Bitcoin’s OBV Near Breakout Zone as Volume Builds and Dormant Wallet Moves $12.5M

Bitcoin’s OBV trend has climbed steadily since August 2024, now testing resistance near the 1.8M level.

Analyst Ted Pillows says a rejection soon could favor bears, but sustained strength may confirm further accumulation.

A dormant whale moved 100 BTC worth $12.5M after 12 years, coinciding with growing trading volume and market activity.

Bitcoin’s volume momentum is strengthening, with On Balance Volume (OBV) data showing a notable rise in cumulative buying activity. The indicator, which currently is around 1.77 million, shows persistent accumulation since August 2024

This rising pattern shows growing investor confidence as Bitcoin recently hit an all-time high of $126,000 before easing slightly to $124,000. According to analyst Ted Pillows, Bitcoin has surged nearly 10% since the U.S. government shutdown, underscoring how macro uncertainty has not slowed demand across the market.

OBV Trend and Strong Market Accumulation

The OBV has followed an upward move since late 2024, forming a consistent ascending support trendline. Each time the indicator approached this rising line, buying strength emerged, pushing it higher. This behavior suggests that demand continues to outpace distribution

Source: IncomeSharks on X

Currently, OBV is testing a resistance area between 1.77 million and 1.80 million, where previous rallies have paused. However, if Bitcoin’s OBV manages to break above this range, it could mark renewed momentum

A successful push higher would likely attract more inflows, confirming continued accumulation among market participants. On the other hand, a failure to hold above the ascending line or a sharp rejection near resistance may cause short-term retracement toward 1.68 million or even 1.64 million.

Analyst Notes Rejection Risk for Bears

Analyst Ted Pillows noted that bears would prefer to see OBV face rejection within the next day or two. He emphasized that if OBV remains above its trendline beyond that timeframe, the bearish outlook would lose validity

This makes the coming sessions crucial in determining whether Bitcoin sustains its volume driven momentum or encounters short lived exhaustion. The timing coincides with rising optimism following the recent price surge

Bitcoin’s strong move since the U.S. shutdown shows increased trading activity and accumulation across major exchanges. Volume indicators continue to show growing participation, aligning with the broader bullish environment.

Dormant Whale Transaction

Adding to the unusual activity, on chain tracker Lookonchain reported that a long dormant Bitcoin address moved 100 BTC worth $12.5 million after 12 years. The wallet’s owner originally received 691 BTC when the asset was priced at just $132

That $92,000 investment is now valued near $86 million. Such large scale movements often coincide with changes in liquidity or renewed attention to long term holdings

As Bitcoin’s OBV remains near a key resistance zone, these whale transactions and elevated trading volumes together define a critical phase for market direction heading into late 2025.

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