Bitcoin’s (BTC) recent performance has sparked optimism among traders, with long-term holders aggressively accumulating in anticipation of the next wave of inflows. Despite warnings from skeptics, the broader market remains resilient, bolstered by growing institutional interest.
BTC Whales Eye Fresh All-Time Highs
Following Bitcoin’s rebound above $90K, traders are ramping up efforts to reclaim past highs. The asset previously surged to an all-time peak above $108K before plunging to $78K, driven by unfavorable macroeconomic sentiment and concerns tied to U.S. trade policies. Although those concerns persist, strong buying pressure continues to fuel upward momentum.
On-chain data reveals that crypto whales have accumulated more than 43,100 BTC—valued around $4 billion—since Bitcoin’s recovery began. The first significant purchases were noted on April 13, sparking a surge in short-term inflows. While most of the holdings belong to long-term investors, a considerable wave of short-term participants also entered the market.
This combined activity fueled bullish momentum, pushing Bitcoin through several resistance levels. Although profit-taking increased, it was quickly overshadowed by continued whale accumulation. The decline in centralized exchange reserves suggests long-term confidence remains strong, even amid brief volatility from profit-taking.
Several traders identify $97,530 as the next major resistance level—a psychological barrier that could trigger a fresh price surge. At the same time, Bitcoin’s realized capitalization has reached a record high, sparking renewed excitement among holders. Unlike market capitalization, this metric assesses Bitcoin’s value based on the price at which each coin was last transacted.
This metric offers a clearer picture of the actual “invested value” in Bitcoin by filtering out distortions caused by lost coins or those held long-term without activity. It serves as a more reliable and steady indicator of market sentiment and the collective behavior of investors.
Arthur Hayes Issues Bullish Forecast
Crypto executive Arthur Hayes has fueled bullish sentiment with an optimistic market outlook. The former BitMEX CEO projected that Bitcoin could soar to $1.5 million by 2028, citing rising U.S. macroeconomic trends. He suggested that an increase in U.S. dollar liquidity might drive greater investment into digital assets.
Additionally, several institutions have released ambitious Bitcoin price forecasts, pointing to global financial pressures and growing interest from traditional finance. A favorable stance from the White House is also expected to be a major driver of international crypto adoption in the years ahead.
