Bitcoin enters Q2 2025 with bullish momentum as large holders intensify their buying activities, creating a foundation for price increases.
Whale Accumulation of Bitcoin
According to Glassnode, large holders of bitcoin ('whales') are actively accumulating BTC, increasing their share of yearly issuance by over 300%. At the same time, exchanges are rapidly losing coins, indicating a declining supply in the market.
Technical Signals for BTC Growth
The recent breakout from a descending wedge pattern has reignited hopes among traders. The projected resistance level is between $101,570 and $105,000. However, to gain more confidence, the price needs to surpass the $88,804 mark.
Impact of Macroeconomic Factors
The recent Philadelphia Federal Reserve Manufacturing Index reported a sharp decline, adding further challenges to the economy. Nevertheless, bitcoin shows resilience amid instability in traditional markets.
The current situation in the bitcoin market is characterized by increasing activity from large holders and technical signals indicating potential price growth. However, without retail investor participation and with high resistance levels, the continuation of the rally remains uncertain.
