Bitcoin Hits Resistance at $108K Amid Whale Slowdown
Key Takeaways
- Bitcoin inflows from large investors (“whales”) have dropped by 40%.
- Retail and institutional investors remain active.
- BTC is trading around $103,764 but faces resistance at $108,000.
- Technical indicators suggest short-term overheating.
- Long-term fundamentals like increasing scarcity support further growth.
Decline in Whale Inflows – A Sign of Caution?
Since mid-April, there has been a significant decline in Bitcoin inflows to large wallets. So-called whale investors have reduced their capital inflows from USD 5 billion to USD 3 billion. This points to a more cautious stance among major investors.
At the same time, retail investor participation has increased from USD 12 billion to USD 15 billion. Despite the rise, this figure still falls short of previous highs. The market sentiment appears to be shifting: large investors are hitting the brakes, while smaller investors continue to buy in.
Market Sentiment: More Shorts Than Longs
A look at Binance data shows that 56.99% of traders are currently betting on falling prices (short positions), while only 43.01% expect prices to rise (long positions). This reflects a rather pessimistic market outlook.
This distribution may lead to increased volatility. If a so-called “short squeeze” occurs—where many short positions are forced to close simultaneously—the price could spike in the short term.
Declining Interest on Social Media
Interest on social media is also waning. Bitcoin’s social dominance currently sits at 20.6%, with a social volume of 853. Both metrics are trending downward. As social media is a key driver of retail investor behaviour, declining attention could limit BTC’s short-term growth potential.
Institutional Investors Remain Active
Despite whales showing short-term restraint, data from IntoTheBlock indicates that institutional investors continue to accumulate BTC. Over a 30-day period, net inflows into large wallets have increased by 101.14%. Although there was a 1,586.71% decrease over the past seven days, the broader trend remains positive.
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This trend reflects continued confidence among institutional investors in Bitcoin’s long-term outlook.
Technical Barriers: Resistance at $108,000
At the time of writing, Bitcoin was trading at USD 103,764—a daily gain of 1.01%. The next key resistance level is around USD 108,000. The Relative Strength Index (RSI) is at 69.81, approaching the overbought zone.
Additionally, the Bollinger Bands indicator shows BTC trading near the upper band. This suggests a potential short-term price plateau. If the resistance is not broken, a consolidation phase is likely.
Increasing Scarcity: Stock-to-Flow Ratio Rises
Another factor favouring Bitcoin is its increasing scarcity. The so-called stock-to-flow ratio—a measure of the relationship between existing supply and annual production—has risen by 166.67% and now stands at 2.118 million. This reinforces Bitcoin’s role as a store of value.
Our Assessment
The current market situation presents a mixed picture. While large investors are acting more cautiously, interest from retail and institutional players remains. From a technical perspective, Bitcoin is facing a critical resistance level. If this is surpassed, a rise above USD 110,000 is possible.
In the long term, BTC remains well-positioned due to increasing scarcity and institutional demand. In the short term, however, declining social media activity and an overbought market may lead to a pause. Whether the next push comes from retail investors remains to be seen. Those already invested should closely monitor the resistance zone at USD 108,000.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | 101832 |
| 24h % | -1.79 % |
| 7d % | 2.07 % |
| 30d % | 18.52 % |
| 60d % | 21.41 % |
| 1y % | 62.35 % |
| Market Cap | $2,022,883,020,682.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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