Bitcoin Holds Above $104K as Whales Accumulate and Market Resets — Critical Levels Ahead

Bitcoin has managed to maintain its footing just over $104,000 despite a recent pullback, as whale activity on Binance intensifies and traders adjust positions in a shifting macro environment. Market participants are closely monitoring key resistance and liquidity levels for signs of the next major move.

Bitcoin Price Steadies as Fed Policy Spurs Market Balance

At press time, Bitcoin (BTC) trades at $104,852, reflecting a slight 0.08% dip over 24 hours and a 2.89% slide over the past week. Today’s price range has been tight, oscillating between $103,832 and $105,273. The week-long range, however, was broader, with lows of $103,639 and highs near $108,771. After the Federal Reserve opted to keep interest rates unchanged, Bitcoin has found consistent support just above $104,000. According to Binance data, this price has emerged as a robust demand zone, absorbing sustained selling pressure and supporting market stability. Analyst Amr Taha from CryptoQuant highlights that Bitcoin continues to form equal lows at this level, reflecting persistent buying interest from market participants—even as broader volatility persists.

Open Interest Drops as Leverage Unwinds

While Bitcoin’s spot price has held steady, Binance open interest has dropped noticeably. This indicates that traders are unwinding leveraged positions, possibly anticipating more turbulent market conditions ahead. CryptoQuant’s Amr Taha points to the formation of a “liquidation cluster” around the $104,000 level, with a surge in forced liquidations of long positions. Short positions, in contrast, have remained relatively low in activity. This dynamic suggests a forceful long squeeze, removing weaker hands and setting the stage for potentially healthier price action.

Whale Engagement on Binance Reaches New Highs

Binance’s whale ratio—a metric used by CryptoQuant to monitor large-holder activity—has soared, climbing from 0.08 in mid-2023 to 0.76 and above throughout 2024 and into 2025. This remarkable 400% rise underscores growing involvement by major players on the exchange. During recent stretches of volatility in 2025, both whales and retail traders have shown a clear preference for holding rather than selling Bitcoin. Inflows from both cohorts remain subdued, indicating a cautious but optimistic outlook. Meanwhile, trading activity remains brisk in higher-risk cryptocurrencies, signaling that risk appetite in the broader crypto landscape persists, even as BTC’s supply on exchanges thins.

Key Resistance and Liquidity Zones to Monitor

Market analysts are keeping a close eye on major technical levels. Crypto Patel highlights $106,000 as a pivotal resistance; a decisive breakout could drive Bitcoin toward the $108,000 to $108,950 area—identified as a “bearish order block” where the last major sell-off kicked off. On the downside, $102,000 has become an important liquidity pool. Should Bitcoin lose this support, there may be increased risk of a sharp decline, potentially taking prices below $100,000. Patel recommends tracking these thresholds closely, as shifts here could signal the next trend reversal or continuation.

Key Stats & Figures

• Current Price: $104,852 at time of writing, with a 0.08% 24-hour decrease
• Weekly Performance: Down 2.89% over the last seven days
• Intraday Range: $103,832 to $105,273 on the latest trading day
• Whale Ratio Growth: 400% increase on Binance from 0.08 (2023) to 0.77 (2025)

Implications for Investors: A Market in Reset

The recent reduction in open interest points to an ongoing market reset, as leveraged traders exit and core positions solidify. Whale accumulation and a reluctance to sell among both large and retail holders could bolster Bitcoin’s medium-term stability. However, with riskier cryptocurrencies still drawing activity, appetite for speculation has not completely faded, hinting at potential pockets of volatility ahead.

Conclusion: What This Means for the Market

Bitcoin’s steady position above $104,000 is underpinned by strong demand and calculated positioning by larger market players. With clearly defined technical levels guiding sentiment, traders are bracing for the next pivotal move. As the market digests policy updates and liquidity shifts, all eyes remain on how Bitcoin navigates its critical resistance and support zones in the days to come.