Key Insights:
- Whale accumulation trend continues, signaling steady buying from large Bitcoin holders.
- Institutional investments rise, with public companies increasing their Bitcoin reserves.
- Analyst predicts Bitcoin breaking out of bull flag, with target set at $88,400.
Bitcoin’s price has remained volatile in recent weeks. After surging to a multi-week high of $88,800, the asset faced a sharp reversal. It fell to $81,600 as resistance levels rejected upward momentum.
Despite a weekend recovery, Bitcoin dropped again on Monday to a weekly low of $81,200. It then rebounded slightly, briefly crossing $85,000. The cryptocurrency now consolidates near $84,000, reflecting mixed sentiment in the market.
Bitcoin Whales Show Continued Accumulation
Despite recent volatility, data from Glassnode suggests a growing accumulation trend among BTC whales. Those holding more than 10,000 BTC have seen their Accumulation Trend Score rise steadily, nearing 0.6.
This is in stark contrast to smaller holders, whose accumulation scores have dropped below 0.2, signaling a shift toward distribution. This divergence between large and small holders highlights a clear trend: while smaller players are selling off, whales are accumulating more BTC.
The past month has seen a notable increase in the number of Bitcoin held by large entities. Since March 11, whales have added a total of 129,000 BTC, marking the largest accumulation rate since August 2024. Over the last few days, the pace of accumulation has picked up sharply, indicating growing confidence from institutional and high-net-worth players.
As of Glassnode’s March 23 report, the Bitcoin Accumulation Trend Score stands at 0.23, the highest level since early January, further confirming the shift toward accumulation. However, despite the increase in whale activity, the average Bitcoin supply per whale remains below December levels, suggesting that more growth could be expected if the trend continues.
Public Companies and Institutional Activity
While Bitcoin whales have been actively accumulating, public companies have also joined the buying spree. In the first quarter of 2025, several public firms added significant amounts of Bitcoin to their balance sheets.
Notably, MicroStrategy, the largest corporate Bitcoin holder, purchased 81,785 BTC during the quarter, investing over $8 billion. Additionally, Tether increased its reserves by 8,888 BTC, bringing its total holdings to 92,646 BTC. Smaller companies, including Blockchain Company, Semler Scientific, and Metaplanet, also added to their Bitcoin reserves.
Reactions to the market corporate purchases have been varied. Despite the influx of institutional capital, Bitcoin’s price experienced a sharp decline from $94,400 to $82,500 in the same period. In Q1, long term holders proved a key factor in this drop as they sold out 178,000 BTC. Also at this time, $4.8 billion flowed out of Bitcoin ETFs, which also put pressure on Bitcoin price.
Analyst Prediction: Bull Flag in Play
All of these developments are being closely watched by market predictors. An analyst known as Titan of Crypto pointed out that Bitcoin seems to be breaking out from a bull flag formation. This imply the cryptocurrency could rally short term. In light of the analyst post, Bitcoin price is above Ichimoku cloud.
The cloud remains thin, suggesting reduced resistance ahead. If the BTC price breakout holds, Titan forecasts a target of $88,400.
Market watchers flagged possible short-term volatility tied to U.S. President Donald Trump’s new tariffs, set for implementation on “liberation day.” These developments could inject further uncertainty into an already unstable market.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
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