Bitcoin Whales Signal Confidence Amid Market Uncertainty
Despite recent price volatility and macroeconomic concerns, Bitcoin whales are demonstrating strong confidence by continuing to accumulate BTC. Analysts interpret this as a sign of a mid-cycle correction rather than a market reversal, suggesting that Bitcoin’s bull run remains intact. Below is a detailed analysis of the current market dynamics and what it could mean for investors.
Bitcoin Whales Accumulate as Fear Grips Retail Investors
Bitcoin whales continue to accumulate, showing confidence despite price dips and macro uncertainty. No whale exits are seen as in past crashes, signaling this pullback may be a mid-cycle correction. Analysts believe this signals a mid-cycle correction, not a reversal, as Bitcoin’s bull phase remains intact. CryptoQuant revealed that these whales are back to accumulating BTC, excluding exchanges and mining pools, representing true investors in Bitcoin. The wallets are not distributing the assets, supporting the notion that BTC is still in an active bull phase.
Tech Tariffs Cut Triggers Crypto Rally, Bitcoin Soars Beyond $85K
On April 12, Donald Trump surprised the markets by lifting tariffs on strategic technological products, including smartphones and electronic chips. This decision, amid ongoing rivalry with China, instantly propelled Bitcoin beyond $85,000. Far from a mere trade adjustment, this move reshapes industrial balances and sends a strong message: American economic policy is now aligned with the interests of digital actors and the crypto sector. The exemption specifically concerns strategic components that the US needs to remain competitive in the global market.
Luxor’s Aaron Foster on Bitcoin Mining’s Growing Sophistication
Luxor Technology, aiming to make Bitcoin mining easier, has rolled out various products such as mining pools, hashrate derivatives, data analytics, and ASIC brokerage to assist both large and small bitcoin miners in developing their operations. Aaron Forster, the company’s director of business development, joined in October 2021 and has witnessed the team’s growth from 15 to 85 people in three and a half years. Forster, who has a decade of experience in the Canadian energy sector, will speak about the future of mining in Canada and the U.S. at the BTC & Mining Summit at Consensus this year.
BTC Weekly Candle Closes at $80K After Bounce
Bitcoin bounced from $74.4K and closed the week at $80,147 with a 2.24 percent gain. Chart signals from OBV and RSI show bullish divergence as sellers weaken and buyers gain. The level of $74.4K, which aligns with a former resistance zone, now acts as a significant technical support on the weekly chart. A recent chart shows BTC trading between $74,458 and $83,506. Weekly support zones from early 2024 are key levels for Bitcoin’s current price action.
BTC Price Analysis: Analyst Dan Gambardello Sees Potential Breakout
BTC price is showing signs of a bottoming formation with technical indicators suggesting a potential breakout to new all-time highs, according to crypto analyst Dan Gambardello. The analyst highlights patterns on Bitcoin’s weekly Relative Strength Index (RSI) that have historically preceded significant price movements. Gambardello bases his analysis on several key technical indicators, with particular emphasis on Bitcoin’s weekly RSI momentum oscillator. He identifies a potential breakout pattern forming that resembles a similar setup from July 2021, which preceded Bitcoin’s run to all-time highs.
