Coinbase Premium Turns Positive as Bitcoin Whale Activity Signals $100K Target

Bitcoin’s recent surge to $94,000, fueled by significant whale accumulation and renewed institutional demand, has market analysts eyeing a $100K liquidity target. Coinbase’s premium turning positive underscores growing U.S. institutional interest, marking one of Bitcoin’s strongest accumulation phases.

Whale Activity Pushes Bitcoin Higher, Liquidity Targets Point to $100K

Bitcoin stabilized at $94,000 after an 11% rally, briefly touching $94,690 on April 23. The surge reflects accumulating bullish signals, with whales and sharks adding 19,255 BTC last week—bringing their total holdings to 13.47 million BTC.

U.S. institutional demand resurged, evidenced by Coinbase’s premium turning positive since April 21. Market analysts highlight this as one of Bitcoin’s strongest accumulation phases, with liquidity trends now eyeing the $100,000 threshold.

Coinbase Faces Legal Hurdles in Five States Over $90M Staking Program

Coinbase executives are pushing back against lawsuits from five U.S. states that allege the exchange’s staking services constitute unregistered securities offerings. The legal actions have reportedly blocked users from accessing over $90 million in staking rewards since 2023.

California, New Jersey, Maryland, and Wisconsin have issued cease-and-desist orders preventing Coinbase from onboarding new staking participants, while Washington maintains an active lawsuit without an operational ban. Paul Grewal, Coinbase’s chief legal officer, confirmed the ongoing disputes as of April 25.

The enforcement actions create significant friction for retail investors seeking yield opportunities in crypto markets. Staking services have become increasingly contentious as regulators scrutinize whether they qualify as investment contracts under securities law.