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Bitcoin has reached a new all-time high, breaking through the $125,000 level on Sunday and reinforcing bullish dominance across the crypto market. The rally has reignited speculation about a possible move into price discovery, as investors eye even higher targets in the coming weeks. Altcoins such as BNB and Ethereum (ETH) have followed Bitcoin’s lead, posting impressive gains amid renewed optimism across the board.
Despite the strong bullish momentum, not all analysts are entirely convinced that the rally can continue without interruption. Top on-chain analyst Maartunn shared insights showing that Bitcoin whales have started locking in profits, signaling a possible short-term slowdown or consolidation. According to his data, large holders are realizing gains after weeks of steady accumulation — a pattern often seen near local peaks.
Still, the market’s tone remains largely optimistic. Traders expect volatility to increase as Bitcoin’s new highs attract both retail enthusiasm and institutional activity. If the momentum continues, BTC could soon test $130K and beyond, entering uncharted territory. But if profit-taking accelerates, a correction could offer a healthy reset before the next leg of the bull run. Either way, Bitcoin’s dominance is once again defining the tone for the broader crypto market.
Whales Take Profits as Analysts Warn of Short-Term Cooling
According to Maartunn, Bitcoin whales have been actively realizing profits over the past three days, signaling potential short-term caution across the market. His data shows that both new and old whale cohorts have engaged in heavy selling activity, locking in substantial gains as BTC reached new all-time highs.
The figures are notable:
October 1: New whales realized $167.6 million in profits, while old whales booked $53.2 million.
October 2: Profit-taking intensified with $242.6 million from new whales and $27.9 million from old whales.
October 3: The trend peaked, as new whales realized $277.9 million, while long-term holders added $68.9 million.
Bitcoin Realized Profits by Whales | Source: Maartunn
This sustained activity underscores a common pattern in Bitcoin bull cycles—where large investors take advantage of euphoric conditions to secure profits at local highs. While the broader market remains bullish, this level of distribution typically precedes a cooling phase or minor correction, as liquidity rotates and traders reassess short-term positioning.
Analysts are now watching for potential retracements toward key support zones around $117K–$115K, areas that could determine whether the current breakout evolves into a full continuation or stalls. Still, many agree that as long as Bitcoin holds above major moving averages, the long-term structure remains intact.
In essence, while whales are locking in profits, the broader uptrend shows resilience. The next few sessions will reveal whether this profit realization marks the beginning of consolidation—or just a brief pause before Bitcoin continues its march toward higher price discovery.
Bitcoin is consolidating near $124,000 after an explosive rally that pushed prices to new all-time highs over the weekend. The chart shows BTC holding firmly above previous resistance levels around $117,500, now turned into solid support. This breakout confirms the market’s bullish structure, with higher highs and higher lows forming over the last few weeks.
The 50-day moving average (blue) has sharply turned upward, signaling renewed short-term strength, while the 200-day MA (red) continues trending positively, confirming a healthy long-term uptrend. Momentum remains strong as price action consolidates just below resistance at $125,000–$126,000, an area where sellers previously defended aggressively.
If Bitcoin holds above $122,000–$123,000, bulls could attempt another leg up toward $127,000 and potentially enter price discovery beyond that. However, a failure to sustain this range might trigger a pullback toward $120,000, where buyers will likely step in to maintain trend support.
Bitcoin’s technical outlook remains bullish, supported by high volume and strong market participation. As long as BTC holds above the key $117,500 support level, the broader trend points to further upside — with traders now watching whether bulls have enough momentum to push beyond the $125K barrier in the coming sessions.
Featured image from ChatGPT, chart from TradingView.com
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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
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Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance.
Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.
