Bitcoin (BTC) Stalls Above $80,000 as Whales Stay on the Sidelines

Bitcoin (BTC) continues to hover in a state of uncertainty as both whale activity and technical indicators point to a market lacking strong conviction. Large holders have remained inactive for over a week, with the number of whale wallets holding between 1,000 and 10,000 BTC steady at 1,991 since March 24.

Meanwhile, technical charts like the Ichimoku Cloud and EMA lines offer a mixed outlook, reflecting hesitation in both bullish and bearish directions. As BTC trades near key support and resistance levels, the coming days could determine whether April brings a breakout or deeper correction.

Bitcoin Whales Aren’t Accumulating

The number of Bitcoin whales—wallets holding between 1,000 and 10,000 BTC—currently stands at 1,991, a figure that has remained remarkably steady since March 24.

This level of consistency in large holder activity suggests that major players are neither aggressively accumulating nor offloading their positions.

Given the size of these holdings, even minor shifts in whale behavior can significantly impact the market. This stability is particularly noteworthy given recent volatility across the broader crypto market.

Bitcoin Whales. Source: Santiment

Tracking Bitcoin whales is crucial because these large holders often have the power to influence price action through their buying or selling decisions.

When whales accumulate BTC, it can signal confidence in future price appreciation, while large-scale selling can indicate upcoming downward pressure. The fact that the number of whales has remained stable for the last 11 days may suggest a period of consolidation, where big investors are waiting for a clearer macro or market signal before making their next move.

This could imply that major players see the current BTC price as fair value, potentially leading to a tightening of price action in the short term before a breakout in either direction.

BTC Ichimoku Cloud Shows A Mixed Picture

The current Ichimoku Cloud setup for Bitcoin shows a mixed but slightly cautious sentiment.

The price recently dipped below the red baseline (Kijun-sen), and despite a brief push into the cloud, it was rejected and fell back below it—indicating that bullish momentum lacked follow-through.

The blue conversion line (Tenkan-sen) is now trending downward and has crossed below the baseline, which often reflects short-term bearish momentum. Meanwhile, the Leading Span A (green cloud boundary) is starting to flatten, while Leading Span B (red boundary) remains relatively horizontal, forming a thin and neutral cloud ahead.

BTC Ichimoku Cloud. Source: TradingView

This type of thin, flat cloud suggests indecision in the market and a lack of strong trending momentum. The price hovering just below the cloud further reinforces the idea that BTC is in a consolidation phase rather than a clear trend.

If the price can break back above the cloud and maintain that level, it could signal renewed bullish strength.

However, continued rejection at the cloud and pressure from the falling Tenkan-sen could keep BTC in a corrective or sideways structure. For now, the Ichimoku setup reflects uncertainty, with no dominant trend confirmed in either direction.

Will Bitcoin Rise Back To $88,000 In April?

Bitcoin’s EMA structure still leans bearish overall, with longer-term EMAs positioned above the shorter-term ones. However, the recent upward movement in the short-term EMAs suggests that a rebound could be forming.

If this short-term strength develops into a sustained move, Bitcoin could first test the resistance at $85,103. A successful break above this level may signal a shift in momentum, opening the door to higher targets at $87,489. Recently, Standard Chartered predicted that BTC is likely to break $88,500 this weekend.

BTC Price Analysis. Source: TradingView

If bullish pressure remains strong beyond that point, Bitcoin price could push even further to challenge $88,855, a level that would mark a more convincing recovery from the recent pullback.

“(…) After Wednesday’s volatility, BTC has rebounded more than 4% and remains firmly above $79,000, with a key support level forming at $80,000 and slightly higher daily exchange volumes, which is a positive sign. On top of this, Bitcoin ETF flows suggest sentiment remains strong, with $220 million inflows on “Tariff Day”, April 2.,” Nic Puckrin, crypto analyst, investor, and founder of The Coin Bureau, told BeInCrypto.

However, if Bitcoin fails to build enough momentum for this rebound, downside risks remain. The first key level to watch is the support at $81,169.

As the trade war between China and the US escalates, a drop below this level could see BTC falling under the psychological $80,000 mark, with the next target around $79,069. If this zone is also lost, the bearish trend could intensify, sending BTC further down toward $76,643.

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