TLDR:A longtime Bitcoin whale expanded holdings to 3,600 BTC, maintaining conviction despite a $3.6M unrealized loss.Bitcoin trades near $121K, down 1.26% in 24 hours but slightly higher over the week, per CoinGecko data.Analysts eye $120K as a crucial support level; a breakout above resistance could trigger new all-time highs.Ichimoku-based models point to a prolonged bull cycle possibly extending into 2026 with upside to $270K.A longtime Bitcoin whale has expanded his position, now holding around 3,600 BTC while sitting on an unrealized loss exceeding $3.6 million. Despite short-term price dips, the investor appears undeterred, positioning his liquidation level at $139,900 per BTC. This confident stance reflects continued belief in Bitcoin’s longer-term trajectory even as the market takes a breather. The move highlights how early adopters continue to treat Bitcoin’s pullbacks as accumulation phases rather than exit points.According to Bitcoinsensus, the whale remains confident through current volatility, suggesting conviction in the asset’s long-term strength. Bitcoin’s price at press time stood near $121,551, down 1.26% in the past 24 hours but still up 0.94% over the week, based on CoinGecko data. BITCOIN OG WHALE UPDATEA longtime #Bitcoin whale has increased his position to 3,600 $BTC, currently sitting on an unrealized loss of $3.66 million. His liquidation price is positioned at $139,900 per BTC, meaning he’s still confidently holding through volatility and… pic.twitter.com/6wkq8Ydhim— Bitcoinsensus (@Bitcoinsensus) October 10, 2025Traders Watch Key Bitcoin Price Levels Around $120KMarket analyst Daan Crypto Trades observed that Bitcoin recently swept its all-time high before settling into consolidation. He noted that the price currently moves below a diagonal resistance level. A breakout above this area could drive a quick push to new highs, while failure to hold above $120,000 might lead to a drop toward $114,000–$115,000.Daan said the broader trend remains upward, but traders must watch where the next higher low forms. This cautious tone reflects the ongoing tug-of-war between bulls seeking momentum and traders waiting for clearer confirmation. $BTC Not here to overcomplicate things.We saw a sharp impulse up and an all time high sweep.Currently price is consolidating beneath this diagonal resistance. If that's broken, I am expecting this to move to new highs pretty quickly.Key area to hold below is ~$120K. If… pic.twitter.com/MK7gYzINWJ— Daan Crypto Trades (@DaanCrypto) October 10, 2025The market’s reaction around $120K is now viewed as a key short-term indicator of sentiment.As Bitcoin consolidates, many short-term traders remain focused on volatility. However, larger holders appear to be taking a longer view. Their patience suggests confidence in Bitcoin’s structural strength despite sharp price swings.Analyst Points to Extended Bull Run AheadTechnical analyst Dr Cat provided a broader outlook using Ichimoku’s Wave Theory. He suggested that the current rally could represent only the first leg of a larger multi-year cycle. If the pattern continues, Bitcoin may still have two more bullish waves to complete before the trend peaks.BTC price chart, Source: Dr CatDr Cat projected that the ongoing supercycle might extend into 2026 or even 2027, potentially pushing prices toward $270,000 or higher. While emphasizing that Ichimoku’s framework is probability-based and flexible, his model supports the view of a prolonged upward phase.For now, Bitcoin’s steady range around $121K underscores how the market is balancing renewed optimism with caution. Whales, traders, and analysts appear to agree on one thing, the long-term story of Bitcoin is still unfolding.The post Whale Boosts Bitcoin Bag to 3,600 BTC as Market Consolidates appeared first on Blockonomi.