Key Insights:
- A whale bought $128 million worth of Bitcoin, signaling bullish sentiment.
- Bitcoin’s trendline breakout suggests a potential price rise of 12% to 13%.
- Market sentiment turns positive as Bitcoin holds above key resistance.
A whale recently bought $128 million worth of Bitcoin, signaling increasing accumulation at a time when technical momentum is shifting bullish. The move coincided with Bitcoin breaking out of a key descending trendline. Analysts now anticipate a 12% to 13% price rally if the bullish momentum sustains.
Whale Purchase Signals Bullish Sentiment
The $128 million Bitcoin purchase from the whale came as the market showed strong bullish movement. BTC had recently broken above a crucial trendline that had been acting as resistance since early February.
The whale’s large buy indicates that institutional interest in Bitcoin is growing. Large transactions show that whale investors believe the price of BTCis going up. This large buy goes in line with the recent trendline breakout and could hint at broadening confidence in the market.
Bitcoin’s Trendline Breakout Points to Bullish Movement
Market analyst ZAYKCharts has identified Bitcoin’s recent trendline breakout as a key moment in the cryptocurrency’s price action. The breakout from the descending trendline implies that Bitcoin is gearing up for a rally. The market also appears bullish after this breakout, as BTCis now above key resistance levels and expecting more price action in the upside direction.
Notwithstanding, ZAYKCharts has set a price target, and Bitcoin may see a rise of 12.15% and 13.15%. If the predictions are confirmed, BTC will reach the price of $95,000. The rally will continue as the price is still above crucial support levels.
Corporate Bitcoin Adoption Accelerates
In Bitcoin’s ‘bullish’ movement, corporate adoption of the cryptocurrency remains on the rise. Companies combined to buy a record 95,431 BTC in Q1 2025 as institutional interest in Bitcoin grows. Aggressive buying from corporations has been a massive new factor in the broader market, where institutions are increasingly warming up to BTC as a valuable asset.
BlackRock acquired $36.7 million worth of BTC, while MicroStrategy added 3,459 BTC worth $286 million, raising its total holdings to over 530,000 BTC.
These purchases signal that large firms remain committed, despite market volatility. Their long-term outlook reinforces market stability and potentially supports upward price momentum.
Key Resistance Becomes Target For Bitcoin’s Bullish Momentum
In the above Bitcoin price action chart, we can see that Bitcoin has formed a Falling Wedge pattern, which generally marks the end of downtrends and the start of an uptrend. The lower highs and higher lows on this pattern mean that Bitcoin could be going for an upward breakout. A large price movement is also possible if Bitcoin breaks above the upper trendline of the wedge. Analysts predict Bitcoin to reach $90,000 or $95,000 if the bullish momentum continues.
Currently, the RSI is 53.99, which puts it in neutral territory. Accordingly, this suggests that Bitcoin is not overbought, implying that the price could continue upward. The MACD line is above the signal line, reflecting a positive market.
The CVD is shifting to buying pressure, with green bars showing additional buying volume. This rising buying activity further supports the bullish move.
Crypto analyst CryptoMichNL warned of potential fakeouts, but noted BTC is approaching a key resistance level near $87K. A breakout above that could pave the way toward new all-time highs.
Disclaimer
This article is for informational purposes only. Crypto investment involves inherent risks due to the volatility in price. Readers should conduct their research before making any investment decision. Also, you can consult a crypto expert before investing in cryptocurrencies.
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