The post Investors Gain Confidence as Bitcoin Accumulation Soars- What is the Bitcoin Prediction for This Week and This Month? appeared first on Coinpedia Fintech News
The stock markets across the globe and the crypto markets faced massive bearish actions soon after President Trump rolled out tariffs on various nations. Meanwhile, he further halted the tariff for 90 days, reviving the bullish possibilities. The Bitcoin (BTC) price fought with the bearish pressure finely and revoked a strong ascending trend beyond $80,000. With this move, the sharks and whales, along with the investors, have become bullish on Bitcoin as they have begun to accumulate.
The investors had turned bearish with the price plunging below $80,000 for the second consecutive time. However, the quick recovery back beyond the range seems to have revived the lost confidence. As a result, the whales and sharks have yet again started to accumulate, hinting towards a sudden shift in the sentiments and market dynamics.
The data from Santiment suggests that the number of BTC sharks holding over 10 BTC witnessed a sudden surge as more than 132 wallets were added in the past 24 hours. This suggests a massive rise in confidence and sentiments, fluttering bullish flags over the BTC price rally. On the other hand, yet another accumulation surfaced, which suggests the whales are also heavily bullish on Bitcoin.
The data from CryptoQuant suggests a huge movement of BTC worth around $3.6 billion, which is 48,575 BTC that have flown into the accumulation address. Such a massive whale movement that occurred for the first time since 2022 does signal growing market confidence. Now the question occurs whether the BTC price is preparing for a huge move.
Bitcoin (BTC) Price Prediction for This Week
Bitcoin has snapped sharply after dipping to $74,500 and is currently trading above $81,000. The bounce showed a renewed strength from the buyers, aiming for higher levels. If the momentum holds, bulls are expected to push towards the key resistance at $82,500 and possibly break through the upper resistance. However, the long-term price action remains uncertain, with a higher possibility of a rebound.
The weekly price action suggests the price is approaching a decisive phase, which could trigger a potential pullback. The Ichimoku cloud is approaching a bearish crossover, while the RSI, which has dropped below the average, is trying to validate a bullish divergence. Hence, a bullish close for the week above $81,500 seems to be extremely important to squash the bearish possibility.
Therefore, the Bitcoin (BTC) price prediction for today, this week and this month remains bullish until the levels sustain above $81,500.