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According to the CryptoQuant weekly report, the Bitcoin ($BTC) bull market cycle is not over yet, with short-term support level located around $100,000.
CryptoQuant: Bitcoin Bull Cycle Not Over Yet, Short-Term Support at $100,000
According to on-chain data, the total balance of whale addresses holding between 100 and 1,000 $BTC has reached approximately 5.16 million $BTC. This amount equates to 26% of Bitcoin's circulating supply and suggests that whales have become the most influential group of investors in the market.
Throughout 2025, these whale addresses reportedly added a total of approximately 681,000 $BTC, while small investor addresses reportedly exhibited a net selling trend. This suggests institutional investors are absorbing individual sales.
The annual $BTC accumulation rate of whale wallets is 907,000, above the 365-day average of 730,000 $BTC, indicating that long-term demand remains strong.
However, the report notes that short-term buying momentum is weakening. It also suggests that if the monthly accumulation rate fails to regain momentum, Bitcoin's price may struggle to break above $126,000.
Currently, resistance is at $115,000, while support is at $100,000. Analysts predict that if the price breaks below $100,000, a pullback to $75,000 is possible.
CryptoQuant states that current data indicates that the Bitcoin market is still in the late stages of its bull cycle.
*This is not investment advice.