Bitcoin Whale Holdings Surge By 62K BTC In March – Is the Downtrend Finally Over?

Bitcoin is now trading above key levels, but bulls still have work to do before confirming a full recovery. Since late January, trade war fears and erratic economic policies from US President Trump have injected volatility into both the crypto and equities markets. As recession concerns grow, speculation of a prolonged bear market has intensified, dampening hopes for a strong bullish trend in 2025.

Despite the uncertainty, on-chain data suggests that Bitcoin could still have room to recover. According to metrics from IntoTheBlock, Bitcoin whale balances have been trending downward for nearly a year, reflecting a prolonged period of distribution. However, March data signals a potential shift, as large holders have started accumulating BTC again. This renewed accumulation could indicate a change in market sentiment and a foundation for price stabilization.

For Bitcoin to sustain its recovery, bulls must hold current levels and push toward higher resistance zones. A failure to reclaim key levels could lead to further downside pressure. The coming weeks will be crucial in determining whether BTC can regain its bullish momentum or if the market remains under bearish control.

Bitcoin Bulls Attempt Recovery As Whales Return to Accumulation

Bitcoin is trading above crucial demand levels as bulls fight to reclaim higher prices after weeks of intense selling pressure and macroeconomic uncertainty. Since hitting an all-time high of $109K in January, BTC has lost over 29% of its value, fueling speculation about a potential bear market. However, recent price action suggests some strength, with Bitcoin climbing over 7% from Tuesday’s $81K low.

Market analysts remain divided on Bitcoin’s next move. Some believe the asset is entering a prolonged downtrend, while others argue that the current dip is a healthy correction before a major recovery. A key factor influencing this outlook is whale behavior, as large holders often dictate long-term trends.

IntoTheBlock shared on-chain insights on X, revealing that Bitcoin whale balances have been in a downward trend for nearly a year, signaling distribution and weakening demand. However, March data now hints at a possible reversal, as whales have accumulated roughly 62,000 BTC since the start of the month. This shift in behavior suggests that institutional and high-net-worth investors may be positioning themselves for a potential rebound. Bitcoin Whales Balance | Source: IntoTheBlock on X

For Bitcoin to confirm a recovery, bulls need to sustain current levels and push above key resistance. If accumulation continues, BTC could be on track for a bullish resurgence.

Price Holds Above $85K As Bulls Aim For $88K Breakout

Bitcoin is trading above the $85K level as bulls attempt to reclaim momentum and push toward higher resistance. The key level to watch in the short term is $88K, which aligns with the 4-hour 200 EMA and serves as a major resistance barrier. If BTC successfully reclaims this level, a breakout above $90K is expected, potentially confirming a shift in momentum toward a recovery. BTC holding above $85K | Source: BTCUSDT chart on TradingView

However, Bitcoin’s price action remains fragile, with bulls struggling to establish a strong foothold. The market is still under the influence of macroeconomic uncertainty, with trade war fears and U.S. stock market volatility adding pressure. Any failure to hold above $85K could trigger renewed selling, pushing BTC below $81K and opening the door for further downside.

The next few trading sessions will be crucial as Bitcoin attempts to sustain its recent gains. If bulls can maintain control and reclaim the $88K-$90K zone, a stronger uptrend could develop. Otherwise, losing the $85K support level would put Bitcoin at risk of testing lower demand zones, reinforcing bearish sentiment.

Featured image from Dall-E, chart from TradingView