News 
April 18, 2025 
5 min. 
Bitcoin Whales are driving momentum behind a fresh technical breakout that could propel Bitcoin toward the $100,000 mark by May. Despite looming economic headwinds, the wealthiest BTC holders remain confident, with recent on-chain data revealing growing optimism among top investors.
Bitcoin Whales Now Accumulating Over 300% of New BTC Supply
Bitcoin whales and mid-sized investors are snapping up BTC at an unprecedented pace, accumulating more than triple the amount of newly mined coins annually, according to data from Glassnode.
At the same time, crypto exchanges are witnessing a massive depletion of their BTC reserves, with net outflows pushing the yearly exchange absorption rate below -200%. This trend reflects a rising shift toward long-term holding strategies and self-custody.
Large-scale holders with between 100 and 1,000 BTC are currently acquiring Bitcoin at the fastest rate on record, highlighting a new era of aggressive accumulation by sharks and whales.
This behavior points to a significant transformation in the Bitcoin ecosystem. With institutional adoption gaining traction, particularly following the approval of spot Bitcoin ETFs last year, there’s now a structural decline in available BTC on exchanges. As a result, we are seeing a strong, sustained bullish outlook among high-value investors.
Most Investor Groups Are Buying the Bitcoin Dip
According to Glassnode, Bitcoin whales holding over 10,000 BTC continue to accumulate aggressively, with their Accumulation Trend Score hovering near 0.7 as of April 18. This score, which ranges from 0 (indicating distribution) to 1 (indicating accumulation), suggests that major holders remain confident in Bitcoin’s long-term value.
Meanwhile, smaller investor groups (those holding between 10 and 100 BTC, and even as low as 1 BTC) have started easing their earlier selling pressure. Their scores have rebounded to around 0.5, signaling a shift back to neutral behavior and reduced distribution.
Interestingly, even the tiniest investor cohorts are showing signs of stabilization.
On-chain analyst Mignolet notes that this current whale accumulation pattern resembles the behavior observed just before Bitcoin’s explosive bull run in 2020.
Bitcoin Breaks Falling Wedge Pattern, Eyes $100K Target
Bitcoin has surged past a long-standing falling wedge pattern, suggesting a bullish shift that could propel the price toward the $100,000 milestone by May.
This chart pattern, characterized by price narrowing between two descending trendlines, typically concludes with an upward breakout. Traders estimate the breakout target by calculating the wedge’s maximum height and adding that to the breakout level. Based on this method, Bitcoin could climb beyond $101,570.
However, BTC is currently facing resistance near $85,300, where its 50-day (red line) and 200-day (blue line) exponential moving averages intersect. A failure to break through these levels could result in a pullback, possibly retesting the wedge’s upper boundary around $80,000.
Market analyst Scott Melker noted, “The 200-day moving average is still acting as resistance, and $88,804 remains a crucial level. Flipping this into support is essential to shift the market structure and form a higher high.”
