While Bitcoin whales quietly accumulate billions through over-the-counter deals, the leading cryptocurrency has found an unlikely comfort zone above $90,000. Recent data shows these deep-pocketed investors snatched up 28,000 BTC – worth a staggering $2.6 billion – through discreet OTC trading desks, far from the prying eyes of traditional exchanges.
The market’s been stuck in a weird dance between $93,000 and $106,000 for months now. Sure, there was that brief panic dip to $93,400 on February 18th, but $90,000 keeps showing up like that friend who won’t take a hint – it’s not going anywhere. Long-term holders have shown remarkable resilience by reducing their selling activity by 60%. The decentralized nature of Bitcoin ensures that no single authority can manipulate these market movements.
And while everyone’s waiting for Bitcoin to blast through $99,000, the market’s got other plans. BlackRock’s recent acquisition of 559,262 BTC demonstrates massive institutional confidence in the asset.
Sentiment’s pretty gloomy right now. The Bitcoin Advanced Sentiment Index is hanging around 31%, well below its usual 43% monthly average. But here’s the kicker – technical indicators suggest there’s plenty of room to run higher. Sometimes the market just needs to catch its breath before making its next big move.
Despite gloomy sentiment, Bitcoin’s technical signals hint at untapped upward potential while the market takes a breather.
These new whale players aren’t messing around. With an average buy-in price of $89,200, they’re basically saying “dump it lower, we dare you.”
Meanwhile, long-term holders are doing what they do best – absolutely nothing. Their weekly losses haven’t topped 500 BTC in the past year, and lately, they’ve been practically zero.
The broader market’s got its share of drama. Trump’s throwing around promises about Bitcoin strategic reserves, U.S.-China tensions are making things weird, and everyone’s freaking out about AI investments.
But on-chain data tells a different story – one where institutional money keeps flowing in through those quiet OTC deals.
The Federal Reserve‘s still playing its games with interest rates, and China’s AI shenanigans are spooking traditional markets.
But Bitcoin? It’s just sitting there, looking more and more like that “digital gold” everyone keeps talking about. Sometimes boring is beautiful.
