Bitcoin’s largest holders, often referred to as whales, have been actively increasing their positions despite ongoing market uncertainty. According to data from blockchain analytics firm Santiment, these whales have accumulated over 53,600 BTC between March 22 and April 18. This brings the share of BTC owned by entities holding between 10 and 10,000 coins to almost 68% of the total circulating supply.
This accumulation is taking place during a period marked by significant price volatility. Earlier in April, Bitcoin experienced a sharp 13% decline, twice testing key support levels near $74,000. However, the price rebounded strongly, reaching $88,000 on April 15 and is now consolidating in the $83,000 to $86,000 range.
Whale Confidence Amid Macroeconomic Challenges
The increased buying activity by major stakeholders signals a growing sense of confidence despite lingering concerns across broader financial markets. Contributing to the mixed investor sentiment are:
- Geopolitical tensions that inject volatility into global markets
- Unpredictable changes in U.S. trade policy under the current administration
- Lack of a new, clear bullish catalyst following the sharp correction from Bitcoin’s January peak
Bitcoin hit an all-time high of around $109,000 earlier in the year but has since faced downward pressure. While a delay in new tariff implementations contributed to a short-term bounce, analysts are eyeing the $91,000 resistance level as a critical threshold. A breakout above this level could potentially ignite a longer-term uptrend.
Current Market Perspective
At the time of writing, Bitcoin is trading at $85,226, up 0.72% in the last 24 hours. This stability is seen by some as a potential staging ground for the next price move, with large holders quietly positioning themselves in anticipation.
For more details and full analysis, refer to the original article on TradingView.
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