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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

$63 Billion in Bitcoin Scooped Up by New Whales, Is $135K Still in Play?

Samuel Edyme
Samuel Edyme
1 day ago
3 mins read
$63 Billion in Bitcoin Scooped Up by New Whales, Is $135K Still in Play?

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Bitcoin is so far facing a notable pullback in price, with its price now down roughly 5.8% from its all-time high recorded last month. At the time of writing, the asset currently trades at $105,062, marking a 1.1% decrease in the past day.

Despite the pullback, on-chain data indicates a significant change in market behavior among large investors. A new set of Bitcoin whales—wallets holding 1,000 BTC or more with coins aged less than six months—has been accumulating the asset at an accelerated pace.

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2 days ago

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.

Bitcoin supply held by address cohorts.
Bitcoin supply held by address cohorts. | Source: CryptoQuant

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.

Bitcoin (BTC) price chart on TradingView
BTC price is moving upwards on the 2-hour chart. Source: BTC/USDT on TradingView.com

Featured image created with DALL-E, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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