Bitcoin Accumulation and Price Forecast
As of June 5, 2025, Bitcoin (BTC) is experiencing a resurgence in strength, trading above $105,000. This upward momentum is largely attributed to a significant return to accumulation by Bitcoin whales—entities holding over 10,000 BTC—indicating renewed institutional confidence in the cryptocurrency market.
Whales Resume Accumulation
Recent data from Glassnode reveals that the largest Bitcoin holders have shifted back into accumulation mode after a period of neutrality. This behavioral change is crucial as it signals a renewed confidence among long-term institutional players. Additionally, the accumulation scores for both mid-sized holders (10–100 BTC) and small-scale retail investors (less than 1 BTC) have surged to the highest possible value, indicating maximal accumulation pressure across different market segments.
Retail Participation and Market Dynamics
While whale accumulation is robust, retail participation appears to be lagging. Data from Material Indicators shows that whales, particularly those placing larger orders, have been consistently buying since late May. The Cumulative Volume Delta (CVD) chart indicates that this buying activity remains strong, with no signs of profit-taking or panic selling undermining the bullish momentum. Furthermore, the order book data reveals a lack of significant sell walls until the $110,000 level, suggesting a potential for a smooth upward movement towards this target.
Fractal Analysis: 2025 vs. 2021
A comparative analysis of Bitcoin's price structure in 2021 and 2025 shows a striking similarity in their patterns. Both years exhibit a three-phase cycle: Accumulation, Last Chance, and Life-Changing Wealth. The current market structure in 2025 mirrors the breakout pattern observed in 2021, which led to a significant price rally. If this fractal pattern continues, Bitcoin could potentially enter a vertical expansion phase, with price targets exceeding $150,000 and projections suggesting a supercycle peak between $220,000 and $280,000.
Conclusion
The alignment of on-chain accumulation trends and the technical fractal symmetry reinforces a bullish outlook for Bitcoin. As institutional confidence grows and market dynamics favor upward movement, the cryptocurrency may be on the verge of a significant price rally, potentially retesting previous cycle highs.