Glassnode shows that the supply of addresses holding 1,000-10,000 bitcoins has been increasing since mid-December, with the growth rate reaching a new high since April 2025. Despite volatility triggered by Trump's tariffs, whales continue to buy on dips. Similar behavior in March-April led to a 70% increase in Bitcoin, reaching a new high of $126,200. Technical indicators show a rebound from the bull flag, and liquidation charts indicate dense leverage of 90,000-100,000, with short squeeze potentially pushing prices above 100,000.