Bitcoin whales keep buying as BTC price dip targets include $94K

Bitcoin Whales Accumulate as Price Hovers Near Highs, But $94K Looms as Potential Support

Bitcoin’s largest investors, often called whales, are actively increasing their holdings despite the cryptocurrency trading just below its all-time highs. However, market analysts warn that a price correction could see Bitcoin drop to as low as $94,000 if momentum continues to fade.

Whales Boost Exposure

On May 28, 2025, Bitcoin is consolidating within a $5,000 range after peaking at $112,000 earlier this month. Data shows whales—investors holding significant amounts of BTC—are steadily accumulating at current levels, a trend seen as a bullish signal. Keith Alan, co-founder of trading resource Material Indicators, noted on X that the market is showing positive signs, with large-volume traders adding to their positions. “BTC is consolidating above $100K, and whales are accumulating,” Alan stated, pointing to a potential bounce zone near the 21-week moving average if prices dip.

One whale’s trading activity has gained attention on social media, with posts detailing rapid sales to avoid liquidation as prices briefly dropped to $108,700 on May 28—a move some attribute to market manipulation by large players. Despite this, the broader trend of whale accumulation persists, reflecting confidence in Bitcoin’s long-term value.

Price Dynamics and Risks

Bitcoin’s current sideways movement comes after a strong rally, but analysts caution that overbought conditions could lead to a pullback. If a correction occurs, $94,000 is flagged as a key support level, aligning with historical patterns and technical indicators like the 21-week moving average. This potential dip aligns with recent market sentiment on X, where some users predict a decline to $97,000-$98,000, noting that the average liquidation price for leveraged whale positions across exchanges sits at $97,650.

The lack of retail interest adds complexity, with Google search volumes for Bitcoin remaining well below their 2021 peak, indicating muted FOMO. Meanwhile, institutional demand remains strong, as seen in recent ETF inflows and futures market activity, but short-term profit-taking by smaller holders could exacerbate downward pressure.

Market Outlook

Bitcoin’s trajectory remains uncertain as it navigates resistance near $110,000-$112,000. Whales’ continued buying suggests a belief in higher prices, potentially targeting $150,000 as forecasted by some traders earlier this week. However, macroeconomic factors, including upcoming U.S. economic data releases, could sway the market. For now, the interplay between whale accumulation and technical resistance will likely dictate Bitcoin’s next move, with $94,000 as a critical level to watch if selling pressure mounts.