A massive “positive turnaround” according to Santiment
The cryptocurrency market is going through a decisive phase. After a slight correction, Bitcoin has bounced back to settle comfortably above the $71,000 mark. According to the on-chain analytics platform Santiment, this price level has triggered a spectacular buying wave from large wallets. Addresses holding between 10 and 10,000 BTC now control 68.17% of the total supply, up from 68.07% just a week ago.
For Santiment experts, this dynamic represents a genuine “positive turnaround.” While the general sentiment could have shifted toward a bearish trend following recent profit-taking, whales took advantage of the dip to strengthen their positions. This wealth transfer from retail investors to institutional players is often the prelude to a major bullish movement.
However, caution remains advised. Analysts are closely monitoring the behavior of retail investors. Historically, a true market bottom is confirmed when the “crowd” capitulates and sells off its assets. If retail investors continue to buy, it could delay Bitcoin’s next breakout.
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ETFs and geopolitics propel the bull run
The whales’ appetite does not come out of nowhere. The macroeconomic and financial context is acting as a catalyst for the king of cryptos. US spot Bitcoin ETFs have just recorded an exceptional week, attracting over $867 million in inflows. Giants like BlackRock and Fidelity continue to vacuum up the available supply, creating an unprecedented liquidity shock in the market.
At the same time, current geopolitical tensions are reinforcing the narrative of Bitcoin as a safe haven. In the face of global uncertainties, BTC acts as a 24/7 open liquidity pool, absorbing shocks much more effectively than traditional markets. This resilience inevitably attracts institutional capital seeking protection and yield.
On the technical side, Bitcoin is facing a critical resistance zone located between $73,000 and $74,000. A clean break of this glass ceiling could invalidate the latest bearish scenarios and propel the asset into a new phase of price discovery. The highly anticipated rally seems to be brewing behind the scenes.
Will Bitcoin (BTC) smash its ATH this week?
With whales accumulating at a frantic pace and ETFs running at full throttle, all lights seem green for Bitcoin. Indeed, a 1-day order block has appeared on the daily chart.
Furthermore, the short term holder MVRV chart indicates potential targets at $84,000 and even up to $112,000 if the Bitcoin bottom has indeed been found. Historically, when the Bitcoin price reaches the lower end of the channel, it represents a local bottom.
However, the crypto market remains unpredictable. A sudden capitulation by retail investors or bad macroeconomic news could trigger a final retracement before the real explosion. The coming days will be crucial in confirming the strength of this trend.
As institutional players position themselves strategically, one question is on every trader’s lips: is Bitcoin about to deliver the most explosive bull run in its history, or is this a trap set by the whales?
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