- Bitcoin sustains its long-term bullish trend as accumulation grows among whales and institutional holders.
- Renewed whale wallet activity signals confidence in Bitcoin’s maturity, not fear-driven market moves.
- Analysts project Bitcoin could reach $200,000 as structural demand and accumulation momentum stay firm.
Bitcoin continues to demonstrate long-term strength despite recent market volatility and short-term uncertainty. Market analysts suggest that structural demand and higher-timeframe trends remain intact, keeping the broader uptrend in place.
Bitcoin Maintains Uptrend Amid Short-Term Fluctuations
Market analyst EtherNasyonaL noted on X that Bitcoin’s higher-timeframe structure remains bullish. He stated that “each new low forms higher than the previous one,” and as long as this pattern holds, “the main trend remains strong.” He added that while short-term noise creates confusion, “the real roadmap is being drawn in the higher timeframes.”
Bitcoin/USD | Source: EtherNasyonaL/X
Bitcoin has been consolidating above key support levels, maintaining its position over the 12-month moving average. This level has repeatedly acted as a demand zone where long-term holders accumulate more coins. Analysts suggest that every consolidation phase above this range helps build the foundation for the next upward move.
At press time, Bitcoin is trading at $110,604, reflecting steady resilience despite the sharp decline seen earlier in October. Analysts continue to view the higher-timeframe trend as intact, citing consistent accumulation by institutional and large-scale investors.
Dormant Whale Activity Signals Market Maturity
On-chain data revealed renewed activity from early Bitcoin miners. A wallet containing 4,000 BTC mined between April and June 2009 recently moved 150 BTC, worth over $16 million, after 14 years of dormancy. Data from Nansen and Mempool Space confirmed the transaction, showing the address still holds 3,850 BTC.
Blockchain analyst Emmett Gallic explained that the holder has been systematically selling from another wallet for years, describing the movement as calculated position management rather than panic selling. The address originally held 7,850 BTC and last showed activity in June 2011.
Another whale from the early Bitcoin era transferred over 80,000 BTC to Galaxy Digital in July after 14 years of inactivity. Analysts said such movements reflect a gradual rotation of holdings from early miners to new market participants, suggesting a broader distribution phase rather than a weakening of fundamentals.
Whale transfers often attract attention, yet on-chain experts interpret these moves as part of a natural market cycle. They believe that long-term holders adjusting their portfolios signal confidence in the asset’s maturity rather than short-term profit-taking.
Analysts Eye $200,000 Target as Accumulation Resumes
A report by CryptoQuant noted that Bitcoin’s structural demand remains strong, even after October’s sharp price drop. The firm referred to the current phase as a “late-stage maturity segment” of the ongoing cycle. It highlighted the growing activity of the ‘dolphin cohort’, which holds between 100 and 1,000 BTC per wallet.
Bitcoin: Total Balance Change by Address Cohort (2025 YTD) | Source: CryptoQuant
This cohort, which includes corporations and exchange-traded funds, now controls about 26% of Bitcoin’s total supply, or 5.16 million BTC. The group increased its holdings by 681,000 BTC this year, while other cohorts reduced their balances. CryptoQuant reported that the annual growth rate of dolphin assets remains positive, supporting the long-term uptrend.
The firm set short-term resistance at $115,000 and support near $100,000. It cautioned that a break below this support could trigger a correction toward $75,000. However, analysts maintained that a renewed phase of accumulation could push prices toward the $126,000 level and possibly higher.
Research firm Tiger Research projected a potential $200,000 target for Bitcoin in the fourth quarter, citing continued buying momentum despite volatility. Analysts believe that as long as the accumulation trend continues, the long-term chart remains bullish even amid short-term fluctuations.
