Bitcoin Whales Are Scooping Up as Short-Term Holders Are Dumping: Bitcoin Ready to Hit $90K?

Bitcoin has been on a rough ride lately, struggling to gain any real momentum. In the past month, Bitcoin lost a value of 22.3% and it stands currently at around $83,100. With the daily uncertainties and, thus, investor hesitation, bullish catalysts continue to be dampened. While the short term appears weak, it appears, on the margins, that large institutional buyers may be using this period of weakness in valuation to step in. Which might imply that the market may be reaching a turning point.

Bitcoin Whales Are Buying the Dip—A Familiar Pattern

Despite recent selling activity, the relevant on-chain metrics reveal that Bitcoin whales (holding 1k – 10k BTC) are quietly accumulating. This isn’t the first time we’ve seen this behavior. At the end of last year, whales were acting similarly, increasing their positions as the price declined, before BTC rallied in a significantly more bullish trend. When whales accumulate, it signals that, despite the prevailing market fear, these large players still believe in Bitcoin’s long-term value. If we experience something similar to the 2020 cycle, accumulation could help establish a settled bottom for the market, maintaining BTC market trends at levels below the current market price and avoiding a continued fall from these levels.

Short-Term Holders Are Feeling the Pain

While Bitcoin whales are accumulating, short-term holders are facing difficulties. Many short-term holders are selling their Bitcoin at a loss, with the Short-Term Holder Spent Output Profit Ratio (SOPR) metric remaining below 1.0 for the last two months. A staggering 46,000 BTC has also been transferred to exchanges at a loss, signaling panic selling. Historically, these periods of capitulation have marked key market bottoms, where weak hands exit and stronger hands enter. These opposing forces, whale accumulation and short-term holder capitulation, are shaping BTC market trends. The question now is, where does Bitcoin go from here? Let’s take a closer look at some key technical indicators.

Price Analysis and BTC Price Prediction

The trading session on March 31st began within a confined range between $82,540 and $81,240. By 01:10 UTC, a golden cross appeared on the MACD line, aligning with an oversold RSI signal, which pushed the price toward the upper resistance of the trading zone. However, selling pressure limited any significant breakout. Another golden cross formed at 04:30 UTC, leading to another breakout attempt. At 08:30 UTC, selling pressure intensified when a death cross appeared on the MACD line, confirmed by a previous overbought signal from the RSI. At 10:10 UTC, a well-defined golden cross coincided with an oversold RSI reading, sparking a steep price rise within an uptrend channel, shifting the market into a new range. 

Chart 1, Analyzed by Alokkp0608, published on April 1st, 2025.

The key resistance and support levels now stand at $83,830 and $81,920, respectively. The price briefly dipped at 13:25 UTC following the formation of a death cross. However, bullish momentum quickly regained strength as a golden cross emerged, driving the price higher. By 15:30 UTC, Bitcoin reached the key resistance level but failed to hold, as a subsequent death cross prevented any further breakout. Prices retraced before attempting another breakout. By 21:15 UTC, another golden cross, aligning with a previous RSI oversold signal, reignited an upward move. The price rise continued within an uptrend channel, extending into the next trading session.

Final Thoughts: Will Whales or Short-Term Holders Define BTC’s Next Move?

Recent price action in Bitcoin certainly established a distinct separation between institutional or “whale” players and those holding hope for short-term price action. Whales are still accumulating bitcoin (indicating long-term confidence), while short-term holders continue to capitulate (implying additional selling) at a level that has historically signaled a key turning point in bitcoin’s price cycle. Recent technical indicators reveal bitcoin’s difficulty breaking key resistance at $83,830, while attempts to remain bullish were met with selloffs. 

However, given the golden crosses occurring and many indications of oversold RSI, there is still potential for a recovery and move. Whale accumulation is continued, and if selling pressure from retail holders declines, BTC has a decent shot of forming a stronger base for recovery.For now, all eyes remain on whether Bitcoin can sustain its uptrend channel or if short-term volatility will push prices lower before a true breakout. The BTC price prediction indicates that traders should monitor confirmation from signals like MACD and RSI to ascertain the subsequent course of action.