Whales Fuel Bitcoin Surge as $94K Support Holds—Is $117K the Next Stop?

Bitcoin (BTC-USD) Struggles to Break $112K as Whale Trades and Regulation Collide

The price of Bitcoin (BTC-USD) is holding just below its all-time high of $111,980, trading around $108,934 after a mild correction. Despite strong support above $106,000, momentum has stalled as a confluence of leveraged bets, political headlines, and on-chain signals create a battle for direction. While bulls maintain the upper hand structurally, data suggests exhaustion may be creeping into the rally.

Consolidation Near Highs: BTC Battles Resistance With Whale Activity on Full Display

BTC’s current structure remains inside a $5,000 range, fluctuating between $106,000 and $111,000. According to Material Indicators, large-volume traders—commonly referred to as whales—are accumulating aggressively near $100,000, driving liquidity into the $108K–$110K band. Whale order flow has shown sharp upticks, especially in the top two transaction classes.

Hyperliquid trader James Wynn has added more drama to the price action, entering a 40X long position with an unrealized $3.4 million loss as of May 28. Market watchers believe his trades have become a signal themselves, attracting counter-positioning that manipulates short-term volatility.

Technical Levels: RSI, MACD, and the Critical Role of the 21-Week Moving Average

Bitcoin’s Relative Strength Index (RSI) sits at 64, down from the recent high above 70, signaling declining buying momentum. The MACD indicator also flashed a bearish crossover, adding weight to the idea that BTC may not break through $112K cleanly.

Should a correction materialize, a major technical safety net sits at the 21-week moving average, currently hovering near $94,000. Analysts warn that the market rarely moves in straight lines and a reversion to this trend line would not violate the long-term bullish structure.

Material Indicators Confirm Support at $94K, Liquidity Map Favors Bullish Structure

Order book analysis shows ask liquidity heaviest at $112,000, acting as a magnet level for profit-taking and whale resistance. Meanwhile, bids cluster tightly at $100K and $94K, confirming bullish defense zones. Should Bitcoin retrace further, analysts expect a bounce from these layers, particularly if the broader risk-on sentiment holds.

Institutional Bets Surge: Strategy Deepens BTC Holdings With $427M Buy

Institutional demand remains red-hot. Strategy recently added 4,020 BTC at an average price of $106,237, bringing total holdings to 580,250 BTC valued at over $40.6 billion. Their long-term average sits at $69,979, showing high conviction at current prices. With this kind of balance-sheet exposure, dips are increasingly met with buy pressure—not panic selling.

BTC 2025 Conference Adds Political Firepower: Strategic Bitcoin Reserve Gains Traction

At the Las Vegas Bitcoin 2025 Conference, government figures made waves. White House Digital Assets Advisor Bo Hines labeled Bitcoin as "digital gold," pledging U.S. support for accumulation rather than divestment. Senator Cynthia Lummis revealed that the BITCOIN Act—which proposes acquiring up to 1 million BTC over five years—will hit the Senate floor next week.

The proposal includes a Strategic Bitcoin Reserve, funded initially through seized assets. These developments, backed by President Trump’s earlier March 6 Executive Order, signal institutional-grade legitimacy and federal strategic alignment with BTC.

Traders Watch Nvidia (NVDA) Earnings for Risk Signal Spillover Into Crypto

While not directly correlated, crypto markets are watching Nvidia (NASDAQ:NVDA) earnings as a risk proxy. A surprise miss or guidance shock could ripple through risk-on assets, particularly as Bitcoin trades near resistance. With BTC sitting above the $109,725 bullish threshold identified by TradeCompass, traders are encouraged to protect gains ahead of NVDA’s report, especially if BTC reaches intermediate targets like $111,195 or $111,395.

BTC Futures: Bullish Above 109,725, Bearish Below 108,825

Futures traders remain tightly bound to key levels:

• Bullish Threshold: 109,725

• Current Price: ~109,000

• Bearish Trigger: 108,825

Upside targets if bulls hold control include:

• 110,155

• 110,415

• 111,195

• 111,395

• 112,960

Swing positions have extended targets at 117,200 to 119,000.

However, if the 108,825 floor breaks, downside targets kick in sequentially at 108,315, 107,300, and as deep as 104,520, according to the tradeCompass model.

Saylor, Kiyosaki, Hayes Forecast Bitcoin at $1 Million—But Timelines Vary

At the same conference, Michael Saylor projected a potential BTC valuation of $1 million per coin, estimating a total market cap of $20 trillion if Wall Street eventually owns 10% of all BTC. His firm continues accumulating, aiming to front-run the institutional wave.

Robert Kiyosaki sees BTC hitting $1 million by 2035, citing the U.S. debt crisis and the failure of fiat systems. Meanwhile, Arthur Hayes is more aggressive, targeting 2028 as the turning point due to capital controls, geopolitical fragmentation, and gold’s limitations compared to Bitcoin as a bearer asset.

Final Verdict: Bitcoin (BTC-USD) Rating

BTC-USD: HOLD / ACCUMULATE ON DIPS

The macro trend remains bullish, supported by accumulation from whales, institutions, and sovereign-aligned policy direction. However, current RSI and MACD signals suggest fading momentum. Traders should be alert for retests of the $106,406 support zone, and a larger drawdown toward $94,000 would not negate the bull case.

Breakouts above $112,000 could unlock $117,000+ levels, but failure here may lead to sideways consolidation. This is not a “buy at all costs” moment—it’s a watch closely and scale into weakness setup.

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