![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/Bitcoin-1-1-1200x675.webp\")
\n\t\t\t\t\t\t<\/p>\n
![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/IMG_20221216_232515-scaled-e1687171787353-80x80.jpg.webp\")
<\/p>\n
Journalist<\/p>\n<\/p><\/div>\n
Share this article<\/h4>\n<\/p><\/div>\n<\/p><\/div>\n\n\n- Bitcoin\u2019s cost basis revealed stark contrast between long-term holders and recent buyers<\/span><\/em><\/li>\n
- SOPR maintained 1.04 level as whale addresses accumulated through the $105K test<\/span><\/em><\/li>\n<\/ul>\n
Bitcoin\u2019s<\/a> market structure has been noting a significant shift after whale addresses reached levels not seen since December 2017. The shift seems to be corresponding with the crypto\u2019s price action testing the crucial resistance above $105,000. <\/span><\/p>\nThis institutional positioning comes amid a clear divergence between long-term and short-term holder behavior. The trend also paints a compelling picture of market maturity.<\/span><\/p>\nBitcoins Strategic Bitcoin whale positioning intensifies<\/h2>\n
At the time of writing, the number of addresses<\/a> holding at least 100 Bitcoin<\/a> had surged to 17,799 \u2013 Marking its second-highest level since December 2017. This milestone coincided with BTC\u2019s latest push to $105,841.64 \u2013 A sign of strategic accumulation by institutional players.\u00a0<\/span><\/p>\n\n![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/GhheSQ_XEAAJz-H-scaled.jpg\")
<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
Particularly noteworthy is the steep accumulation pattern that began in October 2024, when whale addresses numbered around 16,200 \u2013 Representing a nearly 10% hike in large-holder concentration over just three months. <\/span><\/p>\nThe acceleration in whale accumulation during the November-December period notably corresponded with Bitcoin\u2019s sustained break above the $90,000-level.<\/span><\/p>\nBitcoins Bitcoin\u2019s market structure signals maturity<\/h2>\n
Further strengthening this bullish narrative, Bitcoin\u2019s cost basis distribution highlighted a telling market dynamic. <\/span><\/p>\nThe data<\/a> showed unrealized losses exclusively concentrated among short-term holders who entered positions within the last 155 days. Long-term holders maintain significant unrealized profits, with substantial accumulation zones visible in the 20,000-40,000 BTC range.\u00a0<\/span><\/p>\n\n![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/GhgPVJgXMAAzS31.png\")
<\/a><\/p>\nSource: Glassnode<\/p>\n<\/div>\n
Most striking seemed to be the contrast between long-term holder behavior, as highlighted by the blue bars clustering around lower price levels, and short-term positions marked in red at higher prices. <\/span><\/p>\nExchange holdings, represented by gray bars, underlined periodic spikes above 600,000 BTC. This, again, hinted at strategic institutional positioning rather than panic selling.<\/span><\/p>\nBitcoins Strong technical foundation supports BTC\u2019s uptrend<\/h2>\n
Supporting these on-chain metrics, Bitcoin\u2019s<\/a> price action maintained its bullish momentum on the charts, with the 50-day moving average at $97,942.19 providing dynamic support well above the 200-day MA at $74,604.73. <\/span><\/p>\nThis significant gap between moving averages, over $23,000, highlighted strong upward momentum.\u00a0<\/span><\/p>\n\n![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/BTCUSD_2025-01-18_08-34-05.png\")
<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
The recent trading volume of 3.05K BTC at $103,054.14 demonstrated sustained institutional interest, while the series of higher lows since November formed a robust technical foundation. <\/span><\/p>\nThe recent pullback from $105,841.64 to its press time levels represented a healthy consolidation, rather than a trend reversal.<\/span><\/p>\nBitcoins On-chain metrics confirm Bitcoin\u2019s strength<\/h2>\n
The Spent Output Profit Ratio (SOPR) added another layer of confidence, maintaining levels consistently above 1.0 since November\u2019s surge. This metric, hovering around 1.04, indicated that most Bitcoin transactions have been realizing modest profits, without triggering mass selling.\u00a0<\/span><\/p>\n\n![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2025\/01\/glassnode-studio_spent-output-profit-ratio-sopr-1.png\")
<\/a><\/p>\nSource: Glassnode<\/p>\n<\/div>\n
Finally, exchange netflow<\/a> patterns showed a calculated distribution approach, with positive inflows of 308.7 BTC suggesting controlled accumulation rather than distribution.<\/span><\/p>\nHistorical netflow spikes, particularly those seen in December, have preceded significant price movements, indicating strategic positioning by large players.<\/span><\/p>\n
\n\u2013 Read Bitcoin (BTC) Price Prediction<\/a> 2024-25<\/p>\n
\n
- \n
- Bitcoin\u2019s cost basis revealed stark contrast between long-term holders and recent buyers<\/span><\/em><\/li>\n
- SOPR maintained 1.04 level as whale addresses accumulated through the $105K test<\/span><\/em><\/li>\n<\/ul>\n
Bitcoin\u2019s<\/a> market structure has been noting a significant shift after whale addresses reached levels not seen since December 2017. The shift seems to be corresponding with the crypto\u2019s price action testing the crucial resistance above $105,000. <\/span><\/p>\n
This institutional positioning comes amid a clear divergence between long-term and short-term holder behavior. The trend also paints a compelling picture of market maturity.<\/span><\/p>\n
Bitcoins Strategic Bitcoin whale positioning intensifies<\/h2>\n
At the time of writing, the number of addresses<\/a> holding at least 100 Bitcoin<\/a> had surged to 17,799 \u2013 Marking its second-highest level since December 2017. This milestone coincided with BTC\u2019s latest push to $105,841.64 \u2013 A sign of strategic accumulation by institutional players.\u00a0<\/span><\/p>\n
\n<\/a><\/p>\nSource: Santiment<\/p>\n<\/div>\n
Particularly noteworthy is the steep accumulation pattern that began in October 2024, when whale addresses numbered around 16,200 \u2013 Representing a nearly 10% hike in large-holder concentration over just three months. <\/span><\/p>\n
The acceleration in whale accumulation during the November-December period notably corresponded with Bitcoin\u2019s sustained break above the $90,000-level.<\/span><\/p>\n
Bitcoins Bitcoin\u2019s market structure signals maturity<\/h2>\n
Further strengthening this bullish narrative, Bitcoin\u2019s cost basis distribution highlighted a telling market dynamic. <\/span><\/p>\n
The data<\/a> showed unrealized losses exclusively concentrated among short-term holders who entered positions within the last 155 days. Long-term holders maintain significant unrealized profits, with substantial accumulation zones visible in the 20,000-40,000 BTC range.\u00a0<\/span><\/p>\n
\n<\/a><\/p>\nSource: Glassnode<\/p>\n<\/div>\n
Most striking seemed to be the contrast between long-term holder behavior, as highlighted by the blue bars clustering around lower price levels, and short-term positions marked in red at higher prices. <\/span><\/p>\n
Exchange holdings, represented by gray bars, underlined periodic spikes above 600,000 BTC. This, again, hinted at strategic institutional positioning rather than panic selling.<\/span><\/p>\n
Bitcoins Strong technical foundation supports BTC\u2019s uptrend<\/h2>\n
Supporting these on-chain metrics, Bitcoin\u2019s<\/a> price action maintained its bullish momentum on the charts, with the 50-day moving average at $97,942.19 providing dynamic support well above the 200-day MA at $74,604.73. <\/span><\/p>\n
This significant gap between moving averages, over $23,000, highlighted strong upward momentum.\u00a0<\/span><\/p>\n
\n<\/a><\/p>\nSource: TradingView<\/p>\n<\/div>\n
The recent trading volume of 3.05K BTC at $103,054.14 demonstrated sustained institutional interest, while the series of higher lows since November formed a robust technical foundation. <\/span><\/p>\n
The recent pullback from $105,841.64 to its press time levels represented a healthy consolidation, rather than a trend reversal.<\/span><\/p>\n
Bitcoins On-chain metrics confirm Bitcoin\u2019s strength<\/h2>\n
The Spent Output Profit Ratio (SOPR) added another layer of confidence, maintaining levels consistently above 1.0 since November\u2019s surge. This metric, hovering around 1.04, indicated that most Bitcoin transactions have been realizing modest profits, without triggering mass selling.\u00a0<\/span><\/p>\n
\n<\/a><\/p>\nSource: Glassnode<\/p>\n<\/div>\n
Finally, exchange netflow<\/a> patterns showed a calculated distribution approach, with positive inflows of 308.7 BTC suggesting controlled accumulation rather than distribution.<\/span><\/p>\n
Historical netflow spikes, particularly those seen in December, have preceded significant price movements, indicating strategic positioning by large players.<\/span><\/p>\n
\n\u2013 Read Bitcoin (BTC) Price Prediction<\/a> 2024-25<\/p>\n
\n - SOPR maintained 1.04 level as whale addresses accumulated through the $105K test<\/span><\/em><\/li>\n<\/ul>\n