By Chris Hollingworth 
Bitcoin’s price is currently hovering around the $112,500 mark as buyers attempt to maintain its upward momentum. However, further price appreciation may be limited until large holders, known as whales, decrease their selling activity, and institutional treasury companies increase their demand for the popular cryptocurrency.
The ongoing battle between buyers and sellers is a key factor influencing Bitcoin’s price dynamics. Whales, who hold significant amounts of Bitcoin, have the power to impact market trends through their buying and selling decisions. When whales sell off their holdings, it can create downward pressure on the price, making it challenging for buyers to drive the price higher.
On the other hand, the entry of institutional treasury companies into the cryptocurrency market has been a significant development in recent years. These companies, often with large cash reserves, are increasingly diversifying their holdings by investing in Bitcoin and other digital assets. Their growing demand for Bitcoin has the potential to provide support for the cryptocurrency’s price and drive future price appreciation.
In summary, while buyers are currently striving to sustain Bitcoin above $112,500, the cryptocurrency’s upside potential may be limited until selling pressure from whales eases and demand from treasury companies continues to grow. Monitoring the actions of these key market participants will be crucial for understanding Bitcoin’s price movements in the near term.
