Bitcoin Nears $120,000 as Wyckoff Accumulation Enters Final Phase

Bitcoin is currently trading near its all-time high of $108,786, with analysts predicting a potential breakout to $120,000. According to crypto analyst Ted Pillows, Bitcoin has entered the final phase of the Wyckoff Accumulation pattern, a strong bullish indicator. The consolidation above $100,000 further suggests underlying market strength. Additionally, Tether's recent minting of $2 billion USDT signals incoming liquidity, which could provide the necessary momentum for Bitcoin to surpass the $120,000 mark. Market participants are closely monitoring these developments as Bitcoin continues its upward trajectory.

Bitcoin Poised For $120,000 Rally As Wyckoff Accumulation Hits Final Phase

Bitcoin trades near its all-time high of $108,786, with analysts signaling potential for a breakout. crypto analyst Ted Pillows notes BTC has entered the final phase of the Wyckoff Accumulation pattern, a bullish indicator. Consolidation above $100,000 suggests strength.

Tether's recent $2 billion USDT minting hints at incoming liquidity, which could propel bitcoin past $120,000. Market participants watch for sustained momentum as institutional interest grows.

Institutional Bitcoin ETF Allocations Decline in Q1 2025

Hedge funds and institutional investors scaled back their Bitcoin ETF exposures in the first quarter of 2025, signaling a potential shift in sentiment. BlackRock's IBIT saw a 15.6% reduction in average portfolio allocation, while Millennium Management LLC slashed its IBIT position by 41% and exited its BTCO holdings entirely.

The most dramatic MOVE came from the state of Wisconsin, which liquidated its entire $321 million position in IBIT. This retreat contrasts with selective additions to Ark 21Shares and Grayscale Mini products by some funds, suggesting a rebalancing rather than a full-scale exit from crypto markets.

Abu Dhabi’s Mubadala Deepens Crypto Commitment with $408M Bitcoin ETF Stake

Mubadala Investment Company, Abu Dhabi's $284 billion sovereign wealth fund, has significantly increased its exposure to cryptocurrency markets through BlackRock's spot Bitcoin ETF. A March SEC filing reveals the fund acquired an additional 491,439 shares of iShares Bitcoin Trust (IBIT), bringing its total holdings to 8.7 million shares valued at $408.5 million.

While the position shows a quarter-over-quarter decline from $436.9 million due to Bitcoin's price volatility, the strategic accumulation demonstrates growing institutional confidence in crypto assets. The move follows BlackRock's IBIT becoming the fastest-growing ETF in history, with $16.5 billion in assets under management within three months of launch.

Market analysts interpret Mubadala's continued accumulation as a bullish signal for institutional adoption. "Sovereign wealth funds moving beyond exploratory positions into meaningful allocations changes the game," said Mark Connors, research head at 3iQ Digital Assets. The fund maintains a diversified $302 billion portfolio across traditional and alternative assets.

Bitcoin Outshines All In 2025, Official Report From Russian Central Bank Says

Russia’s Central Bank has declared Bitcoin the standout performer of 2025, with returns nearing 40% over the past year. This eclipses traditional assets like gold, stocks, and bonds, signaling growing acceptance of cryptocurrencies in Moscow’s financial ecosystem.

Bitcoin’s cumulative return since 2022 has surged to 121%, dwarfing gold’s single-digit gains and corporate bond yields. The asset’s near-doubling in value over three years is reshaping investor expectations, challenging the slower returns of conventional banking and equity markets.

Despite its volatility, Bitcoin’s rally demonstrates its maturing role as a store of value. The central bank’s report underscores a pivotal shift: digital assets are no longer fringe instruments, but competitive alternatives in global finance.

Bitcoin Funding Rates Indicate Measured Optimism Amid Price Recovery

Bitcoin's derivatives market shows no signs of excessive speculation despite its recent price rebound. Current mean funding rates hover around 0.007%, suggesting disciplined positioning among traders.

Glassnode's weekly analysis reveals open interest initially expanded with BTC's upward move, but the tempered funding rates imply traders remain cautious. This equilibrium between growing interest and stable financing costs often precedes sustained bullish momentum.

Hacker of US SEC X Account Sentenced to 14 Months for False Bitcoin ETF Announcement

A 26-year-old Alabama man, Eric Council Jr., has been sentenced to 14 months in prison for hacking the US Securities and Exchange Commission's official X account. The January 2024 breach involved a SIM swap attack that allowed Council to falsely announce the approval of spot Bitcoin ETFs—a highly anticipated regulatory decision that briefly pushed BTC prices up by $1,000 before the fraud was uncovered.

Authorities confirmed Council conspired to commit aggravated identity theft through the scheme. The incident exposed vulnerabilities in social media security at financial regulators while demonstrating crypto markets' sensitivity to ETF-related news. Market participants noted the episode highlighted both the maturity of institutional interest in Bitcoin and the need for verified communication channels.