The recent introduction of tariffs by President Trump caused a stir in both the stock and crypto markets, leading to a bearish trend. However, the markets received a breath of fresh air when President Trump decided to halt the tariffs for 90 days, sparking optimism among investors. Bitcoin, in particular, managed to withstand the downward pressure and surged past the $80,000 mark, signaling a resurgence of bullish sentiment among sharks, whales, and investors.
Initially, the drop in Bitcoin price below $80,000 had dampened investor confidence. Yet, the swift recovery above this crucial level rejuvenated optimism in the market. Consequently, both sharks and whales have resumed accumulating Bitcoin, indicating a shift in market dynamics and sentiments.
According to data from Santiment, there has been a significant increase in the number of BTC sharks holding more than 10 BTC, with over 132 new wallets added in the past 24 hours. This surge in confidence has raised bullish flags for the BTC price rally. Additionally, whales have also been actively accumulating Bitcoin, further solidifying the bullish outlook for the cryptocurrency.
CryptoQuant data reveals a substantial movement of BTC worth $3.6 billion, equivalent to 48,575 BTC, flowing into accumulation addresses. This massive whale movement, a first since 2022, reflects a growing confidence in the market. The question now arises whether this movement indicates that Bitcoin is gearing up for a significant price surge.
Looking ahead, Bitcoin has rebounded from a low of $74,500 and is currently trading above $81,000. The renewed strength from buyers suggests a push towards key resistance levels, potentially breaking through upper resistance levels. While the long-term price action remains uncertain, a rebound seems more likely.
The weekly price action indicates that Bitcoin is approaching a critical juncture that could trigger a potential pullback. The Ichimoku cloud is nearing a bearish crossover, while the RSI is attempting to confirm a bullish divergence after dipping below the average. Therefore, a bullish close above $81,500 for the week is crucial to dispel any bearish possibilities.
In conclusion, the Bitcoin price prediction for today, this week, and this month remains bullish as long as the price sustains above $81,500. Investors are closely monitoring market movements to capitalize on potential opportunities in the ever-evolving crypto landscape.