About 100 new Bitcoin whales have appeared since January 2025, coinciding with a rise in Bitcoin’s price, which surged by 28% from recent lows. The accumulation trend score is approaching 1, indicating strong buying confidence. With investor sentiments swinging from fear to greed, Bitcoin’s price action nears a critical resistance trendline, prompting traders to watch for potential breakouts or reversals.
An intriguing shift unfolds in the Bitcoin market, with about 100 new Bitcoin whales emerging since late January 2025. There’s a marked increase in strong holder conviction, as evidenced by Bitcoin’s accumulation trend score, which is nearing 1. This uptick in large holders comes at a time when BTC’s price is edging closer to a significant trendline after experiencing a robust 28% rally from a low point.
Recent data from Glassnode indicates that 99 new entities have sprouted up, each holding over 1,000 Bitcoin, with the number of these large holders climbing from approximately 1,650 to nearly 1,750. The rebound in Bitcoin’s price has been noteworthy, jumping from about $77,500 in early April to around $94,000 late in the month. This progression isn’t just coincidental; it’s suggestive of a correlation between the new whale activity and the soaring prices as they reinforce Bitcoin’s upward movement.
The rising whale numbers signal a bullish outlook for Bitcoin, particularly as they enter the market amid increasing all-time highs. This shows confidence lingering among investors, with many betting on further growth opportunities ahead. The accumulation score, an important metric, is climbing too, reflecting vigorous purchasing behaviour from existing holders and new market entrants. By April 25, it stood at 0.82—close to that coveted 1 mark.
Investor sentiment seems to mirror these developments, shifting towards greed after a brief period of fear. The Fear and Greed Index rose sharply, moving from fear at the beginning of April to greed by the end of the month. Such changes in sentiment often signify a critical juncture in buying behaviour; in simpler terms, it implies that more traders are inclined to buy even at the current elevated prices. Yet, this can also raise flags for upcoming corrections if the momentum fails to sustain itself.
From a technical perspective, Bitcoin’s price action is now dancing close to a critical zone. After rallying 28% from its last swing low—climbing from around $73,000 to just under $95,000—BTC is once again near a long-term trendline that tends to serve as a significant resistance point during bullish cycles. Chart analysts point to this area, suggesting it could either trigger a breakout or a setback. These trendlines, connecting major peaks from 2021 and late 2024, are key indicators to watch as BTC navigates this pivotal period.
Traders remain vigilant, monitoring if Bitcoin can decisively breach above this critical level, which could incite another price uptick. However, any rejection at this trendline might impede momentum, so the eyes of the market are fixated on how BTC will perform in the upcoming days.
