According to data provided by IntoTheBlock, a total of $6 billion net outflow occurred from the stock markets over the past seven days. Approximately $3.9 billion of this amount was recorded only on November 19.

This impressive wave of accumulation allowed Bitcoin to record an all-time high (ATH), reaching $99,655 on November 23. The weekly net inflow of $3.38 billion into US-based spot Bitcoin exchange-traded funds also contributed significantly to this rise of Bitcoin.

This movement in Bitcoin price has caused significant changes in the behavior of different investor groups. Data shows that retail investors are much more active in this process. On the other hand, Bitcoin movements of large investors, called whales, have decreased significantly.

According to ITB data, the number of large transactions involving Bitcoin transfers worth at least $100,000 decreased from 32,000 to 19,500 between November 21-24. The total volume of these transactions decreased from 136.4 billion dollars to 53.6 billion dollars. However, it was recorded that a total of $243.67 billion worth of whale transactions took place during the past week.

In light of this data, it appears that retail investors are buying more than whales. However, a recovery in net flows from large investors has been observed in recent times.

As of November 24, whales’ net flow has changed from a net outflow of 9,190 BTC to a net inflow of 4,090 BTC. This indicates that a psychological effect known as “fear of missing out” (FOMO) may occur among market participants.

If Bitcoin exceeds the $100,000 level, it is considered that the buying pressure may increase further among both small and large investors.

Over the last 24 hours, Bitcoin has experienced a period of consolidation near the $98,000 level. However, during this period, daily transaction volume increased by 27% and reached $55 billion. In contrast, the total value of the global cryptocurrency market decreased by 2.3% in the last 24 hours, falling to $3.47 trillion.

The market-wide decline, which started with Bitcoin falling below the $98,000 level, especially negatively affected altcoins with small market capitalization and led to a total liquidation of $494 million.

These new price movements of Bitcoin continue to attract the attention of not only retail investors but also large investors. Increasing inflows into spot exchange-traded funds in the US and a steady wave of savings by retail investors are further cementing Bitcoin’s influence on the market.

In contrast, whale trading volatility and overall market volatility require investors to remain cautious.

Market analysts state that Bitcoin exceeding the $100,000 level could trigger a new upward wave. According to Bitget Research chief analyst Ryan Lee, Bitcoin price can achieve this goal in line with historical trends.

“If history repeats itself and Bitcoin prices grow as predicted, a 14.7% increase from the current price level could push Bitcoin above the $100,000 level,” commented Lee.

However, some experts state that increased leverage in crypto markets may pose risks. Crypto.com CEO Kris Marszalek said in a statement on November 12 that the market must experience a correction in leverage before Bitcoin exceeds the $100,000 level.

Bitcoin’s price movements mark a remarkable period not only for the cryptocurrency market but also for the global financial world. A break above the $100,000 level will be a critical threshold for both investors and markets.