Recent signals from Bitcoin whales and miners have sparked discussions about a possible rally in the near future. According to new data released by CryptoQuant, large Bitcoin holders currently hold a total balance of 3.57 million BTC, which is nearing the previous peak of 3.74 million BTC recorded in early 2021.

When whales steadily accumulate their holdings, they effectively act as significant buyers, absorbing excess supply and creating demand pressure. This growing accumulation reduces the available circulating supply and provides upward price support. The ongoing increase in whale holdings indicates that institutional and high-net-worth investors perceive dips as buying opportunities and are anticipating higher prices ahead.

However, not all indicators are pointing upwards. CryptoQuant's Hash Ribbons metric, which tracks miner stress, recently sent a buy signal. This typically signifies short-term volatility as miners encounter profitability challenges, prompting some to sell Bitcoin to sustain operations.

Historically, these short-term periods of miner stress have often preceded sustained price rallies. When miners capitulate and sell off their assets, it can lead to an initial price drop. However, over time, this process removes weaker participants from the market and tightens the supply-demand dynamic.

Last week, Bitcoin exhibited notable volatility, influenced by a highly publicized disagreement between Elon Musk and Donald Trump. As a result, Bitcoin briefly fell below $101,000, triggering nearly $1 billion in liquidations. Nevertheless, Bitcoin rapidly rebounded to above $105,000, demonstrating resilient buying pressure.

Technical analysts remain optimistic, highlighting a \"cup-and-handle\" pattern on Bitcoin's daily chart. If prices surpass $108,000, this formation suggests a potential bullish breakout.

Institutional activity further supports this positive outlook. Bitcoin futures open interest has increased by more than $2 billion in recent days, while funding rates have remained low. This environment creates favorable conditions for a potential short squeeze.

At present, whale accumulation and miner stress metrics define a clear trading range. Strong support exists between $100,000 and $102,000, meaning Bitcoin is likely to maintain its psychological $100,000 level even during short-term corrections. Meanwhile, resistance looms around the $108,000–$110,000 zone. A breakout in this area could accelerate prices towards $120,000.

Traders should monitor key catalysts closely, such as further miner selling, as these events can rapidly impact price movements. Additionally, macroeconomic developments involving the Federal Reserve and global trade dynamics are expected to keep volatility elevated.

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