Bitcoin 
$78,680 has experienced a decline of over 4% in the last 24 hours, now hovering below the $80,000 mark. As small investors engage in panic selling, large investors, often referred to as whales and sharks, have strategically purchased approximately 4,846 BTC (valued at $400 million) in recent weeks. This activity is being viewed as a potential indicator of market recovery in the second half of the month.
New Strategies from Whales and Sharks
According to the blockchain analysis platform Santiment, wallet addresses holding more than 10 BTC have undergone three significant accumulation phases since October 2024. The first wave of intense purchases began in mid-October and continued until the holiday season at the end of December. The second wave gained momentum in mid-January, peaking just a week before Bitcoin reached its record high of $109,000. However, major investors who began selling in mid-February contributed to the market’s downturn.
Since early March, whales appear to be taking advantage of Bitcoin’s price dips to accumulate more. Historical data shows that such moves often precede significant trend reversals. Santiment emphasizes that if the buying wave continues, a noticeable improvement is expected in the latter half of March.
Possible Scenarios for Bitcoin Ahead
According to QCP Capital, the $80,000 level emerges as a critical support zone in the short term on a weekly timeframe for Bitcoin. However, the momentum needed for a rally may depend on upcoming U.S. inflation data and fluctuations in the stock markets. Analyst Kevin Svenson noted that Bitcoin is testing the weekly 50 EMA (at $77,000), and a strong reaction from this level could maintain the upward structure.
Analyst CrypNuevo indicated that the $77,000 level has been tested for the sixth time, expecting a sharp rebound from this area. Additionally, they linked the decline of altcoins to the increase in Bitcoin’s market dominance, suggesting that the $80,000 – $82,000 range could serve as a liquidity target, though a sudden correction might push prices back to $77,000.
