Bitcoin (BTC) rallied 8.7% to $107,500 on Tuesday after hitting a four-month low of $98,900 as whales took advantage of discounted prices so as to add to their holdings. The price corrected below $103,000 on Thursday as $106,000 posed a difficult hurdle to interrupt.
Key Takeaways:
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Bitcoin whales posted their second largest weekly increase of 2025.
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Long-term holders proceed to sell, thwarting recovery attempts.
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BTC selling pressure is at $106,000, a resistance level that would stop the bulls of their tracks.
Bitcoin whales capture 45,000 BTC
Data from Cointelegraph Markets Pro and TradingView showed that a recovery in BTC price was taking shape after last week's correction as the worth was around $103,000.
Market participants have observed deliberate behavior from whales as these major holders recorded their second-largest surge in 2025, in response to data from market on-chain data provider CryptoQuant.
In March, whales – firms holding 1,000 BTC or more – triggered probably the most significant accumulation wave of the 12 months as the worth of Bitcoin fell sharply.
“Over the last week, whales have gathered greater than 45,000 BTC, representing the second largest weekly accumulation in these wallets,” CryptoQuant analyst Caueconomy said in a quicktake evaluation on Wednesday, adding:
“Big players are once more benefiting from small investors’ capitulation to soak up coins.” Weekly Bitcoin whale change. Source: CryptoQuant
Still, this spot buying volume was not enough to reveal a broader buy-the-dip recovery pattern.
Pushing the worth above $106,000 would require “renewed belief and stronger demand from latest entrants” and other investors corresponding to day traders and retail investors, Glassnode said in its latest Week Onchain report.
However, not all Bitcoin whales accumulate. According to Onchain Lens, long-term whale Owen Gunden continued selling and transferred 2,401 BTC value $245 million to Kraken on Thursday.
Owen Gunden deposited 2,401 $BTC value $244.96 million on #Kraken 3 hours ago.
Owen still holds $2,499 BTC value $258.58 million.https://t.co/fjqIGflm7B https://t.co/xYkVYFjpy1 pic.twitter.com/eHMm54t6Am
— Onchain Lens (@OnchainLens) November 13, 2025
As Cointelegraph reported, OG holders have been transferring large amounts of BTC to exchanges, raising concerns about long-term confidence as Bitcoin loses momentum.
Bitcoin faces strong resistance above $106,000
The BTC/USD pair did not break above $106,000 as its recovery stopped in need of a bull market comeback.
This is as a result of “a dense supply cluster between $106,000 and $118,000 that continues to limit upside momentum as many investors use this area to exit near breakeven,” Glassnode said.
According to Bitcoin's cost basis distribution heatmap, investors hold roughly 417,750 BTC at a median price between $106,000 and $107,200, which represents a resistance zone.
Added Glassnode:
“This excess of latent supply creates a natural resistance zone where rallies could stall, suggesting that a sustained recovery would require renewed inflows strong enough to soak up this wave of distribution.” 
Traders say the BTC/USD pair must convert resistance between $106,000 and $107,000 into support to aim for higher highs above $110,000.
“BTC is trending higher on the lower timeframe,” analyst Daan Crypro Trades said in a recent X post, adding:
“But it needs to interrupt the $107,000 area. If it does, it could turn it into an honest divergence and get back into the world.” 
Technical analyst CRYPTO Damus said BTC price will “make a better high above 106,000 and break above the downtrend line at $107,350 to make the scenario bullish.”
“If we would like to interrupt out higher, I might moderately see a break above $108,000-$110,000 after which we are going to see a brand new ATH,” MN Capital founder Michael van de Poppe said in a Friday post on X.
As Cointelegraph reported, a break and shut above the $107,000 breakout level would signal that bulls are back in charge.
This article doesn’t contain any investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their very own research when making their decision.
