Bitcoin’s Second-Biggest Whale Accumulation Fails to Crack $106K Barrier

Bitcoin (BTC) rebounded 8.7% to $107,500 on Tuesday after hitting a four-month low of $98,900 as whales took advantage of discounted prices to add to their holdings. The price has since corrected below $103,000 on Thursday as $106,000 proved a tough barrier to overcome.

Key things:

• Bitcoin whales have seen their second largest weekly accumulation in 2025.

• Long-term holders continue to sell, thwarting enforcement efforts.

• BTC selling pressure is at $106,000, a resistance level that can stop the bulls.

Bitcoin whales collect 45,000 BTC

Data from Cointelegraph Markets Pro and TradingView showed that the BTC price recovery is taking shape after that fix from last weekas it holds around $103,000.

Market participants observed deliberate whale posing as these large holders saw their second-largest accumulation in 2025, according to data from market onchain data provider CryptoQuant.

Related: Bitcoin falls to $101,000 as stocks, gold rally ahead of vote to end government shutdown

In March, whales – entities holding 1,000 BTC or more – launched the most significant accumulation wave of the year amid a sharp decline in the price of bitcoin.

“In the last week, whales have accumulated more than 45,000 BTC, the second largest weekly accumulation process in these wallets,” he said Analyst CryptoQuant Caueconomy in Wednesday’s Quicktake analysis and adds:

“Once again, the big players are taking advantage of the capitulation of small investors to absorb coins.”

However, this volume of spot purchases was not sufficient to demonstrate a more widespread buy-the-dip recovery pattern.

“Renewed conviction and stronger demand from new market entrants” and other investors such as day traders and retail investors are needed to push the price above $106,000, Glassnode he said in its latest Week Onchain report.

However, not all bitcoin whales is piling up. Long-term whale Owen Gunden continued selling, transferring 2,401 BTC worth $245 million to Kraken on Thursday, according to Onchain Lens.

Owen Gunden made 2,401 saves $BTCworth $244.96 million, to #Kraken3 hours ago.

Owen still holds 2,499 $BTCworth $258.58 million.https://t.co/fjqIGflm7B https://t.co/xYkVYFjpy1 pic.twitter.com/eHMm54t6Am

— Onchain Lens (@OnchainLens) November 13, 2025

As This was reported by CointelegraphOG holders have moved large amounts of BTC to exchanges, raising concerns about long-term trust as Bitcoin loses steam.

Bitcoin faces stiff resistance above $106,000

BTC/USD pair failed to break $106,000 its bounce stopped just short of the bull market’s return.

This is due to a “dense supply cluster between $106,000 and $118,000 that continues to limit upside momentum as many investors use this range to get close to break-even,” Glassnode said.

According to bitcoins cost distribution heatmapinvestors hold about 417,750 BTC with an average price between $106,000 and $107,200, creating a resistance zone.

Glassnode added:

“This latent supply overhang creates a natural resistance zone where rallies can stall, suggesting that a sustained recovery will require renewed inflows strong enough to absorb this wave of distribution.”

Traders say that the BTC/USD pair needs to break through the resistance between $106,000 and $107,000 for support to target higher highs above $110,000.

“BTC is uptrending in the lower time frame,” he said analyst Daan Crypro Trades in a recent X post, adding:

“But it needs to break the $107k area. If it can do that, it would turn it into a decent deviation and get back into the range.”

CRYPTO Technical Analyst We will he said BTC price “to make a higher high above 106,000 and break above the descending trend line at $107,350 to reverse the bullish scenario”.

“If we want to break to the upside, I’d rather see a break north of $108,000-$110,000 and then we’ll see a new ATH,” MN Capital founder Michael van de Poppe he said in Friday’s post on X.

As This was reported by Cointelegrapha break and close above the $107,000 breakdown level would signal that the bulls are back in the driver’s seat.

This article does not contain investment advice or recommendations. Every investment and trading step involves risk and readers should do their own research when making decisions.