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Bitcoin hovers around $84K: Whales quietly accumulate as market braces for a breakout
Bitcoin continues to trade around the $84,000 mark, moving sideways for the past several days. Yet beneath the calm surface, subtle but significant shifts are taking place.
Wallets holding between 1,000 and 10,000 BTC are steadily increasing — a familiar pattern last seen in April 2024, just before Bitcoin made a major breakout.
This is a quiet but meaningful signal: large players are discreetly accumulating. And in markets, such moves are rarely coincidental.
As BTC supply tightens and institutional money begins to flow back in, this could very well be the foundation for a strong bullish phase.
A familiar accumulation pattern returns
Since March 5, the number of wallets holding 1,000–10,000 BTC has climbed from 1,944 to 2,014 — a notable increase that mirrors the accumulation wave seen last April.
The 30-day change metric clearly reflects the rising activity among large investors. Historically, such accumulation phases have often preceded strong bullish trends — a quiet yet clear signal that confidence may be gradually returning to the market.
Whales start to stir the waters
While retail investors remain cautious and hesitant, whales are seizing the moment.
On April 14, a whale purchased 1,500 BTC worth approximately $127 million directly on the OKX exchange. Even though more than 29,000 BTC have been taken in profit since April 9, recent activity suggests a shift in momentum.
Within just 24 hours, two whales withdrew a total of 4,372 BTC (around $372 million) from exchanges — one of them alone pulling out 500 BTC (worth over $42 million) from OKX.
These moves show that after booking profits, whales are now switching back into accumulation mode — a signal the market should not ignore.
Bitcoin: Poised for breakout or retest of support?
At the time of writing, Bitcoin is trading at $83,912. Although showing a slight recovery, the price still lacks a clear directional impulse.
The RSI is hovering around the neutral 50 level, indicating a balanced state between bullish and bearish sentiment. Meanwhile, the OBV (On-Balance Volume) remains steady, reflecting weak buying pressure despite the minor rebound.
Following the early-April correction, BTC is consolidating within a tight range — a sign of market hesitation on both sides.
Unless Bitcoin can break above the $85,000 resistance with significant volume to support the move, the scenario of continued sideways action — or even a retest of the $80,000 support zone — remains entirely plausible.
