Bitcoin (BTC) Price: Whales Are Buying the Dip - Is $100K Still on the Table?

TLDR

• Bitcoin is trading around $78,000 after pulling back from a weekly high of $81,500
• BTC’s 90-day correlation with gold has climbed above 50%, while its Nasdaq 100 correlation dropped to 33%
• Whales are accumulating while smaller wallets (0.1–1 BTC) are distributing
• The key support level to watch is $73,880 — losing it could weaken the current uptrend
• Coinbase CEO Brian Armstrong says BTC has a “good chance” of hitting $100,000 by year-end

Bitcoin has pulled back to around $78,000 after touching a three-month high of $81,500 earlier this week. The move marks a roughly 31% gain since August 1, when BTC was trading at $62,229.

The pullback has not changed the broader picture for larger holders. On-chain data shows wallets holding larger amounts of BTC have been accumulating during the advance. Smaller wallets, those holding between 0.1 and 1 BTC, posted an Accumulation Trend Score of -0.982, showing they have been selling into the rally.

This kind of split — whales buying while retail sells — is often seen as a sign that coins are moving from short-term holders to longer-term investors.

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