Bitcoin (BTC) Price Prediction: Increase in Bitcoin Whale Activity as Trump Administration Considers…
Bitcoin whales are once again on the move as optimism mounts among institutions. The Trump administration’s reported interest in formulating a crypto reserve strategy, particularly centered around Bitcoin, has further fueled speculation of an impending breakout in the cryptocurrency market.
Presently, Bitcoin’s price hovers around $118,300, showing a slight increase of 0.35% over the past 24 hours. Despite the relatively stable price range between $116,000 and $120,000 for the past 16 days, key indicators suggest underlying dynamics that could lead to a significant price surge. These indicators include a notable increase in whale accumulation and pivotal policy shifts from the Trump administration.
Technical analysis of Bitcoin’s price movements indicates an emerging bullish momentum. The Relative Strength Index (RSI) trending upwards at 59 suggests an uptick in buyer interest without reaching overbought levels. Moreover, a recent breakout from a descending channel has Bitcoin currently retesting the breakout zone between $117,500 and $117,700. Experts interpret this as a possible launching point towards the critical resistance range of $120,000–$121,500. A daily closure above $120,000 could potentially trigger a rally towards the previous peak of $123,218.
Analyst AllyPipsExpert believes that the recent bullish reversal pattern signifies a relief from bearish pressures. A failure in the retest, however, could lead to a potential drop back towards $116,000, with a further decline possibly reaching levels near $114,000.
Amidst these price movements, the substantial accumulation of Bitcoin by wallets holding 10 to 10,000 BTC has added over 218,000 BTC since late March. This accumulation represents a nearly 1% increase in the total circulating supply of Bitcoin, indicating significant institutional confidence and long-term strategic positioning. In tandem with this, the Trump administration’s confirmation of a Strategic Bitcoin Reserve underscores the government’s remaining commitment to Bitcoin as a key asset. Although specific details of the reserve’s holdings remain undisclosed, estimates point towards the U.S. government holding approximately 198,000 BTC, valued at over $2.35 billion.
Additionally, recent updates in Bitcoin ETF news and regulatory developments have contributed to a positive sentiment in the market. The introduction of clearer guidelines regarding tokenized assets, stablecoins, and blockchain-related banking activities suggests a more structured and evolving approach to digital assets within the U.S. This trend marks a significant step towards regulatory clarity and institutional support in the cryptocurrency space.
