Bitcoin Price Prediction: BTC Could Still Rally to $74K as Whales Keep Buying

Bitcoin (BTC) has been trading relatively range-bound in the past few days as the market is struggling to find direction following the latest inflation report in the United States.

Even though geopolitical tensions persist, the odds of a rate increase in September have declined a bit, indicating that market participants see the latest drop in inflation levels as a potential incentive for the Federal Reserve to delay a rate hike.

According to data from FedWatch, the odds that the federal funds rate will stay in a range between 350 and 375 basis points increased 25% a week ago to 36% as of now.

Although half of these analysts believe that the Fed will raise rates by 25bps, opinions seem to be divided, and that could be the cause for the latest phase of consolidation that Bitcoin has experienced in recent days.

Whales Keep Accumulating as BTC Hovers Above $60K

Despite this uncertain scenario, market participants seem to be positioning for a bullish move, as exchange-traded funds (ETFs) linked to Bitcoin have booked a 4-day streak of positive net inflows.

Data from SoSoValue shows that investors deposited $500 million into these vehicles last week to close the period with a $75 million net inflow.

In addition, on-chain data from Santiment shows that whale activity also favors a positive outlook, as wallets holding from 1 to 100,000 BTC increased their stash by 20,000 tokens valued at more than $1.30 billion.

The biggest wallets, those holding from 1,000 to 100,000, were the ones doing all of the buying this time. Overall, since May 2026, this group of wallets has added a total of 10,000 BTC combined.

Whale accumulation plus positive net inflows being poured into ETFs indicate that the smart money is positioning for a bullish move in the mid-to-long term.

The Daily and 4H Chart Exhibit Bullish Patterns

Looking at the daily price action, we recently highlighted that a bullish W-shaped pattern has formed in this time frame. This could precede a strong rally to the next relevant area of resistance for BTC, which we believe is the $74,000 threshold.

The 200-day exponential moving average (EMA) currently sits at that area. That technical marker could act as a magnet for the price action as the market reacted strongly the last time the price got there.

The Relative Strength Index (RSI) has been on an uptrend lately, indicating that positive momentum is accelerating. We see the $66,000 level as the key level to watch for the next few days.

If bulls manage to break past that mark, that could trigger a short squeeze that ends up pushing BTC to that $74K target. At that point, the RSI should generate a “buy” signal upon climbing above the 60 mark.

Heading to the 4-hour chart, we can see that an ascending price channel has formed as a result of the latest price action. Even though the uptrend’s slope is not that pronounced, it still means that the market has been willing to pay higher prices to keep accumulating BTC.

This lower time frame confirms the relevance of this $66,000, and the RSI is sitting at similar levels compared to the daily chart, meaning that this is a fractal.