Apr 25, 2025
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Bitcoin Price Recovers to $94,000 as Whales Accumulate Coins
The price of Bitcoin has risen to $94,000 from lows under $75,000 earlier this month. This increase is driven by large investors, known as whales, purchasing coins from the market.
Key points include:
- Glassnode's Accumulation Trend Score indicates strong demand from whales.
- Wallets with over 10,000 BTC have an accumulation score of 0.90; those with 1,000 to 10,000 BTC scored 0.7; smaller wallets scored 0.5.
- Large players are actively buying into the current rally.
- CryptoQuant reports the highest BTC outflow from centralized exchanges in two years, suggesting a trend toward re-accumulation by investors.
- Outflows indicate a preference for direct custody of Bitcoin, reflecting long-term holding strategies.
