Bitcoin has climbed 3.2% in the last 24 hours, contributing to a 3.7% rise across the cryptocurrency market. Despite the upward momentum, whale activity and exchange outflows indicate a potential slowdown in buying pressure. Technical indicators show a bullish divergence, with a breakout above $117,600 potentially setting sights on $134,100. However, a decline below $112,200 could lead to a more significant pullback.