According to CryptoQuant data, major Bitcoin (BTC USD) holders or whales (wallets with over 1,000 BTC) have resumed accumulation.
The whale supply has dropped from 5.59 million BTC to 5.30 million BTC over the past five months, which means a reduction of around 290,000 BTC.
This implies that whales were distributing their holdings and perhaps taking profit during the 2024 rally.
But the data has changed recently. The 30-day whale position change metric has flipped to positive territory, which means accumulation is back on.
The whale supply has started to increase as of March 2025 and it is now rising from the recent low of 5.30 million Bitcoin (BTC USD)
This upward movement is shown by the blue-shaded area in the chart, and it clearly bounces after a long decline.
This reversal could be related to expectations of liquidity conditions and broader macroeconomic shifts.
In the past 30 days, the cumulative whale position change became positive, indicating that large investors are gradually becoming more interested in holding BTC.
In addition, whales tend to withdraw coins from exchanges, which can alleviate sell side pressure.
Liquidation Data Shows Key Bitcoin (BTC USD) Price Levels Around $83K and $89K
Meanwhile, Alphractal’s aggregated liquidation levels heatmap shows concentrated liquidation zones near $83,000 and $89,000.
These are the zones where large volumes of leveraged positions could be triggered in case of a sharp price move.
Over the past three days, the heatmap also shows a near balance between long and short positions. Nevertheless, long positions still slightly dominate when looking at the past week.
Bitcoin (BTC USD) price action during this period has been contained within a tight range, but both the long and short side of the market are at risk.
Many short positions could be liquidated if BTC rises toward $89,000. Long positions may be at risk if it falls toward or below $83,000.
On the right side of the chart, the liquidation map shows that liquidity is heavier above the current price.
Such activity could cause upward price movements as market makers and traders try to trigger stop losses or liquidations, which may add to volatility.
Institutional Activity and Market Sentiment Support the Bullish Structure
Moreover, institutional involvement continues to grow. More demand from corporate buyers comes from French firm The Blockchain Group, which recently bought 580 Bitcoin (BTC USD) for €47.3 million.
This purchase may not move the market on its own, but it is part of a larger trend of institutional interest across 2024 and into 2025.
Furthermore, analysts’ commentary indicates that macroeconomic conditions could keep liquidity on the go.
“The Fed can still print,” Kyle Chassé shared on social media, indicating that monetary policy could remain loose.
Moreover, Arthur Hayes cited that April could be a turning point for market momentum, regardless of policy shifts such as new tariffs.
Retail Market Dynamics and Consumer Trends
Conversely, Cooling inflation in consumer goods is indicatedby a sharp drop in U.S. egg prices, which have fallen from over $8 to under $3 per dozen.
This is not directly related to Bitcoin, but it can impact sentiment around purchasing power and interest in alternative assets such as BTC.
As liquidity is moving away from traditional commodities and consumer goods, more capital may go towards digital assets.
Crypto Rand hinted in a post on X, saying; “The eggs bull market is over…” Liquidity flowing towards Bitcoin.”
Markets may remain risk on if consumer inflation slows further and central banks stay in easing mode.
This could be an environment that supports Bitcoin’s current trajectory as institutional and whale activity builds.
The post 5-Month Bitcoin (BTC USD) Supply Decline Reverses, Whales Not Selling? appeared first on The Coin Republic.
The Coin Republic – Read More