
The crypto market is usually quiet on weekends. Trading volume drops significantly, and the prices of the largest coins by market capitalization generally do not experience major fluctuations. Important news that could significantly impact the market is rare on weekends, and institutional investors are also inactive. Nevertheless, the Bitcoin price is slowly but steadily rising today and has now exceeded the $85,000 mark. Now, whales are also increasing in number. Overall, there are increasing signs that Bitcoin is now quickly heading back toward $100,000.
Bitcoin Whales Are Growing
In the crypto market, people often talk about whales, meaning investors who invest significant sums in the market and thus bring big money into the market. The Bitcoin supply is already so scarce that not everyone can own a whole Bitcoin. With whales, who often hold significantly more than one coin, the supply becomes even more scarce, which can quickly drive up the price when demand increases.
Currently, it appears that demand is rising significantly again. The number of wallets holding more than 10 Bitcoin has risen sharply in recent days. 132 new wallets were recorded within 24 hours alone, which now hold Bitcoin assets of more than 10 $BTC.
While every transaction on the blockchain is publicly visible to everyone at any time, you never know who is behind the respective wallets. Nevertheless, whale activity, in particular, is often closely monitored. The idea is that if millionaires or billionaires are buying Bitcoin, you as a small investor can’t go wrong either. The fact that whales are now increasingly entering the market again is definitely a bullish sign.
Tariff fears subside
When an asset experiences a sharp correction or crash, it’s always a good idea to ask yourself whether its fundamentals have changed for the worse. Bitcoin has plummeted around 30% from its all-time high. However, this is by no means due to a deterioration in its fundamentals. Quite the opposite. Trump wants to make the US the world’s crypto center and build a strategic Bitcoin reserve.
There has never been a more bullish market environment for Bitcoin. Global financial markets declined primarily due to the trade tariffs that Trump imposed on all sorts of countries. Now, however, the waters are slowly calming down, and investors appear to be acting more rationally again. After rising to $84,000 yesterday, the Bitcoin price has already recaptured the $85,000 mark today.
After announcing a 90-day tariff pause midweek, exempting only China, Trump has now also exempted smartphones and computers. This clearly shows that the situation is probably not as dramatic as initially portrayed.
Whether there will be further easing of tariffs in the future, or whether the US President will reconsider, is currently unclear. What is fairly certain, however, is that market participants would probably not react quite as strongly to further punitive tariffs as they did last week. At least we have now seen that agreements are ultimately being sought that all parties can live with.
This means there is a good chance that the bullish Bitcoin forecasts for this year could still be achieved. Many analysts expect a Bitcoin price of $250,000 or more by the end of the year. When the stock markets open on Monday, the news of the easing of tariffs could push the Bitcoin price significantly closer to the $90,000 mark.
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