Bitcoin Pulls Back from Highs as Whales Quietly Build Positions
After a strong rally to $74,047 in early March, Bitcoin lost momentum and entered a consolidation phase. According to Bitfinex’s latest analysis, passive selling near the upper range has capped upward movement, halting the bullish push.
Underlying Market Structure Turns Favorable
While retail investors continue to offload holdings, data reveals that large entities and long-term holders are actively accumulating. This shift in ownership is reducing downward pressure and signals strong conviction among strategic players.
- Whale wallet balances show steady growth
- Long-term holder supply hits new highs
- On-chain selling pressure drops to quarterly lows
The market is currently in equilibrium. Sustained ETF inflows or stronger spot demand could tip the balance. A decisive move above the $72,000 resistance level may open the door for a retest of previous peaks.