Bitcoin Whales Cash Out $120M – Is the Next Rally About to Begin?
Data from CryptoQuant shows that long-term Bitcoin whales have recently locked in around $120 million in realized profits. This wave of selling coincided with a pullback in BTC prices, which briefly dipped below $112,000 before bouncing back above $113,000. The move suggests that some large investors are taking advantage of earlier gains while preparing for the next market phase.
Despite the sell-off, sentiment among market watchers is not entirely bearish. Michaël van de Poppe, a well-known analyst, noted that while corrections may still occur, the odds now favor a rebound for both Bitcoin and Ethereum.
He pointed out that the ETH/BTC pair remains structurally strong, and if the 20-week moving average begins to climb, it could provide the foundation for the next leg higher.
Technical indicators add further context. Bitcoin’s RSI currently sits in the mid-range near 55, reflecting neither extreme overbought nor oversold conditions. After months of consolidation and several liquidity sweeps that cleared overleveraged positions, traders are eyeing the $110,000–$115,000 range as a critical support zone.
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If Bitcoin manages to hold these levels, analysts believe it could build momentum heading into October, historically one of its strongest months. Conversely, a break below $110,000 would raise the risk of further downside, but for now, the market appears to be balancing between profit-taking by whales and renewed optimism for another rally.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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