Bitcoin whale activity has stirred significant interest, with over 48,000 BTC valued at $4.5 billion pulled from exchanges in the past week, according to crypto analyst Ali Martinez. Sharing insights on X, Martinez highlighted that this massive outflow could indicate growing demand, especially from institutional investors.
Expert Analysis as Bitcoin Whale Activity Surges
“The Coinbase Premium Index recently hit -0.23%, a two-year low, but it’s now rebounding quickly,” Martinez observed, noting its significance. “This signals growing institutional demand for Bitcoin BTC from US-based investors!”
Bitcoin price remains at a critical juncture as traders closely monitor technical levels. Martinez noted that the cryptocurrency might be retesting its 50-day moving average (MA), which could determine the next directional move. “A sustained close above the 50-day MA is essential to signal the end of the correction and confirm bullish momentum,” he explained.
Meanwhile, activity on Binance suggests increasing profit-taking among traders. The percentage of traders holding long positions has dropped sharply, from 66.33% to 56.85% within 24 hours. This shift hints at caution among retail participants despite the apparent whale accumulation.
Market analysts are now debating whether Bitcoin’s recent dip represents a short-term correction or a precursor to a broader decline. A decisive close above key resistance levels could restore bullish sentiment, but failure to reclaim the 50-day MA might extend the ongoing correction.
While whales and institutions appear optimistic, retail traders remain cautious, setting the stage for a pivotal period in Bitcoin’s price action. With institutional interest growing, as reflected in the rebounding Coinbase Premium Index, all eyes are on Bitcoin’s ability to maintain upward momentum in the coming weeks.
