The stakes are incredibly high for Bitcoin this week. The cryptocurrency is fighting to maintain its perfect October record, with six consecutive years of gains on the line. However, it must break above $115,000 to avoid its first red October since 2018. Meanwhile, Bitcoin whales are placing massive bets that it will succeed.
Bitcoin Whales Accumulation
On-chain data reveals a stunning accumulation spree. One anonymous wallet scooped up 3,195 BTC, worth a staggering $356.6 million, from Kraken. This enormous purchase signals extreme confidence from a major player. Furthermore, another Bitcoin whales on Hyperliquid placed a $16.6 million long bet with 40x leverage, a wildly bullish and aggressive position.
The $115,000 Battlefield
The price action is at a critical juncture. Bitcoin is currently down 2.1% for the month, starting October around $114,000. The community is now laser-focused on the $115,000 to $116,000 resistance zone. A clean break above this level would not only secure the historic monthly green streak but could also ignite a powerful FOMO rally.
Analysts are comparing the current consolidation to patterns seen in the 2021 bull market. However, they warn that a failure to break out soon could lead to another corrective dip. The immense whale buying provides a strong foundation, but retail participation is ultimately needed to fuel the next leg up.
My Thoughts
The whale activity is undeniably bullish. Moving $356 million off an exchange is a classic long-term accumulation signal, not short-term speculation. These players are betting on a major macro move, not a quick pump. While the monthly close adds drama, the real story is the immense institutional and whale support building at these levels. If retail FOMO finally kicks in, the move above $115,000 could be explosive.
