Bitcoin Whale Withdraws $226M, Sparking Bullish Sentiment Amid Resistance at $105K

A large Bitcoin (BTC) holder has made a significant move, hinting at a potential bullish trend amid market concerns over BTC’s struggle to break past the $105,000 resistance level. According to on-chain analytics platform Lookonchain, a whale recently withdrew 2,218 BTC—worth approximately $226.75 million—from Binance and Kraken within a three-hour span. This includes 1,038 BTC from Binance and 1,180 BTC from Kraken, both transferred to the same wallet, suggesting a strategic accumulation.

The receiving wallet, identified as “bc1q…gvh,” now holds 18,330 BTC valued at roughly $1.88 billion. On-chain records show a consistent pattern of inflows from multiple exchanges into this address over recent months, pointing to a likely institutional investor. Whale withdrawals of this nature are generally viewed as bullish indicators, as they suggest long-term holding intentions rather than imminent selling.

As of the latest data from CoinMarketCap, Bitcoin trades at $101,955.86, down 1.28% over the past 24 hours. Trading volume has dropped by 15.54% to $43.35 billion, fueling concerns that BTC may lose support above the key $100,000 mark. However, the recent whale activity may help ease selling pressure and renew investor confidence.

Adding to the positive sentiment, reports indicate the U.S. government has no current plans to sell its Bitcoin holdings—a move that could further stabilize the market. With whale accumulation rising and institutional interest remaining strong, market observers are watching closely to see if BTC can mount another push past its resistance zone.