Bitcoin News: Price Nears $100k as Bitfinex Whale Activity Surges and Metaplanet Boosts Holdings

Bitcoin Price Approaching $100k, Bitfinex Whale Activity Increases

Bitcoin is showing a steady recovery with its price approaching the $100,000 mark, regaining some of the losses from recent weeks. Notably, there's been a 2.6% increase in the past 7 days, with the price now hovering above $98,000. Parallel to this price movement, significant activity among large holders on exchanges, particularly Bitfinex, has been observed, suggesting a shift in market dynamics.

Metaplanet Expands Bitcoin Holdings with $6.6 Million Purchase

Metaplanet, a Japanese investment firm, has continued its aggressive accumulation of Bitcoin, recently acquiring an additional 68.59 BTC at an average price of $96,335 per Bitcoin. This purchase, totaling almost $6.6 million, brings the company's total Bitcoin holdings to 2,100 BTC. Metaplanet has set ambitious targets to acquire 10,000 BTC by 2025 and 21,000 BTC by 2026, positioning itself as a significant holder of the cryptocurrency in the face of economic volatility.

Bitcoin Long-Term Holders Reduce Selling Pressure

Since the crypto market entered a volatile period, Bitcoin faced heightened selling pressure causing its price to drop toward the $93,000 support level. However, there is now a reduction in selling pressure as long-term holders have tightened their grip on Bitcoin. An on-chain expert at CryptoQuant, Axel Adler Jr., noted that Bitcoin’s long-term holders have significantly reduced their spending activity, signaling a potential change in market dynamics.

Altcoins Ready For Round Two? CryptoQuant CEO Suggests Altseason Has Begun

As the crypto cycle progresses, investors anticipate the Altseason. CryptoQuant's CEO, Ki Young Ju, affirmed that the Altseason has begun, suggesting that there will not be a direct Bitcoin-to-alt rotation this cycle. According to Ju, stablecoin holders are favoring Altcoins, and Bitcoin is no longer a quote cryptocurrency. He noted that Bitcoin Dominance doesn't define the altseason anymore.

Analyst Tips Bitcoin for $150,000 in 2025; BTC Bull Token Garners Attention

One analyst expects Bitcoin to reach $150,000 by the end of 2025, drawing attention especially as Bitcoin has been volatile recently. Despite hovering below $100,000, Bitcoin is up nearly 6% from its low on Tuesday, with spot trading volumes up 24% since yesterday. Investors are looking for ways to participate in the potential Bitcoin rally, with a new presale project, BTC Bull Token, catching experts’ attention.