Bitcoin holds above $74K as whale activity shows mixed accumulation and distribution

Bitcoin cooled from its recent push toward $76K but held above $74K for three straight days. At press time, BTC traded at $74,577, up 1.02% on the daily chart. That stability kept the short-term uptrend intact.

Whale activity picks up as price stabilizes

As the price held firm, whale activity increased. CryptoQuant’s Spot Average Order Size data showed a rise in large orders over the past week, reflecting stronger whale participation.

Large orders on Spot do not confirm direction alone. They can signal both accumulation and distribution.

CoinGlass data suggested a transition phase. Some whales sold into strength, while others accumulated aggressively. Buy-side interest clustered between $65K and $74K, forming a broad demand zone.

On-chain data supported the accumulation narrative. Lookonchain reported three new wallets withdrew 1,600 BTC, worth $120M, from exchanges. That move suggested fresh accumulation despite recent price gains.

However, selling pressure remained active above $75K. Whales consistently sold into rallies near this level across Spot and Futures markets, turning $75K into strong resistance.

Futures positioning shows profit-taking alongside accumulation

Futures activity reinforced the mixed picture. Matrixport closed a $112M BTC long position, locking in over $8.7M profit. The move highlighted a split market: some whales accumulated while others realized profits at higher levels.

Price action: buyers and sellers balance near key levels

As of the press time, Bitcoin traded between a clear buy wall and sell wall. Repeated attempts to break $75K failed, triggering pullbacks. At the same time, whales defended the $70K–$72K range, keeping BTC in a narrow band without either side fully in control.

Short-term momentum remains positive

Even with the tight range, short-term momentum stayed constructive. BTC held above the 9-day and 21-day Moving Averages for four straight sessions. The Stochastic Momentum Index (SMI) also formed a bullish crossover and rose to 67, with the signal line near 66. This indicated buyers held a slight edge, though not enough to dominate.

What to watch next

If whales continue accumulating near $70K–$74K, BTC may break $75K and target $78K–$80K. If resistance holds, another pullback toward $70,500 remains possible.

Final summary

• Bitcoin held above $74K for three days, showing short-term stability after cooling from $76K.
• Fresh withdrawals of 1,600 BTC from exchanges signal continued long-term accumulation by new wallets.