Bitcoin Whales Gobble Up Supply as ETF Investors Flee—Is a Mega Rally Brewing?
While Wall Street’s Bitcoin ETF cash grabs dominate headlines, deep-pocketed players are quietly stacking sats at a staggering pace. On-chain data reveals accumulation patterns not seen since the 2023 bear market bottom.
Key movements:
- Addresses holding 1,000+ BTC added 52,000 coins last month alone
- ETF outflows hit $1.2B in April as institutions panic-sold the dip
- Miners’ wallets show lowest balances since 2020 halving
This divergence mirrors 2020’s pre-bull market accumulation—back when ’serious investors’ still called crypto a scam while quietly building positions. The market’s memory remains shorter than a hedge fund’s moral compass.
With the halving dust settled and leverage flushed out, the stage looks set for volatile upside. Whether this becomes 2021 redux or something stranger depends on who blinks first: the diamond-handed whales or the ETF paperhands.
Btc price outlook
On the daily BTC price chart, the RSI is trending near 66, hinting at continued strength but also cautioning against potential exhaustion. Failure to hold $93,198 may expose BTC to deeper retracement toward $83,444, a historically strong support zone.
BTC price chart | Source: TradingView
The MACD is currently in bullish territory, with the MACD line crossing above the signal line. However, the histogram is beginning to flatten, signaling possible weakening momentum if price continues to consolidate without volume.
#Bitcoin $BTC is testing its Realized Warm Supply at $94,550, holding above it could signal mid-term holder support. pic.twitter.com/Q4zLRbQDXb
— Ali (@ali_charts) May 1, 2025
BTC is also holding above its Realized Warm Supply level of $94,550, suggesting support from mid-term holders. A sustained close above $95,870 could ignite a push toward $100,000 and beyond.
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