Despite the economic instability and volatility in the cryptocurrency market, the intense buying activity from major investors indicates increased confidence in Bitcoin and the potential for the upward trend to continue.
According to Glassnode data, whales have acquired over 129,000 Bitcoin since March 11, worth a total of $11.2 billion, with an average price of $87,500 per Bitcoin. This represents the highest accumulation rate since August 2024. The company reported via platform X that this wave of accumulation reflects a notable increase in confidence among major investors in the largest cryptocurrency, despite recent volatility.
This significant accumulation comes after Bitcoin experienced a remarkable recovery from its lows of $78,000 two weeks ago, supported by cautious statements from the Federal Reserve, as well as optimism regarding the easing of tariffs that former President Donald Trump intends to impose on April 2.
Glassnode's analysis indicates that whales holding more than 10,000 Bitcoin have compensated for the ongoing selling by small investors, reflecting a difference in investment strategies between different categories of traders.
At the same time, Bitbo Charts data indicates a rise in the 'Bitcoin holding wave for over a year', reflecting a shift towards a long-term storage strategy, which may bolster the future upward trend of the currency.
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