Here Are Factors Strengthening Bitcoin Despite Macro Chaos

Santiment, a market intelligence platform, has identified factors strengthening Bitcoin stability amid the chaos of the global trade war.

In the past few days, Bitcoin’s price has rallied significantly, climbing by 12.9% from its low of $75,000 on April 8. The catalyst for this rebound came after President Donald Trump announced a 90-day pause on tariffs, which temporarily alleviated some market pressure.

At press time, Bitcoin is changing hands at $85,584, up 1.3% in the past 24 hours and 7% in the past week.

Factors Supporting Bitcoin Price Rally

Beyond tariff easing, several blockchain metrics indicate that Bitcoin’s recent price increase is supported by improving fundamentals and positive on-chain metrics.

First, Santiment’s report highlighted shifting market sentiment with traders becoming more optimistic about Bitcoin’s prospects.

Whale Accumulation and Less Selling Pressure

Notable figures in the crypto community, such as Michael Saylor and his company, Strategy, continue to make significant Bitcoin acquisitions.

MicroStrategy recently added $285 million worth of Bitcoin to its growing reserves. This move further highlights the increasing confidence among long-term investors.

Santiment’s data further show a significant rise in the Network Realized Profit/Loss (NRPL), a key indicator that often signals the potential for sustained rallies. This metric suggests that more Bitcoin holders are in profit, which can help reduce sell pressure.

Santiment’s chart shows that the price tends to move upward when the realized profit/loss metric is positive. Conversely, prices follow the downside when the realized profit/loss metric moves to the loss zone.

Bitcoin Price vs Realized Profit/Loss

Supply on Exchanges Dropping

Meanwhile, the supply of Bitcoin on exchanges has decreased, meaning fewer coins are available for sale. This decline in exchange supply typically signals that investors are holding onto their positions long-term, contributing to Bitcoin’s price stability.

As Santiment’s chart shows, the supply of Bitcoin on exchanges started to fall in mid-March. At one point in April, while the supply into exchanges surged, the price started to drop, although it recovered after the supply started falling again.

Bitcoin Price vs Exchange Supply

Notably, the accumulation of Bitcoin by large holders, or “whales,” has been another crucial factor. Wallets holding 10 or more BTC have reached an all-time high of 16.36 million BTC, demonstrating growing interest from significant investors.

Bitcoin Accumulation

Further, even during price declines, whales have continued to increase their holdings. As reported earlier, whales have consistently taken advantage of retail panic selling to accumulate more Bitcoin, further supporting the crypto’s price stability.

Blockchain’s Role in Global Trade Transparency

Per Santiment, beyond its use as an investment asset, blockchain technology is also playing an increasing role in global trade, a key issue in the context of current tariff debates.

Blockchain provides a transparent and reliable way to track the movement of goods, which can help customs officials verify whether products are being routed through countries with lower tariffs.

This feature has drawn interest from government software vendors, with projects like Truebit working to integrate blockchain solutions into global trade and compliance systems.

Santiment highlighted that these developments point to crypto’s expanding role in areas outside of price speculation, offering solutions to longstanding supply chain challenges.

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