New Whales Gobble Up $63 Billion in Bitcoin—Is $135K Still the Moon Shot?
Bitcoin's latest price surge isn't just retail FOMO—deep-pocketed players are making moves. Fresh whale wallets have swallowed $63 billion worth of BTC, sparking fresh debates about whether the $135K target is still viable.
These aren't your grandma's HODLers. The new entrants are playing with institutional-sized stacks, and their appetite suggests they're betting big on another leg up. Meanwhile, skeptics whisper about leveraged longs and the inevitable 'correction'—because what's crypto without a little chaos?
So, will the whales drag Bitcoin to new highs, or are they just setting up the next rug pull? Only time will tell. But hey, at least it's more exciting than watching the S&P 500 yawn its way to another all-time high.
Young Whale Holdings Surge as Supply Share Tightens
According to a recent analysis published by CryptoQuant contributor “onchained,” this accumulation trend may reflect renewed conviction among high-capital participants preparing for future catalysts.
Between March 1 and June 4, 2025, the amount of bitcoin held by this group of “new whales” more than doubled from approximately 500,000 BTC to over 1.1 million BTC. This represents an increase of around $63 billion in value.
During the same period, their share of Bitcoin’s total circulating supply grew from 2.5% to 5.6%, effectively removing an amount equivalent to nearly ten months of Bitcoin mining output from active circulation. Notably, this measure excludes long-dormant wallets, helping isolate recent capital inflows.
This trend suggests a combination of long-term positioning and active supply absorption, which historically has preceded significant price volatility.
Analysts view the emergence of new whale activity as a signal of shifting market structure, especially when paired with tightening supply conditions. If these entities continue to withdraw BTC from circulation without signs of immediate distribution, it could signal a period of price compression followed by upside volatility.
Technical Patterns Suggest Possible Breakout Levels
From a technical analysis perspective, Bitcoin may be forming a new bullish pattern. According to a recent post by the analyst known as “Titan of Crypto,” the asset has broken out of a right-angled descending broadening wedge, a chart pattern that can imply a trend reversal or continuation depending on confirmation.
#Bitcoin to $135,000 in 2025?
$BTC has broken out of a right-angled descending broadening wedge.
If price holds above the breakout zone, $135,000 becomes a realistic target.
Structure is clean. pic.twitter.com/KqTkquDNhn
— Titan of crypto (@Washigorira) June 3, 2025
If the price maintains levels above the wedge’s breakout zone, historical analysis suggests a potential upside target NEAR $135,000 in 2025. This technical view aligns with the broader narrative of positioning ahead of expected macroeconomic catalysts.
Featured image created with DALL-E, Chart from TradingView
