Bitcoin (BTC) Price: Why Big Money Is Buying the Dip at $105K
TLDR
Large Bitcoin investors holding 10 to 10,000 BTC purchased 79,244 coins worth $8.3 billion during the recent price dip
Bitcoin whales added approximately 30,000 tokens to their holdings in the past few days
Crypto expert Scott Melker predicts Bitcoin could reach $150K-$300K this cycle despite current consolidation
Four key catalysts driving Bitcoin adoption include ETF approvals, Trump’s pro-crypto stance, sovereign wealth fund investments, and corporate treasury adoption
Bitcoin currently trades around $104,696-$105,200, down over 2% in the past week
Bitcoin continues to attract institutional interest despite recent price weakness. On-chain data reveals that major investors have been accumulating during the current market pullback.
Large Bitcoin holders with balances between 10 to 10,000 BTC added 79,244 coins to their wallets over the past week. This accumulation totals approximately $8.3 billion at current exchange rates.
The buying activity occurred while Bitcoin declined from its recent all-time high. This suggests these investors view the price drop as a buying opportunity rather than a trend reversal.
Whale Activity Confirms Accumulation Trend
Bitcoin whales holding 1,000 to 10,000 BTC specifically added around 30,000 tokens during recent days. This group represents some of the largest individual Bitcoin holders outside of institutional entities.
Some of the biggest whales on the network have bought over 30,000 #Bitcoin $BTC in the last 96 hours! pic.twitter.com/Z0Ujszhdnc
— Ali (@ali_charts) June 3, 2025
The whale accumulation pattern aligns with the broader investor group data. Both metrics indicate continued confidence among major Bitcoin stakeholders.
Santiment, the on-chain analytics firm tracking this data, noted the sharp uptick in supply distribution metrics. These investors typically hold substantial influence over Bitcoin price movements due to their large holdings.
🐳 There are now 151,820 wallets holding between 10 to 10,000 Bitcoin. These key stakeholders have aggressively been accumulating over the past week, collectively adding 79,244 $BTC (11,321 coins accumulated per day). 👀 pic.twitter.com/jWUtqOFaPO
— Santiment (@santimentfeed) June 3, 2025
Bitcoin currently trades around $105,200, representing a decline of over 2% in the past seven days. The cryptocurrency reached new all-time highs in late May before entering a consolidation phase.
Market observers point to concerns over U.S. trade tariffs and economic conditions as factors weighing on investor sentiment. Recent profit-taking has also contributed to selling pressure.
Despite the recent weakness, crypto expert Scott Melker maintains Bitcoin remains in a bull market. He cited unprecedented institutional interest as a key supporting factor.
Melker highlighted four primary catalysts driving Bitcoin adoption in 2025. Bitcoin spot ETF approvals top his list, particularly BlackRock CEO Larry Fink’s public support for the cryptocurrency.
Political backing represents another catalyst, with President Trump’s pro-crypto stance providing regulatory momentum. Sovereign wealth fund investments from regions like the Middle East are beginning to materialize.
Corporate treasury adoption continues as companies follow MicroStrategy’s strategy of holding Bitcoin on balance sheets. This trend validates Bitcoin’s role as a hedge and long-term asset.
Price Predictions Range From $150K to $300K
Looking ahead, Melker predicts Bitcoin could reach $130K-$150K conservatively this cycle. His more optimistic scenario sees prices climbing to $230K-$300K.
He noted that Bitcoin already trades above $100K, making further gains more achievable. Current ETF flows and institutional accumulation support continued upward momentum.
Melker questioned whether traditional four-year crypto cycles will continue. He suggested Bitcoin may experience smaller drawdowns as it becomes more institutionalized.
Rather than sharp 80% crashes followed by massive rallies, he expects a “grind up and dip” pattern. This would involve gradual increases over time with reduced volatility.
The analyst advised long-term investors to continue dollar-cost averaging during market dips. He emphasized Bitcoin’s limited downside compared to traditional assets.
ETF investors tend to hold rather than trade on daily price movements, providing additional price stability. This institutional behavior differs from previous market cycles dominated by retail traders.
Bitcoin whales accumulated approximately 30,000 tokens during the past few days while the broader 10 to 10,000 BTC holder group added 79,244 coins worth $8.3 billion.
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Filed under: News - @ June 5, 2025 8:29 am