Whales are accelerating to accumulate: Is Bitcoin about to break its peak in August?

In the past two weeks, Bitcoin seems to be "catching its breath" before a new journey, as the price remains stable in the zone of 117,261 – 120,000 USD. Although it has not yet reached a historic peak, the quiet movements from investors are hinting at a promising scenario: August could become a breakthrough moment, rewriting the price journey of the largest cryptocurrency in the world.

Bitcoin investors send positive signals: Whales accelerate accumulation

The selling risk ratio of Bitcoin is currently at 0.24 – the highest in the last 6 months. However, this figure remains below the neutral threshold of 0.4 and closer to the "low value" level of 0.1, reflecting a period of consolidation rather than a sell-off. This indicates that the significant selling pressure has eased, paving the way for market stability.

According to historical data, periods of low selling risk often coincide with times of strong accumulation or bottom formation, when investors patiently wait for opportunities to push prices higher. This is the basis for strong growth phases in the past.

The selling risk ratio of Bitcoin | Source: GlassnodeNotably, Bitcoin's accumulation trend point has remained close to 1 for the past two weeks. This shows that large investors – including whales and institutions – are actively increasing their holdings of Bitcoin. With a significant influence on the market, this move could create a solid foundation for BTC to overcome tough resistance zones.

The stable accumulation from institutions and high-value investors not only reinforces confidence in the long-term value of Bitcoin but also increases the likelihood of a new bull run if capital continues to flow into the market.

Accumulation points of Bitcoin trend | Source: Glassnode### Bitcoin is facing the opportunity to conquer its historical peak.

Currently, the price of Bitcoin is fluctuating around 118,864 USD, within the accumulation zone of 117,261 – 120,000 USD. Although this trend remains stable, the likelihood of breaking the 120,000 USD mark is increasing if investor sentiment continues to hold strong.

According to historical data, August is usually a weak period for Bitcoin, with an average return of around -8.3%. However, considering the low sell risk ratio and the strong accumulation trend from major investors, BTC may reverse the historical trend this year. If it maintains support at 120,000 USD, Bitcoin could potentially surpass 122,000 USD and approach the all-time high (ATH).

BTC price chart | Source: TradingViewConversely, the risk of correction still exists if the market encounters unexpected factors that cause investors to change direction. In a worst-case scenario, BTC could lose support at 117,261 USD and drop to 115,000 USD, reversing the recent uptrend.

Annie