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Bitcoin Accumulation Hits Post-FTX Levels – New Investors Scoop 172,705 BTC Since Late February

Bitcoin Accumulation Hits Post-FTX Levels – New Investors Scoop 172,705 BTC Since Late February

Sebastian Villafuerte
by Sebastian Villafuerte
5 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is trading above crucial demand levels as bulls attempt to reclaim higher prices after weeks of massive selling pressure and macroeconomic uncertainty. The leading cryptocurrency has lost over 29% of its value since reaching its all-time high of $109K in January. However, Bitcoin has rebounded over 7% from Tuesday’s $81K low, fueling speculation about its next move.

Related Reading: Stablecoin Inflows Surpass All Previous Peaks – Is BTC Set For A Major Move?

Market sentiment remains mixed, with some analysts arguing that Bitcoin has entered a bear market, while others see this as a healthy correction before another rally. Uncertainty surrounding global economic conditions, including rising inflation and ongoing trade tensions, continues to impact investor confidence.

Despite the uncertainty, CryptoQuant data suggests that Bitcoin demand remains strong. Since February 23, when BTC was trading around the $96K level, new investors have acquired 172,705 BTC. If this trend continues, Bitcoin could see renewed momentum, potentially leading to a recovery phase. However, bulls must reclaim key resistance levels to confirm a reversal and prevent further downside pressure.

Bitcoin Holds Above Key Levels But Lacks Momentum For Recovery

Bitcoin is trading above crucial price levels but still faces a significant test as bulls attempt to confirm a recovery. Since late January, trade war fears and erratic economic policies from US President Donald Trump have shaken both the crypto and equities markets.

Investors are growing increasingly concerned about a potential recession, with many speculating that Bitcoin has already entered a bear market. Hopes for a bullish 2025 are fading as BTC struggles to reclaim lost ground.

Despite the uncertainty, top analysts remain optimistic about Bitcoin’s future performance. On-chain data suggests that strong accumulation is taking place, a pattern typically seen before market recoveries. Axel Adler, a leading crypto analyst, shared insights on X, revealing that since February 23, when BTC was trading around $96K, new investors have acquired 172,705 BTC. This level of demand is comparable to the buying pressure seen after the FTX collapse, which marked the bear market bottom.

Bitcoin yearly supply change and new coins market impact | Source: Axel Adler on X
Bitcoin yearly supply change and new coins market impact | Source: Axel Adler on X

Bitcoin could still perform well this year if demand remains steady and macroeconomic conditions stabilize. However, bulls must push Bitcoin above key resistance levels to confirm a reversal. A failure to reclaim $90K could lead to prolonged consolidation or even another leg down in price.

Related Reading: BTC Stuck In $83K-$84K Resistance As Market Awaits A Catalyst For Breakout – Analyst

Price Action: Bulls Must Defend $85K

Bitcoin is trading at $85,900 after successfully pushing above the 200-day moving average (MA) and exponential moving average (EMA). Currently, BTC is retesting the EMA, a critical level that could determine the next move for the market.

BTC trading above the 200-day MA & EMA | Source: BTCUSDT chart on TradingView
BTC trading above the 200-day MA & EMA | Source: BTCUSDT chart on TradingView

Bulls must hold above the $85K support level to maintain momentum and start a recovery toward $90K. A confirmed push above $90K would signal strength and could lead to further upside, potentially revisiting key resistance levels from earlier in the year.

Related Reading: $161 Billion In BTC Short-Term Investor Capital Vanishes – Will This Weaken The Market?

However, if Bitcoin fails to defend the $85K level, the market could see renewed selling pressure. A drop below this support could trigger a deeper correction, with BTC likely falling below the $80K mark. Given the uncertainty surrounding macroeconomic conditions and investor sentiment, traders are closely watching how Bitcoin reacts around these levels. Holding above $85K could serve as a foundation for a broader market recovery, but a break below it may confirm a continuation of the bearish trend.

Featured image from Dall-E, chart from TradingView 

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Sebastian Villafuerte

Sebastian Villafuerte

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies. As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community. To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology. Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance. Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

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