📈 $BTC Stages a Comeback
Since hitting $78,620 on March 10, Bitcoin (BTC) has been on a steady uptrend, recording a 1.2% gain this past week. On-chain data now signals a fresh wave of whale accumulation.
🐋 Whale Demand Surges
New Bitcoin whales—wallets holding at least 1,000 BTC—have accumulated over 200,000 BTC this month. Since November 2024, these whales have acquired more than 1 million BTC, reinforcing bullish confidence and signaling strong long-term expectations.
⏳ Holding Time Increases
BTC holders are keeping their coins longer, with a 12% increase in holding time over the past week. This reduces selling pressure, tightening supply and potentially driving BTC’s value higher.
📊 Bitcoin at a Crossroads
BTC’s Elder-Ray Index shows weakening bearish pressure. If this trend continues, Bitcoin could rebound toward $89,000. However, if selling pressure strengthens, BTC risks a drop to $77,000.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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