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Bitcoin’s price has experienced substantial fluctuations, limiting its performance since it achieved its highest recorded value in January. Despite the challenges, Large-scale investors known as "whales" continue buying Bitcoin assets as market unpredictability motivates them to expand their holdings.
According to Santiment, a leading on-chain data platform, Bitcoin whales have maintained a steady accumulation trend, even as the price of the cryptocurrency fluctuates. Particularly, those wallets with between 1,000 and 10,000 BTC saw significant growth, the highest levels since December 2024. The number of such wallets has increased by 2.6 percent over the last few weeks, which is significantly more than a normal rise in whale activity.
While Bitcoin has ranged between $81,000 and $84,000, these large investors are continuing to build up their Bitcoin positions. Their activity suggests that they’re gearing up for a market rebound, viewing the current downturn as a chance to make a purchase at a relatively lower price. Historically whale accumulation has been linked to price surges which could indicate that these investors expect Bitcoin’s price to recover in the near future.
Bitcoin’s price has been under pressure recently dipping below key support levels. However, some market analysts believe the cryptocurrency is nearing the end of its correction phase. Crypto analyst Captain Faibik has predicted that Bitcoin could experience a rally potentially reaching its all-time high of $109,000 by the end of April.
According to Faibik, Bitcoin displays a falling wedge, which could begin a breakout and signal that the asset is preparing for its next major move. As whales continue to buy in on Bitcoin, that may serve as the supporting factor that could lead to a price recovery. With new economic events possibly affecting the performance of Bitcoin, the market will be closely watching the upcoming weeks for any such signs of shift in the momentum as they occur until April.
The continuous price volatility demonstrates optimism among key investors as whale cryptocurrency holders continue to purchase the digital currency. Although the market remains uncertain for the time being, some of these investors are evidently still confident in Bitcoin’s long-term outcomes and view the asset as a potential rebound opportunity in the coming months.
