- Bitcoin surged to $82,000 following Trump’s tariff pause, coinciding with the largest whale accumulation in the last three years.
- Accumulation wallets added 48,575 BTC billion to their coffers; analysts believe this move is a bullish signal.
- Experts predict Bitcoin could gain further once rate cuts and clearer crypto regulations are implemented.
Bitcoin (BTC) saw a massive spike in transactions on Wednesday, marking the largest one-day inflow into accumulation addresses since February 2022. This surge in accumulation activity occurred on the same day that Bitcoin’s price spiked after President Trump announced a temporary tariff halt.
Bitcoin Hits $82K Amid Surge in Whale Accumulation
On April 9, Trump announced a temporary U-turn on tariff impositions against trade partners. In response, Bitcoin surged to $82,000 after languishing below $75,000 in the previous days. During that period, accumulation wallets received 48,575 BTC, as spotted by CryptoQuant. This aggressive stocking, totaling $3.6 million, is the highest in the past three years. Such moves generally suggest that large buyers have stepped in at this level.
An identical event involving $3.6 billion worth of Bitcoin occurred on February 1, 2022. At that time, one BTC was valued at $38,400. Both trends happened during a significant shift in the financial market. IntoTheBlock also spotted a similar trend among large wallets. In the past three months, BTC wallets have witnessed a 20,906.63% spike in inflows, indicating an extended accumulation period.
Over the last week, the number of inflows into BTC wallets stood positively at 1514.51%. In comparison, it dropped by 66.45% in the past thirty days. However, this slip is typically seen as a short-term pause preceding a rebound, as indicated in its week-to-date rally.
Market commentators explain that this trend signals a strategic move by large holders. Historically, these wallets usually jump in when price levels are down. Hence, this recent spike in large holdings hints at renewed confidence by key stakeholders.
Hoskinson and Hougan Forecast Bitcoin Surge Amid Global Shifts
During a podcast earlier this week, Cardano CEO Charles Hoskinson adopted a bullish stance on Bitcoin. He also forecasted that BTC could surge to $250k by the end of “this year or next.” Hoskinson based his predictions on factors like regulatory clarity, increased mainstream adoption, and interest by more market players.
He added that the relaxed regional tensions and anticipated interest rate cuts could propel Bitcoin’s price. Hoskinson anticipates a market consolidation in the medium term, followed by a strong rebound that could drive BTC to extraordinary prices. Bitwise Chief Investment Officer Matt Hougan is also bullish on Bitcoin, predicting that it will “return to new all-time highs and beyond” once the market regains its footing. He also explained that nations are losing interest in US assets, and Bitcoin could replace the USD as a result.
At the time of writing, Bitcoin trades at $81,890 after a modest climb in the past day. It has increased by 15% in the last year and has witnessed 15 green trading days in the past month.
