Since March 12, the Bitcoin (BTC) price has risen by almost 15%, and the $90,000 mark is gradually coming back within reach. Adding further momentum to this uptrend is the renewed activity of so-called Bitcoin whales – large investors holding between 1,000 and 10,000 BTC. At the same time, technical indicators suggest that the market may be preparing for a new breakout.
Whale Activity at Highest Level Since December
According to recent data, the number of Bitcoin whales has risen to 1,991 – the highest level since December 15, 2024. While the increase of eleven wallets may seem small at first glance, the underlying pattern is telling. After months of relative inactivity, institutional players appear to be regaining confidence in the market.
Whales are often considered “smart money.” An increase in their activity is usually seen as a sign of optimism about future price developments. This type of accumulation is therefore often seen as a harbinger of larger price movements.
What does this mean for the Bitcoin price?
If Bitcoin manages to convincingly break through the current resistance, the path towards the $93,000 zone will be clear. If the uptrend continues, even higher price targets could be tested. Nevertheless, the psychological mark of $100,000 remains the ultimate goal for now – and a real challenge.
Keep an eye on critical price zones
Despite the positive signals, caution is advised. Open interest in Bitcoin futures was already noted at the beginning of this week to be unusually high. This increases the market’s vulnerability and increases the risk of sudden chain reactions.
Technically, the price remains in a downtrend with falling highs and lows (“lower highs” and “lower lows”). A decline towards the recent support zone at around $76,000 therefore remains a realistic scenario.
However, there are also clear signs of optimism. The increasing activity of whales suggests that “smart money” expects rising prices. Furthermore, the second quarter – and April in particular – is historically considered a strong period for risky assets like Bitcoin.
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