“Dormant Bitcoin Whale Awakens! $674M BTC Moved Amid Crypto Crash – Is a Market Shakeup Coming?

A significant amount of Bitcoin, valued at around $674 Bitcoin, has suddenly been transferred. The dormant tokens were moved yesterday, according to crypto analytics firm CryptoQuant. These coins had been dormant for five to seven years, raising questions about the motive behind this sudden activity.

Dormant Bitcoin Whale Cutting Losses?

The movement coincides with a highly volatile day for the cryptocurrency space. All cryptocurrencies dipped, with Bitcoin also experiencing a sharp decline. Bitcoin dropped nearly 5%, hitting a 24-hour low of $83,609 on Friday. This market-wide downturn mirrors a huge slump in the United States Stock exchange as well, with the S&P 500 Index also facing remarkable losses. 

Bitcoin Whale Activity Increases: Massive Transactions Spotted

While it is still unclear whether this dormant Bitcoin whale movement is linked to the overall market downtrend, the transaction has sparked discussions among crypto experts. The large sum involved in the move suggests a significant player is re-entering the market. This activity follows other large-scale Bitcoin movements, including a $250 million transfer by another dormant Bitcoin whale, who recently emerged, as reported by U.Today. Additionally, Arkham Intelligence also reported that the U.S. Government also moved millions of dollars worth of BTC on Thursday.

Despite the recent price uncertainty, on-chain data analytics suggests a broader trend of accumulation and interest among large Bitcoil holders. Glassnode has reported that the Bitcoin supply per whale has been increasing since March, indicating increased accumulation, though the price levels remain below those seen earlier in the year. Since the beginning of March, whales have accumulated around 130,00 BTC. This suggests that despite the short-term volatility, large Bitcoin holders maintain a long-term bullish outlook on the seasoned crypto token. 

As the market takes an interesting turn, let’s take a quick look at Bitcoin’s recent performance with a detailed price analysis. Bitcoin price prediction at the end!

BTC Price Analysis of Last 24 Hours: Market Downturn Hurts Bitcoin

Bitcoin started the day at the price of $87,100. At the beginning, it seemed to be working in a range, alternating between $87,600 and $86,820. Although Bitcoin did try to break out upward, the attempt was unsuccessful, as the BTC price was sent reeling down in a deep downward trend. The downtrend was further validated by two death crosses on the MACD line at 2:00 AM and 4:00 AM UTC, as Bitcoin’s downtrend turned out to be a long one. It was also supported by the falling RSI levels, indicating oversold markets.  By 7:45, Bitcoin was trading at $85,170, as it entered a trading range. A golden cross was seen, but the buying pressure was simply not enough for an upward breakout, as Bitcoin continued to find resistance at the $85,500 mark. 

Chart1: analyzed by raodevansh18, published on TradingView, March 29, 2025

Bitcoin’s repeated failures to break resistance resulted in another downtrend, supported by a 13:00 UTC death cross, and bitcoin eventually slipped to $83,660 for support. A golden cross appeared an hour later, and took BTC price up on a gradual descent.  However, strong resistance $84,600 was observed, and BTC entered another downtrend. As of the last update, the coin had fallen to the support level. 

BTC Price Prediction: When Will Bitcoin Recover?

Keeping in mind that the entire crypto space faces the brunt of a market crash, Bitcoin’s recovery speed cannot be accurately deduced. A combination of factors has led to this, but seeing the huge amount of institutional interest in Bitcoin, it is bound to recover. For now, a bearish triangle seems to be forming, as the resistance line continues to drop, while the support line holds still. BTC will soon breach support. Positive activity might follow closely. Stay tuned to the charts for exciting price action ahead!