As the new month nears its close, the cryptocurrency market has begun to recover, and the leading crypto asset, Bitcoin , has made a slow but progressive upward run, briefly tapping $88,350. The bullish uptrend reflects stability in momentum. Two weeks prior, Bitcoin traded at $77,500 as the global cryptocurrency market continued to record losses. Bulls quickly pulled the asset back up after the local bottom was recorded while buyers dominated the market. Notably, data from Santiment shows a spike in the total number of wallets holding 100 to 10,000 BTC. This new development coincides with Bitcoin’s upward movement, indicating that whale accumulation might reflect renewed demand and an uptick in positive sentiment. Similarly, Bitcoin miners, another key demographic in the market, have clung tight to their holdings. Over the past 48 hours, no significant selling activity has been recorded. Since February 26th, 2025, the Bitcoin miners’ reserve has grown exponentially, from less than $84,000 on March 6th to $98,000 on March 26th. Until whales begin selling, the current accumulation rate is an attractive indicator for Bitcoin trades and investors. In the near term, the outlook for Bitcoin amongst key proponents is bullish, with crypto pundits eyeing $90,000 as a potential price target for the big bull. With key resistance at $89,500 and main resistance around $90,000, a breakout might prolong the upward rally, further serving as an entry point for new buyers. With immediate support at $85,500, a break below the $83,800 key support level could pull Bitcoin to the $82,500 support area. After successfully clearing weekly losses, Bitcoin now trades at a press-time price of $87,398.
