- Bitcoin sees high whale activity with 91,900 BTC withdrawn in the last 30 days amid market volatility.
- Despite a 10% price drop, large Bitcoin withdrawals suggest growing long-term confidence and potential bullish momentum.
- Experts view institutional investors’ increase in BTC holdings as a hedge against inflation or a long-term bullish outlook.
The financial market is experiencing a massive decline and high volatility driven by the recent regulatory developments in the US. This outlook has triggered extreme fear and uncertainty in the crypto market. Yet, crypto expert Ali Martinez has highlighted an interesting trend: Bitcoin has witnessed high accumulation levels in the past month, hinting at increased whale interest amid the ongoing financial market downtrend.
Bitcoin Withdrawals and Price Trends Signal Potential Bullish Momentum
In a recent X post, Ali noted that 91,900 Bitcoin have been moved from exchanges in the past 30 days. In that period, the total balance of Bitcoin on exchanges dropped from 2,729,460 to 2,637,558. At the same time, BTC’s price rose from $80,795 to $83,863 which reflects a 3.8% increase. Recall that over 30,000 BTC was withdrawn from exchanges between March 23 and April 1.
Large exchange movements usually signify that holders are moving their assets to cold storage or wallets for long-term holding. This trend could indicate a growing confidence in the asset despite the current market outlook. Historically, this trend often precedes bullish runs as the reduced exchange supply could lead to scarcity and contribute to increased buy pressure.
Meanwhile, Market commentator Captain Faibik recently encouraged investors to acquire Bitcoin, saying, “BTC buying now is better than regretting it late.”
Despite the high accumulation over the past month, Bitcoin has lost almost 10% of its value in that period, driven by macroeconomic trends. In that timeframe, its market trading volume dropped from $64.84 billion to $21.31 billion. At the time of writing, BTC trades at $79,594 which is close to its cycle high of $76,794. Additionally, it is positioned below the 200-day SMA.
Source: CoinMarketCap
Panic Amid Tariff Impositions as Stock and Crypto Markets Plunge
President Trump’s recent tariff impositions struck panic into the financial market and triggered massive liquidations. As a result, several indexes and indicators are in the red zone. As per CNN data, the US stock market is submerged in extreme fear, with the score pegged at 4.
As expected, stock market indexes are down, with the NASDAQ Index dropping 5.82%. The S&P 500 and Dow Index have also declined by 5.97% and 5.82%, respectively. Furthermore, top US tech firms such as Tesla, NVIDIA, and Intel Corporation have witnessed price drops. The crypto market outlook is also bearish as indicated by the CoinMarketCap sentiment score which sits at 27/100.
Despite this volatility and market uncertainty, whale investors remain optimistic. Even though retail traders have adopted a cautious market stance, institutional investors are increasing their BTC holdings. Experts suggest this move could be a hedge against inflation or a strong conviction in Bitcoin’s future price appreciation.
