Market Wrap: Will Bitcoin Price Surge Back Above $105K After This $227M Whale Buy?

Bitcoin price faces resistance at $105,630–$108,900, with strong support at $95,440.A massive whale purchase of $227 million in BTC has reignited market optimism as traders watch for a surge above the $105,630 mark.BTC is holding above its 200-day SMA, signaling bullish control, but the RSI at 67.57 warns of possible profit-takingBitcoin price is making waves again as the king of crypto battles to reclaim its throne above the $105,000 mark. The price of BTC is up 1.4% in the last 24 hours and is trading at $103,548. This week has been a wild ride for BTC, with some major developments shaking the market and a massive $227M whale buy sparking mad FOMO. Let’s break it down.Bitcoin Price Sports Recovery Amid $227M Whale PurchaseAccording to data from Arkham Intelligence, a whale just scooped up $227M worth of BTC. That’s a serious bag, and it’s got the community speculating. Whales don’t mess around—they often signal big moves, and this buy has traders thinking Bitcoin price might be on the verge of a breakout. Bitcoin Transactions Record | Source: Arkham IntelligenceData from Santiment shows a spike in Bitcoin’s social activity, with social volumes associated with slight bearishness starting to increase. According to Santiment, Bitcoin recently faced some resistance at the $105,000 level, and this temporary “pumping of the brakes” has been enough to swing traders slightly bearish once again. Markets generally tend to move opposite to the crowd’s expectations, suggesting a heightened probability of crypto markets rising due to this increased fear.Bullish vs. Bearish Keyword Frequencies (BTC/ETH/Altcoin/Crypto) | Source: SantimentCrypto analyst Ali shared IntoTheBlock data showing that $95,440 is currently the most important floor for Bitcoin, as there are $1.35 trillion worth of Bitcoin Longs at that level, spanning 2.2 million addresses.In/Out of the Money (IOMAP) for Bitcoin | Source: IntoTheBlockIf BTC price action turns bearish, $95,440 is the level to watch.BTC Price Eyes 9% Surge in the Short-TermThe daily BTC/USD chart shows Bitcoin chilling around the $103,264 mark as of May 16, 2025. The price has been grinding above a key support zone of $101,003, which is the 0.382 Fibonacci retracement level. Above that, there’s a major resistance at $105,630 to $108,900. BTC’s gotta flex some serious muscle to break through that.The chart also shows a 200-day simple moving average (SMA) at $92,306, which BTC is currently above. That’s a good sign, as staying above the 200 SMA often means the bulls are still in control. But here’s the spicy part: the RSI (Relative Strength Index) is at 67.57, creeping close to overbought territory (above 70). If RSI keeps climbing, BTC price might see a quick dip as traders take profits, but if it holds steady, the momentum could push BTC higher.BTCUSDT Chart by TradingviewLooking at the price targets on the chart, if Bitcoin breaks that $105,630 resistance, the next stop could be $108,900, with a stretch goal of $113,115.Conversely, if the bears take over and the price drops below the $101,003 support, Bitcoin might slide to $98,145 or even $93,518. The whale buy signals bullish optimism, but the RSI warns of caution since overbought conditions can lead to a fakeout.Where’s Bitcoin Price Headed?Bitcoin’s got the momentum, and that $227M whale buy is a Chad move that could spark a rally. If BTC can smash through $105,000 with volume, it might flex back to $108,900 and beyond. But keep an eye on that RSI—if it gets too hot, a quick pullback could be on the horizon before the next leg up. Either way, Bitcoin’s looking primed for action.The post Market Wrap: Will Bitcoin Price Surge Back Above $105K After This $227M Whale Buy? appeared first on Blockzeit.