In recent months, there has been a notable increase in activity from major Bitcoin holders despite a decline in prices. Analysts emphasize the significance of global liquidity and its impact on the market.
Increase in Bitcoin Whale Activity
Crypto YouTuber Lark Davis noted on April 16 that large holders with balances from 1,000 to 10,000 BTC have been “buying like never before.” A chart from CryptoQuant indicates a steep increase in whale balances since February, accelerating into April. Conversely, BTC prices have been in correction since mid-January.
Global Liquidity at an All-Time High
On April 15, CryptoQuant's head of research, Julio Moreno, reported that the platform's "Bull Score Index" has been below 50 for 58 of the last 60 days, typically associated with negative market trends. However, larger corrections over 30% are commonplace during this market phase. Analyst 'Root' pointed out that global liquidity has reached a record, which closely correlates with Bitcoin prices. Investor Mike Alfred added that, despite the noise in the market, "it’s important that M2 is spiking."
Crypto Market Outlook
In the short term, crypto markets remain bearish, with a further 4% retreat in total market capitalization over the past 24 hours. Bitcoin fell from an intraday high of $86,000 to $83,270. Ethereum is also under pressure, falling below $1,600. Most altcoins show declines today.
The analysis of Bitcoin whale activity and the state of global liquidity highlights important aspects of the current market situation. Despite price corrections, large investors continue to engage in active purchasing, indicating potential future changes in the market.
