Bitcoin prices continue to hold steady between $78,500 and $84,000 despite heightened whale activity and market uncertainty. Analysts note the cryptocurrency has remained range-bound for weeks, with traders struggling to push it beyond key resistance levels. The stagnation comes even as large investors show conflicting signals—some accumulating assets while others execute high-risk leveraged positions.
One dormant whale moved over $250 million in Bitcoin on March 23 after an eight-year hiatus, reigniting debates about institutional confidence. The wallet, inactive since December 2016, saw its holdings surge in value from $3 million to a quarter-billion dollars. Meanwhile, another whale faces potential liquidation on a $380 million leveraged short position if Bitcoin climbs past $86,593. Market observers speculate coordinated efforts to trigger this liquidation, with traders actively pushing prices upward to force the whale out.
Economic factors compound the volatility. Former President Donald Trump’s proposed trade policies and geopolitical tensions have dampened risk appetite, leaving Bitcoin caught in wider market hesitancy. On-chain data reveals dwindling transaction volumes among whales since late 2022, though analysts detect strategic accumulation by long-term holders. Over 172,000 BTC entered new investor wallets since late February’s price dip, suggesting retail participants view current levels as buying opportunities.
Experts caution that the market’s fragility stems from conflicting signals. While whale wallets holding 1,000+ BTC remain stable, exchange deposit volumes from these large addresses have doubled since early 2023 compared to modest withdrawal growth. This deposit-withdrawal disparity hints at cautious profit-taking by some whales even as others double down. Liquidity providers now amplify pressure on leveraged positions, potentially exacerbating volatility. Traders await a decisive break above $84,800 to confirm bullish momentum, but macroeconomic headwinds and regulatory uncertainties loom large.
Sources:
https://www.ainvest.com/news/bitcoin-price-stagnates-volume-whale-activity-rises-2503/
https://www.ainvest.com/news/bitcoin-whale-moves-250m-8-year-hiatus-2503/
https://cointelegraph.com/news/why-is-bitcoin-price-stuck
https://coinstats.app/news/d932ee666c9d36f42b02f20254d214adb95f8dc48c02197b7dfd2d4a9939f3a6_Bitcoin-Whales-Massive-Short-Faces-Trouble-as-BTC-Liquidity-Soars/
https://insights.glassnode.com/content/the-ultimate-guide-to-bitcoin-whales-2/
