Bitcoin Holds Firm as Whale Accumulation Peaks

Bitcoin is trading above a crucial support zone of $108,000–$111,000, bolstered by record whale accumulation and robust on-chain data.

This situation may indicate a bullish reversal, potentially countering September’s historical trend of weakness, despite ETF outflows.

Record-Breaking Whale Holdings Underpin Bitcoin Stability

Bitcoin is currently maintaining its price at a critical support zone above $108,000–$111,000. The number of addresses with 100+ BTC reached an all-time high of 19,130. These metrics signal the commitment of major holders to defend this zone. Record whale accumulation reinforces the strength of Bitcoin’s support levels based on current data.

“A September dump is not coming. $BTC already front-ran the sell-off. It played out the same way in 2017. Bears will miss the pump again.” — Rekt Fencer, Independent Analyst

Institutional Pressure vs. Whale Support in August Dynamics

ETF outflows amounting to $751 million reflect continued institutional selling pressure in August. Despite this, the commitment of whale investors and on-chain metrics suggests resilience in the face of typical September market struggles. Technical indicators point to potential price stabilization, with institutional selling contributing to short-term bearish conditions.

Historical September Performance Challenges to Overcome

Quarterly patterns show Bitcoin’s average September return is –3.77% since 2013. Experts like Rekt Fencer note similarities with 2017, when a recovery occurred post-weakness. Historical data suggests a possible rapid recovery if macroeconomic conditions become favorable, supporting the bullish stance if institutional flows stabilize.