What Needs to Happen for Bitcoin to Reach $123K? Here Are 4 Conditions to Watch

Bitcoin struggles to break the $104,250 resistance, reversing gains from the FOMC meeting, but historical trends suggest potential bullish momentum in February.

Institutional investors continue accumulating Bitcoin, while retail investors exit, signaling a strong long-term uptrend despite short-term volatility and consolidation.

Whales Accumulate, Retail Investors Exit

Retail and institutional investor approaches to Bitcoin form the second key determinant which shapes its market direction. Santiment shows the market is in motion because BTC wallets holding small amounts from 0 to 10 BTC operated by retail investors are decreasing gradually. Larger cryptocurrency wallets displaying between 100 to 1,000 BTC demonstrate a constant trend of accumulation.

Retail investors allow emotions to control their behavior when market corrections occur so they tend to sell their assets. The strategic buying strategy of institutional investors focuses on purchasing Bitcoin during price downturns because they maintain long-term investment views. Such buying…