Bitcoin Approaches $90,000 as Whale Accumulation Grows, Tapping $88,000
Bitcoin is witnessing a recovery, peaking at $88,350 with strong whale accumulation. Data indicates numerous wallets holding significant BTC, reflecting renewed demand. Miners are retaining holdings without selling, while analysts are optimistic about a potential rise toward $90,000 amidst bullish market sentiment.
As the current month approaches its conclusion, the cryptocurrency market is displaying a notable recovery, with Bitcoin, the leading digital asset, achieving a temporary peak of $88,350. This bullish trend indicates increasing momentum, especially since Bitcoin was valued at $77,500 two weeks earlier amid widespread market losses. The resurgence can be attributed to an influx of buyers re-entering the market after previously hitting a local low.
Significantly, data from Santiment indicates a surge in the number of wallets containing between 100 to 10,000 BTC, suggesting increased whale accumulation that may signal revitalized demand and improving market sentiment. Additionally, Bitcoin miners have retained their holdings steadfastly, with no major selling activity recorded in the last 48 hours. Since February 26, 2025, the reserve of Bitcoin held by miners has dramatically increased from under $84,000 to $98,000 on March 26.
The positive accumulation trend among both whales and miners provides an optimistic outlook for Bitcoin traders and investors. Analysts predict a bullish transition, with many targeting $90,000 as a potential price milestone. The market identifies significant resistance levels at $89,500 and $90,000. A breakout beyond these spots could extend the upward momentum, potentially attracting further new buyers. Presently, Bitcoin is trading at $87,398, maintaining immediate support at $85,500, although a dip below the crucial support level of $83,800 may lead to further declines to $82,500.
In summary, Bitcoin is experiencing a positive price movement, climbing towards the $90,000 mark, bolstered by investor confidence and significant whale accumulation. With Bitcoin miners holding onto their reserves and no major selling activity detected, the market sentiment appears bullish. Traders and investors would benefit from observing critical resistance and support levels as the cryptocurrency continues to navigate this upward trend.
Original Source: www.tradingview.com
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