Bitcoin is slipping into long-term support as whales ramp up accumulation while smaller holders continue to sell. At the same time, analyst Myles G Investments outlines a path toward $150,000 if the trendline rebound plays out.
Whales Increase Accumulation as Smaller Holders Sell
Whale demand is rising again while smaller investors continue to reduce exposure. Glassnode data shows that entities holding at least 1,000 Bitcoin increased their count by 2.2 percent, reaching 1,384 wallets. This marks the highest level in four months and comes as the price trades near a local low.
Bitcoin 1K BTC Whales Accumulate. Source: Glassnode
At the same time, the chart shows a clear divergence between whale accumulation and retail behavior. As the Bitcoin price trends lower, large holders are steadily adding to their balances. This pattern often signals a shift in supply concentration toward stronger hands during market weakness.
Moreover, the increase in 1K-plus wallets suggests renewed confidence among long-term players. Their accumulation historically appears near periods of volatility, and the current trend aligns with that pattern. While retail wallets continued to offload coins during the downturn, whales stepped in and absorbed the supply.
The rise in large balances also highlights a broader shift in market structure. As whale holdings expand, circulating supply becomes tighter, which can influence future liquidity dynamics. Although price remains under pressure, the buildup from deep-pocketed addresses shows that institutional-style buyers are positioning ahead of potential recovery phases.
Analyst Targets $150K Bitcoin After Trendline Retest
Meanwhile, analyst Myles G Investments forecasts a possible move toward $150,000 after Bitcoin’s latest drop into long-term trend support. His chart shows price pulling back toward the ascending line that has guided the broader rally since last year, creating a potential area for buyers to re-enter the market.
Bitcoin 150K Trendline Setup. Source: Myles G Investments
He also highlights a wide resistance band around the $115,000 to $120,000 zone. The chart outlines a scenario in which Bitcoin first reclaims that region before attempting a larger breakout. This structure suggests that a recovery would require strength through multiple layers of supply.
In addition, Myles notes that his earlier projections anticipated this corrective phase and the sharp retracement into the trendline. His post frames the retest as part of a broader continuation setup rather than a breakdown, keeping the focus on whether Bitcoin can stabilize and build enough momentum for an upside extension.
