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Key Insights:
- Nearly 100 new Bitcoin whales have joined the network since late January 2025.
- Bitcoin’s accumulation trend score nears 1, signaling firm holder conviction.
- BTC price approaches a critical trendline after a +28% rally from recent lows.
Nearly 100 new whales join the network as Bitcoin’s market activity heats up. BTC has approached a key resistance level, driven by strong accumulation trends and growing investor confidence. Traders are closely monitoring the price action for a potential breakout.
New BTC Whales Accelerate Accumulation
According to recent Glassnode data, 99 new entities holding over 1,000 Bitcoin have joined the network since late January. The orange line that tracks these large holders has steadily risen from around 1,650 entities to about 1,750.
Bitcoin price rebounded strongly from $77,500 in early April. By late April, it had surged to approximately $94,000, reflecting significant market recovery.
New whale growth and price recovery strongly correlate, suggesting higher price levels accumulated. As more large holders enter the market, their buying activity reinforces Bitcoin’s upward trend.
This increased participation signals growing long-term confidence in Bitcoin’s future. As BTC trades close to all-time highs, these new entities are entering. This indicates that many investors still believe more growth is ahead.
BTC Accumulation Trend Score Signals Strong Demand
Meanwhile, Bitcoin’s accumulation trend score is also approaching peak levels as new whales rise. The trend score is nearing 1, signaling intense accumulation across the network. Analyst Ali notes that this surge reflects heightened buying activity by large holders.
By April 25, 2025, Bitcoin’s Accumulation Trend Score reached 0.82, reflecting vigorous buying activity. At the same time, Bitcoin price hovered around $94,735, signaling continued market momentum.
The closer the trend score is to 1, the more BTC existing holders buy rather than sell, and new buyers are entering the market. Usually, this level of firming holder conviction is seen when major players accumulate ahead of major market moves.
With the rising whale numbers and an increasing accumulation score, many participants are setting up for a possible breakout.
Sentiment Shifts as Investors Turn Greedy
However, sentiment data from the past few weeks suggests investors are becoming greedy again. Glassnode data tracked by Ali Charts shows a sharp shift in sentiment.
Bitcoin Fear and Greed Index climbed from fear in early April to greed by late April, reflecting growing investor confidence.
As the Bitcoin price approached $77,000 in early April, market sentiment shifted dramatically. The Fear and Greed Index dropped into the “Fear” and “Extreme Fear” zones, reflecting heightened investor uncertainty.
The index has returned to the ‘Greed’ zone as BTC rebounds towards $95,000. The shift in sentiment usually implies a sharp change in investor behaviour.
If investors are greedy, it usually means that more market participants are willing to buy at higher prices. However, it can also mean that corrections are more likely if momentum slows.
Bitcoin Approaches Critical Market Structure
Regarding technicals, Bitcoin price action is approaching a critical technical area. Bitcoin has just rallied +28% from its last swing low, rising from about $73,000 to just below $95,000.
BTC is nearing a key long-term trendline that historically acted as resistance in previous bull cycles. The chart from Titan of Crypto highlights this crucial level, suggesting a possible breakout or reversal ahead. This connects major tops from earlier in 2021 and late 2024.
This resistance trendline is now the current price level at which Bitcoin is trading. A new leg higher could be opened if Bitcoin price breaks and closes above this key trendline on the weekly chart.
Bitcoin has shown strength recently, but a rejection at the trendline could slow momentum in the short term. This is why traders and investors watch this level to see if BTC can confirm a breakout.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
