Bitcoin (BTC) has recently regained attention due to significant interest from institutional investors. Analyses suggest Bitcoin may soon aim for a new bullish wave.
Whale-Level Investors Accumulate Bitcoin
Wallets holding 10,000 BTC or more have seen an upward trend in their 'Accumulation Trend Score,' exceeding 0.5. Smaller investors seem to prefer selling during this process. The recent increase in BTC held by large wallets indicates potential upward movement despite short-term price fluctuations. With institutional investor influence, this trend could lead to a favorable supply-demand balance for Bitcoin.
Technical Signals and Social Support
Bitcoin's price recently broke out of a descending wedge formation, signaling potential upward momentum. Currently trading near $85,000, BTC is expected to test resistance levels at around $88,745 and $96,163. Additionally, strong statements in the media and public sphere support Bitcoin, such as U.S. Senator Cynthia Lummis's statement about Bitcoin's role in reducing national debt. High social sentiment strengthens confidence in Bitcoin among institutional players.
Rapid Decrease in Bitcoin Supply
Bitcoin's Stock-to-Flow (S2F) ratio currently stands at 907. Recent data shows a 42.86% decrease in this value. Decreasing supply can exert upward pressure on prices, especially with stable or increased demand. Considering whale purchases and institutional interest, the likelihood of BTC appreciating seems very strong moving forward.
With growing institutional investor interest and decreasing supply, Bitcoin may soon enter a new bullish phase, fostering optimism among long-term investors.
