The price of Bitcoin (BTC) fell 1.66% in the last day after failing to break above $102,000 on Friday. Currently, the cryptocurrency market leader appears to be in consolidation with little indication of its next price move. However, recent whale activity indicates a continued upward trajectory.

Bitcoin whales confident of future rally with increasing accumulation levels

In Quick post on SaturdayCryptoQuant analyst Darkfost highlighted the recent activity of Bitcoin whales regarding certain price levels.

A popular cryptocurrency expert has stated that market whales, i.e. investors holding over 1,000 BTC, are now consistently increasing their BTC accumulation whenever prices fall between $95,000 and $99,000. Darkfost’s observation can be supported by recent data shared by fellow analyst Ali Martinez, who reported that Bitcoin whales purchased 20,000 BTC worth over $2 billion after the asset crashed on Friday.

Interestingly, the CryptoQuant analyst states that BTC whales showed a similar accumulation pattern with the asset trading in the $55,000-$70,000 range for over eight months before the recent rally began in November.

Therefore, an boost in whale numbers at $95,000-$99,000 could transform this price range into a robust support zone that will trigger further price increases in the miniature to medium term. According to data from CryptoQuant, Bitcoin whale holdings are currently just under 12 million BTC, which is a robust bullish signal that indicates growing market interest and confidence.

Parabolic growth for BTC?

In other developments, cryptocurrency analyst Burak Kesmeci predicted Bitcoin’s upcoming parabolic rise, which is tied to a certain condition. Using the Bitcoin Gold Ratio (BGRM) multiplier, Kesmeci was able to identify two crucial price points for the larger cryptocurrency. These are the $100,000 that Bitcoin has already reached, and the $125,000.

As the name suggests, BGRM is a trading tool that compares the price of gold with the price of Bitcoin. It is used to assess the relative performance of BTC as a store of value relative to gold and can identify significant resistance and support levels.

According to Kesmeci, BGRM points to $125,000 as a critical price level and a potential threshold for further increases. By breaking out of this price region described as “2 potential bullish high”, Bitcoin is likely to experience a parabolic price boost based on historical data.

At the time of writing, BTC is currently trading at $100,130, having increased by 0.50% in the past day. However, the asset’s daily trading volume dropped by a staggering 56.67%, valued at $47.51 billion.