Bitcoin maintained relative price stability over the past week, trading between $83,000 and $87,500 despite significant whale activity influencing market dynamics. The cryptocurrency’s resilience comes as large holders demonstrate conflicting behaviors — some accumulating positions while others engage in strategic profit-taking or market manipulation.
On-chain data revealed whales added 60,000 BTC ($5.02 billion) to their holdings in early March, with total whale balances climbing from 1.8 million BTC to 1.862 million BTC since March 1 — a 3.44% increase. This accumulation pattern coincided with Bitcoin’s price rising from $58,000 to $61,000 during the same period. Analysts observed that whale addresses holding 10-10,000 BTC added 2,997 BTC since January, signaling renewed confidence among institutional and high-net-worth investors.
However, not all whale activity proved bullish. A major trader known as “Spoofy the Whale” reportedly manipulated order books on Binance using spoofing tactics, creating artificial resistance near $89,000. The entity placed large sell orders to suppress upward momentum, keeping Bitcoin capped below $87,500 despite multiple breakout attempts. Concurrently, the Bitcoin Exchange Whale Ratio — measuring whale-dominated inflows — reached its highest level since 2024, historically correlating with short-term price corrections.
Technical indicators reflected this tug-of-war. The daily Relative Strength Index (RSI) held at 68, suggesting strong momentum without overbought conditions, while the Moving Average Convergence Divergence (MACD) maintained a bullish crossover. Trading volume surged across major exchanges, with Binance’s BTC/USD pair climbing 14.29% and Coinbase’s BTC/EUR pair rising 22.22% since March 1.
Market participants now watch key support levels between $84,000-$85,000 that could determine near-term price direction. Analysts note whale accumulation typically precedes medium-term rallies but caution investors to monitor exchange inflow patterns that might signal impending sell pressure. As whales control nearly 40% of Bitcoin’s circulating supply, their conflicting strategies continue producing heightened volatility within an otherwise steady price range.
Sources:
https://blockchain.news/flashnews/bitcoin-whale-accumulation-shows-signs-of-reversal-in-march
https://evrimagaci.org/tpg/bitcoin-price-capped-at-87500-amid-whales-manipulation-282893
https://www.bitget.com/news/detail/12560604496186
Bitcoin faces pressure from potential whale selling and weak investor sentiment
https://ainvest.com/news/bitcoin-whales-accumulate-60-000-btc-signaling-potential-rally-2025-2503/
