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<div class="finbold"> 
 <p class="paragraph">Bitcoin’s (BTC) recent <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> action hints at a renewed strength in fighting for higher grounds and <a rel="dofollow" title="whale" href="https://thebittimes.com/tag/whale.html">whale</a> activity corroborates that.</p> 
 <p class="paragraph">In particular, Bitcoin <a rel="dofollow" title="whales" href="https://thebittimes.com/tag/whales.html">whales</a> have accumulated over 100,000 BTC in the past week. This activity draws a spike on the chart, as shown by the expert trader and on-chain analyst Ali Martinez. Martinez reported the increase in Bitcoins held by addresses between 1,000 and 10,000 BTC,&nbsp;worth over $7 <a rel="dofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>.</p> 
 <p class="paragraph">Interestingly, the spike resembles what the market previously saw in early February, before the bull run to above $70,000.</p> 
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <p class="paragraph">At that time, these whale addresses started accumulating larger amounts of Bitcoin, and the price followed to new all-time highs.</p> 
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  <img decoding="async" width="1024" height="526" src="https://cdn.thebittimes.com/images/2024/03/27/f52be24fcb5b88553fc5e4094ff6bd66.webp" alt class="wp-image-164083" srcset="https://cdn.thebittimes.com/images/2024/03/27/f52be24fcb5b88553fc5e4094ff6bd66.webp 1024w, https://cdn.thebittimes.com/images/2024/03/27/f52be24fcb5b88553fc5e4094ff6bd66.webp 300w, https://cdn.thebittimes.com/images/2024/03/27/f52be24fcb5b88553fc5e4094ff6bd66.webp 768w, https://cdn.thebittimes.com/images/2024/03/27/f52be24fcb5b88553fc5e4094ff6bd66.webp 1536w, https://cdn.thebittimes.com/images/2024/03/27/f52be24fcb5b88553fc5e4094ff6bd66.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Whale activity from addresses between 1,000 to 10,000 BTC. Source: Ali Martinez (<em>@ali_charts</em>)
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 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis-amid-whales-accumulation">Bitcoin price analysis amid whales accumulation</h2> 
 <p class="paragraph">Meanwhile, Bitcoin is trading in a range between $69,400 and $71,500, currently at $70,167, as of writing.</p> 
 <p class="paragraph">Notably, Bitcoin surged nearly 45% since February 24’s $51,000 to an all-time high of $73,805 on March 14. This happened during the previous whale accumulation.</p> 
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  <img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/03/27/37684d2ce0a055d74464cef6fd83ecbb.webp" alt class="wp-image-164084" srcset="https://cdn.thebittimes.com/images/2024/03/27/37684d2ce0a055d74464cef6fd83ecbb.webp 1024w, https://cdn.thebittimes.com/images/2024/03/27/37684d2ce0a055d74464cef6fd83ecbb.webp 300w, https://cdn.thebittimes.com/images/2024/03/27/37684d2ce0a055d74464cef6fd83ecbb.webp 768w, https://cdn.thebittimes.com/images/2024/03/27/37684d2ce0a055d74464cef6fd83ecbb.webp 1536w, https://cdn.thebittimes.com/images/2024/03/27/37684d2ce0a055d74464cef6fd83ecbb.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
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   BTC/USD 4-hour price chart. Source: <em>TradingView</em> (Finbold)
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 <p class="paragraph">Therefore, analysts expect Bitcoin to increase in <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> in the following days if <a rel="dofollow" title="whales" href="https://thebittimes.com/tag/whales.html">whales</a> continue to bag large amounts of the leading cryptocurrency. Moreover, investors expect the Bitcoin block subsidy halving in April to fuel <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> pumps moving forward.</p> 
 <p class="paragraph">From a technical analysis perspective, increased short positions open interest may also cause a short squeeze in BTC to around $75,000 per coin, as reported by Finbold on March 26.</p> 
 <p class="paragraph">However, cryptocurrencies and Bitcoin are highly volatile assets, navigating in an uncertain market. Investors must be cautious and have a solid investment strategy to avoid significant losses.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/bitcoin-price-prediction-as-whales-bag-7-billion-btc-in-a-week-tbt83694.html">https://thebittimes.com/bitcoin-price-prediction-as-whales-bag-7-billion-btc-in-a-week-tbt83694.html</a></p>

Bitcoin price prediction as whales bag $7 billion BTC in a week

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