Indeed, in the last week of April, Bitcoin showed its strength by bouncing off that support level to stay above $63,000. Whale accumulation skyrocketed, blowing bullish sentiment and the overall market sentiment overwhelmingly positive. This hoarding has enormously propped up Bitcoin’s price. It has led to a stunning recovery from the depths of early April. The change represents a radical move from a fear-based market extreme to a growing investor sentiment of greed.

Whale Accumulation Drives Bitcoin Stability

In fact, large Bitcoin holders—dubbed whales—are actively maintaining Bitcoin’s price floor. Their activity is perhaps the most important factor driving the local recent rush market. Specifically, wallets in the 1k to 10k BTC category greatly ramped up their accumulation scores throughout the latter half of the month. The fact that he’s been on this buying spree means one thing—he really believes Bitcoin will continue to appreciate, big and strong.

The accumulation score for these wallets has reached its highest level since February, reflecting a renewed confidence among major investors. The metric tracking the rate at which whales are increasing their positions has shot up to 0.7. Yet another indicator of extreme bullish build up in the market. Their amplified activity from these big players only highlights a larger trend of strategic investment in Bitcoin.

Sentiment Shifts from Fear to Greed

Investor sentiment has made a dramatic U-turn, which you can see in the Fear and Greed Index. Bitcoin bounced all the way up from deep fear into a neutral position. Its score skyrocketed from 15 to 52 points. Overall, this change is a signal of greater risk appetite and a more bullish outlook on Bitcoin’s future performance.

This change in sentiment has been amplified by growing Bitcoin supply scarcity on exchanges. This trend is a positive indication that investors are choosing to adopt longer-term holding strategies rather than quick flips. The transition from fear to greed is a positive sign, indicating further upside may lie ahead.

Positive Indicators and Market Outlook

Recent Bitcoin performance, most recently a 25% retracement from its early April bottoms, have added to the bullish sentiment turnaround. Underpinning this recovery, we have five divergence signals, indicating the possibility for further bullish momentum in Bitcoin and altcoins. These technical indicators are a reflection of the underlying strength in the market that is beckoning even more investment.

Bitcoin ETFs made up part of the positive momentum too, seeing a streak of five straight days of positive inflows. These inflows undoubtedly reflect an increasing institutional interest and confidence in Bitcoin as a long-term investment asset. Whale accumulation trending upward. Sentiment returning to bullish. Taken together, in addition to strong ETF flows, we see a solid bullish case for Bitcoin in the short term.

"So far, large players have been buying into this rally," - Glassnode

Wildcard macroeconomic factors like tariffs and changes in interest rates could factor in to create volatility and change the dynamics of the market.

"We have seen Bitcoin supply on exchanges dropping due to public company purchases—something we anticipate accelerating in the near future," - Fidelity Digital Assets