Whales sell into strength as Bitcoin stays below $83k resistance

Maartun says the rebound looks like a bear rally. Structure is improving, but no confirmed breakout yet.

Bitcoin bounced from the Feb 6 low near $60,000 and trades around $75,000. The CryptoQuant analyst frames this as market character, not price alone. “Is this the start of a new trend or just another rally that gets sold into?” he said in an April 20 video and post on X.

What’s improving:
- Long-term holder supply rose by ~354,000 BTC in 30 days. He calls it “structural accumulation” as coins leave active circulation (NewsBTC).
- Strategic capital entered fast. He cited a $2.66B raise in 48 hours ($1.16B on Apr 13, $1.56B on Apr 14), which usually drives a stronger response (X).

What caps the upside:
- Short-term holders sent ~60,000 BTC to exchanges while SOPR stayed below 1. They are selling at a loss, a pattern seen in bear rallies (NewsBTC).
- Whales (>100 BTC) increased exchange inflows, signaling fresh distribution at current levels (NewsBTC).

Key line in the sand:
- Price remains below the short-term holder realized price, which he places near $83,000. In bull phases, price holds above; below it often acts as resistance (X).

Bottom line from Maartun: internals are better, but sellers still meet demand. A sustained move back above the ~$83,000 pivot would strengthen the bull case. At press time, BTC traded at $75,088.