base-pidgin

Bitcoin has reached a 7-year milestone in whale wallet holdings, coinciding with its price testing $105,000:

- Whale accumulation: Addresses holding 100+ BTC surged to 17,799, the second-highest level since December 2017.
- Cost basis distribution: Long-term holders maintain significant unrealized profits, while short-term holders face unrealized losses.
- Technical foundation: Bitcoin's price action maintains bullish momentum, with the 50-day MA providing dynamic support above the 200-day MA.
- On-chain metric: SOPR levels indicate modest profits, and exchange netflow patterns suggest controlled accumulation.
- Market structure: Bitcoin's market structure remains robust, with strengthening market fundamentals and strategic positioning by large players.

Bitcoin shows strong fundamentals with whale accumulation and bullish price action, supported by key metrics and market structure.