TLDR
- Bitcoin crossed $113,000 as Asian demand outweighed heavy whale selling.
- The BTC price rose by 1.6 percent and reached intraday highs of $113,365.
- An OG whale transferred 250 BTC to Binance following a 750 BTC sale.
- Peter Brandt said that market tops are created by supply and distribution.
- Around $40 million in crypto shorts were liquidated during the BTC price surge.
Bitcoin gained momentum on Thursday and crossed $113,000, as Asian market demand outweighed ongoing whale distribution. Data from Cointelegraph Markets Pro showed BTC/USD increasing by 1.6% and touching $113,365 intraday. Analysts highlighted that BTC price moved higher despite evident selling pressure from long-term holders.
BTC price faces whale distribution
Traders witnessed a significant whale transaction as an “OG” wallet transferred 250 BTC, worth $28.2 million, to Binance. This transaction followed a larger move of 750 BTC the previous day, raising attention across trading circles. Such distributions often trigger concerns since coins involved typically remain dormant for years.
Bitcoin OG "bc1qlf" just deposited another 250 $BTC($28.29M) to #Binance, with 3,000 $BTC($339M) left.https://t.co/92XAZMJQsp pic.twitter.com/fAugznA7gL
— Lookonchain (@lookonchain) August 28, 2025
Market veteran Peter Brandt pointed out that the move fit historical market behavior at tops. “It represented SUPPLY. Tops in markets are created by SUPPLY or DISTRIBUTION,” Brandt explained in a statement on X. His remarks reflected caution around the sustainability of current momentum in the BTC price.
Despite whale activity, data showed that $40 million in crypto shorts were liquidated within four hours during the rise. The action highlighted how quickly positions shifted once BTC price reached higher levels. Resistance levels remain overhead, suggesting further volatility ahead.
Retail and institutional accumulation
However, analysts also noted a contrasting trend among retail and institutional participants. Andre Dragosch of Bitwise explained that accumulation by both groups had reached its highest since April. He added, “Such high level of accumulation tends to precede major breakouts to the upside.”
🚨WATCH: The rate of accumulation across all $BTC wallet cohorts has increased to the highest level since April 2025!
Both retail & institutional investors appear to be stacking relentlessly atm.
Such high level of accumulation tends to precede major breakouts to the upside… pic.twitter.com/RbEjBKy6hT
— André Dragosch, PhD⚡ (@Andre_Dragosch) August 27, 2025
Data from Bitwise suggested that buying continued even after BTC price fell below $75,000 earlier this year. Observers pointed out that such consistent activity from retail and institutions indicated strong confidence in the market. This accumulation provided balance against heavy whale distribution.
Market watchers believe that ongoing accumulation could provide a foundation for sustained upward momentum. Dragosch’s outlook implied that BTC price may benefit from steady inflows. Traders remain focused on whether demand can outweigh the supply from whales.
Technical signals and outlook
Peter Brandt maintained that Bitcoin must reclaim $117,500 to avoid a bearish trend reversal. He noted that failure would risk a “double top” formation around recent all-time highs. Such a scenario could undermine seven weeks of positive BTC price movement.
Meanwhile, the Coinbase Premium Index flashed a warning before the Wall Street open. CryptoQuant data showed the premium turning red, reflecting weaker U.S. demand after a strong start to the week. The signal suggested Asian demand remained stronger while U.S. interest softened.
In conclusion, BTC price momentum held despite whale selling, as Asian activity and institutional buying continued to support levels above $113,000. Traders now await whether Bitcoin can sustain this level and push toward $117,500. Market signals remain mixed, with supply from whales and demand from buyers shaping the next move.
