Bitcoin Price Prediction – BTC Eyes $110K as Whales Accumulate

Highlights:

• Bitcoin remains stable intraday as bulls struggle at $104,364 resistance
• Big players continue accumulating Bitcoin even as the price holds steady
• Whale accumulation hints at a potential rally to new highs soon

Bitcoin remains steady at $103,170, a slight increase of 0.16% intraday. Even though there has been little to no price action, analysts suggest that there are strong fundamentals that could signal a breakout. Favorable market conditions from major players’ accumulation continue to shape a long-term bullish sentiment toward the asset.

Tether Buys $458M Bitcoin A Signal to Rising Confidence

Tether has bought $458.7 million worth of Bitcoin, signaling confidence in Bitcoin through Twenty One Capital. As disclosed on the SEC’s website on May 13, Tether purchased 4,812 BTC at an average price of $95k, which were then relocated to an escrow wallet, significantly enhancing Twenty One’s Bitcoin holdings. With this move, Twenty One Capital’s total Bitcoin now stands at 36,312 BTC. Cantor Equity Partners currently holds 31,500 of those BTC on behalf of the firm. The company is now awaiting the completion of a SPAC merger with Cantor Equity Partners.

Tether has acquired 4,812 BTC at an avg price of $95,319 totaling $458.7mm, following through on the business combination agreement for $CEP / XXI as announced late last month.

Per 8-K filed today https://t.co/ZCz2CxXKPU pic.twitter.com/po3EK5x1eC

— Teddy Fusaro (@teddyfuse) May 13, 2025

The upcoming merger has drawn attention from high-profile financial institutions. Alongside Tether, other stakeholders include crypto exchange Bitfinex, SoftBank, the Japanese investment behemoth, and US titan Cantor Fitzgerald. Cantor is sponsoring the merger and is providing $585 million in related funding. SoftBank alone has committed $900 million to the project.  Jack Mallers, the CEO, has confirmed the process is underway but provided no estimate for the SPAC completion date. Such news is likely to drive retail FOMO into Bitcoin in the future. 

Whales Accumulate Further Boost Bitcoin Price Bullish Sentiment

Besides the actions taken by institutions, blockchain analytics reveal a split in behavior between large and small-scale Bitcoin holders. According to Santiment, a data analytics company, wallets holding 10 to 10,000 Bitcoin rose by 83,000 BTC in the past month. This indicates that the more experienced investors feel confident and willing to build their position, which usually occurs during uncertainty or consolidation.

According to a May 13 post by @santimentfeed on X, wallets holding between 10 and 10,000 $BTC, often called whales and sharks, have accumulated over 83,000 #Bitcoin in the past 30 days.

Read more: https://t.co/tS8R41SM2q pic.twitter.com/JbLRjdvjiH

— DeFi Planet (@PlanetDefi) May 13, 2025

On the other hand, smaller wallets, which are classified as wallets with less than 0.1 BTC, have been selling. These wallets sold roughly 387 BTC in the same timeframe. This could indicate that small Bitcoin holders are pivoting to altcoins. This is still a bullish signal for Bitcoin since altcoins usually move when Bitcoin moves. 

Analysts Optimistic That Bitcoin Is Headed Higher

Besides the growing whale accumulation, analysts also have a bullish forecast for Bitcoin. According to João Wedson, the founder of Alphractal, the Bitcoin structure remains overall bullish. She expects the larger price cycle to reach its zenith between October 12 and 16. Wedson does not believe that ETF engagement or some heightened institutional presence has thrown Bitcoin’s cadence off. She recalls the April 2021 and 2023 cycles and expects Bitcoin to hit new highs soon.

🔥The Bitcoin cycle remains intact and is likely to peak in October — but expect major volatility before that!

I'm one of the few who speaks openly about this, but I've seen many posts claiming that Bitcoin's predictable cycle has ended due to the rise of institutions, ETFs, and… pic.twitter.com/HvnGEUvKGr

— Joao Wedson (@joao_wedson) May 10, 2025

Technical Analysis – Bitcoin Price Still Trading Below Critical Resistance

With the bullish indicators building up, Bitcoin still faces a critical technical hurdle at the $104,364 resistance mark. Should that level be breached, there is potential for a run towards $110,000. 

On the flip side, should bulls remain weak, the $100,000 level will soon become a key psychological support level.

Recap

The daily Bitcoin chart paints a relatively uncharacteristic price action. However, the fundamentals tell a different story. As whale accumulation rise to multi-month highs, a foundation is paving the way for a breakout. A rally to prices above $110k could be possible in the short term.