Recently, the bitcoin market has shown distinct trends, such as the accumulation by whales and the rise of new investors. We'll examine how these factors might affect prices in 2025.
Whale Influence on the Market
Bitcoin has experienced a significant drop in trading volume, typical of a consolidation phase. However, 'whales' continue to accumulate assets. According to Glassnode, wallets holding over 1000 BTC increased from 2040 to 2079 and stabilized at 2077. Whale activity is crucial as they can significantly influence the price.
Role of New Investors
The February 2023 price plunge from $96,500 to $82,300 attracted many new investors, seizing the opportunity to buy the dip. Cryptoquant data suggest these investors accumulated around 172,705 BTC, highlighting the growing confidence in cryptocurrency among the broader audience.
Market Perspectives for 2025
Analyzing whale and new investor activity data suggests upcoming weekend movements could be significant for bitcoin. The large transfers between unknown wallets might signal a beginning move. It suggests that if bitcoin surpasses the $84,800 mark, it could close the quarter on a bullish note above $85,000.
The current changes in whale and new investor activity may point to imminent market movements, highlighting the importance of monitoring data for forecasting future trends. Expectations for 2025 remain high.
