Bitcoin whales are doubling down on their accumulation strategy, even as BTC trades below its all-time highs. According to the latest analysis, Bitcoin’s price correction, if triggered, could find strong support around $94,000, aligning with key technical indicators.
Bitcoin Consolidates Above $100K With Whale Support
BTC is currently consolidating in a tight $5,000 range, trading just under recent highs of $112,000. As of May 27, the price hovers around $108,551, per Cointelegraph Markets Pro and TradingView.
Despite the sideways action, whales — large BTC holders — are actively accumulating, signaling strong confidence in the long-term uptrend.
“BTC is consolidating above $100K and whales are accumulating,” said Keith Alan, co-founder of Material Indicators, in a recent post on X.
An accompanying heatmap chart showed rising buy volume from the two largest order classes, typically linked to institutional or whale-sized entities.
$94,000: The Key Dip Target If Correction Hits
Alan noted that Bitcoin’s 21-week moving average currently sits around $94K, making it a likely bounce zone if bears briefly take control.
“We are in a bull market, and the trend is up — but there are no straight lines in trading,” Alan explained. “If a correction comes, I expect support to hold at the trend line which currently aligns with the 21-week MA.”
He also reminded traders that multi-week green candles often precede cooling-off periods, reinforcing the possibility of a short-term dip.
BTC Liquidity Games: Hyperliquid Trader Moves Markets
Meanwhile, trader James Wynn of Hyperliquid has captured attention by taking high-leverage long and short BTC positions — and posting them in real time on X (formerly Twitter).
His transparency has turned him into a signal for short-term sentiment, with some traders reportedly attempting to move the market to liquidate his positions.
Wynn claims he’s the target of price manipulation efforts, stating that large traders try to shake him out — a reminder that liquidity games are alive and well even in six-figure BTC territory.
Market Outlook
- All-time high: $112,000
- Current range: $103,000–$108,500
- Immediate resistance: $112K
- Key support (if correction hits): $94K (21-week MA)
- Market trend: Bullish, but due for a cooldown
What’s Next?
While whale accumulation supports the bull case, traders should be prepared for a brief correction or consolidation. The $94K zone may offer a strategic buy-the-dip opportunity in case of short-term weakness.
As always in crypto: expect volatility, even in a bull market.