- Whale wallets now control over 67% of Bitcoin’s total circulating supply.
- Exchange inflow momentum is weak, suggesting cautious trader sentiment.
Bitcoin is holding steady near the $85,000 level, reflecting a period of consolidation and cautious market sentiment. BTC is priced at $85,391.13 at press time, marking a 0.97% gain in the last 24 hours. The price briefly touched $85,400 during this timeframe, showing upward momentum.
Source: Coinmarketcap
While this movement hints at market interest, traders remain watchful as they await clearer entry signals based on inflow data and broader economic indicators. Meanwhile, rising U.S. debt forecasts are prompting increased attention toward alternative assets like Bitcoin.
Exchange Inflows Signal a Wait-and-See Approach
According to crypto analyst Ali Martinez, Bitcoin’s exchange inflow volume shows weak momentum. He noted that monitoring this metric helps traders pinpoint optimal entry points. The data implies traders should remain patient as the market seeks direction.
Exchange inflow volume reflects how much BTC is moving into exchanges. High inflows often suggest increased buying activity or investor confidence. Conversely, low inflow periods hint at caution or indecision. Over the past few months, inflow volume has fluctuated alongside Bitcoin’s price, indicating a reactive rather than proactive market.
While Bitcoin touched $85,400 in the last 24 hours, momentum lacks the strength seen in prior bull runs. Martinez emphasized that inflow signals suggest holding back despite price fluctuations for now.
Whales and Sharks Expand Control Over BTC Supply
Recent data from Santiment shows wallets holding 10 to 10,000 BTC have steadily increased their holdings since March 22. These wallets now hold 67.77% of the total supply. In the past four weeks alone, over 53,600 BTC have been added.
Source: Santiment
This accumulation brings their collective holdings to an all-time high of 13.45 million BTC. Analysts note that such accumulation during price consolidation reflects confidence in Bitcoin’s long-term value. These wallet groups, often termed “whales” and “sharks,” are known to influence market direction due to their large supply share.
Bitcoin Faces Resistance in Descending Channel
Bitcoin’s price consolidates below a key resistance level of nearly $85,000. Chart analysis shows the asset moving within a descending channel, with recent attempts to break above resistance remaining unsuccessful. Volume continues to decline, a pattern often seen before major price moves.
Source: TradingView
Analysts warn that a clear breakout above the resistance, especially with rising volume, could trigger a bullish reversal. This could push Bitcoin to new local highs. Conversely, a rejection could send prices back toward support near $80,000.
At this stage, the market remains undecided. Traders and institutions alike are watching for a clear breakout or breakdown. Until then, volume patterns and inflow metrics drive sentiment, with caution being the prevailing strategy.
Source: Fiscal data
Meanwhile, broader macroeconomic signals add further context. Binance Research reported that U.S. Treasury auctions are expected to top $31 trillion in 2025. This amount exceeds 109% of the country’s GDP and 144% of the M2 money supply. Analysts say such fiscal pressure may accelerate the shift to assets like Bitcoin as stores of value.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
