Bitcoin’s recent upward movement to a new all-time high has captured the attention of the general crypto market as many investors show significant interest in the flagship asset. Although BTC has witnessed a slight pullback, this bullish sentiment could influence the asset’s price action, allowing it to regain its upside direction.
Large Bitcoin Investors’ Demand On The Rise
Large investors are making their presence known once again following Bitcoin’s remarkable growth to a new peak. This bullish sentiment is particularly cited among wallet addresses holding between 100 to 1,000 BTC, which has seen a notable increase in the last few days.
Recent data from leading market intelligence and on-chain platform Santiment reveals that these whale investors have reached a new all-time high of 15,777 wallet addresses. The rise suggests that high-net-worth investors and institutions might be capitalizing on current market conditions to accumulate Bitcoin.
A surge in large BTC investors reflects robust interest and confidence in the asset’s long-term prospects. Santiment considers whale accumulation one of the leading indicators to gauge BTC’s future price movements. Thus, the platform asserts that this increase in confidence among key stakeholders is another encouraging indication for a bullish 2025.
Santiment highlighted in another X post that Bitcoin whales have been making significant moves this week, coinciding with the inauguration of Donald Trump as the new US President and BTC reaching a new all-time high of $109,300. On-chain data highlights a notable uptick in large transactions, suggesting renewed confidence in BTC’s long-term potential.
By January 19, transactions exceeding $100,000 in value rose to about 19,371, marking its highest level in over 6 weeks. This spike in whale activity is believed to be a key element sustaining the current bullish trend as it often precedes major market moves.
According to Santiment, this trend was particularly observed in bull cycles over the last two years and the context of these increases seems to be bullish. In the meantime, monitoring the influence of this whale activity is key for investors anticipating another major rally for BTC.
An Extended Downward Trend Looming For BTC?
While these developments reflect bullish price movements for BTC, recent price action shows that the asset might be poised for an extended downtrend. IC News, an informative platform made the prediction, identifying a key indicator and chart pattern. Looking at Bitcoin’s performance in the 4-hour time frame, the platform noted that a Head and Shoulder pattern is unfolding.
Furthermore, the Relative Strength Index (RSI) indicator exhibits bearish divergence, indicating that the downward trend may persist in the near future. Should this scenario develop, the price range of $101,000 and $99,500 will be vital for BTC’s price trajectory in the short term.
