CryptoQuant: The Bitcoin bull market cycle has not yet ended, with short-term support at $100,000

ChainCatcher news, according to the CryptoQuant weekly report analysis, as of now, whale addresses (addresses holding 100 to 1000 bitcoins) have a total holding of approximately 5.16 million BTC, accounting for 26% of the circulating supply of bitcoin, making them the most important holding group in the current market. In 2025, whale addresses have cumulatively increased their holdings by about 681,000 BTC, while other address groups have shown a net reduction, indicating a trend of institutional investors absorbing the selling pressure from retail investors.

The annual growth rate of whale holdings is 907,000 BTC, higher than the 365-day average of 730,000 BTC, indicating that long-term demand remains strong. However, short-term momentum is weakening; if the monthly accumulation rate does not accelerate again, it may be difficult for the bitcoin price to break through the new high of $126,000. Currently, the resistance level for bitcoin price is at $115,000, and the support level is at $100,000. If it falls below $100,000, it may trigger further corrections to around $75,000.

Historical data shows that when the annual growth rate of whale holdings is below the 365-day average, it often signals the end of a bull market, while current data suggests that the market may still be in the later stages of a bull market. The future trend depends on whether the accumulation speed of this group can accelerate.