New Bitcoin whales may send BTC price to $85K: Here’s why

Recent on-chain analysis indicates a significant shift in Bitcoin (BTC) ownership dynamics, suggesting that a new cohort of large-scale investors, commonly referred to as ‘whales’ (wallets holding 1,000 BTC or more), are aggressively accumulating supply. This trend historically precedes major bullish price movements, providing a strong rationale for predictions that BTC could target the $85,000 price point.

The primary driver of this optimistic forecast is the induced ‘supply shock.’ Data from various analytics firms shows that Bitcoin reserves held on major centralized exchanges are dropping rapidly, hitting multi-year lows. When large holders move substantial amounts of BTC from exchanges into cold storage wallets, it signals long-term conviction rather than short-term trading intent. This reduces the immediate liquid supply available to meet spot market demand.

Crucially, this accumulation is being driven by newly established whale addresses, suggesting fresh institutional or ultra-high-net-worth individual capital entering the market rather than just existing whales topping up their holdings. The emergence of these new, deep-pocketed investors validates the current market cycle and indicates broad confidence in Bitcoin’s future trajectory.

Furthermore, the $85,000 target is strongly supported by technical analysis. Following the breach of the previous all-time high resistance band, technical models often point toward specific Fibonacci extension levels as the next significant psychological and resistance targets. Should Bitcoin consolidate above the $70,000 level, the technical path of least resistance strongly aligns with the $85,000 zone. If accumulation patterns persist and macro market conditions remain favorable, the combination of severely restricted supply and institutional demand is poised to propel BTC prices toward this next major milestone.

Source: New Bitcoin whales may send BTC price to $85K: Here’s why