Will Bitcoin’s liquidity and whale activity drive it past $100,000 again?

Bitcoin holdings seem to have stabilized, with notable buying activity seen among prominent addresses
Whales are positioning themselves for a potential rally as liquidity inflows into the crypto market rise

Despite a market-wide decline, Bitcoin [BTC] has managed to remain above the $90,000-level for weeks now. This stability has limited its recent losses, with the same amounting to just 3.97% over the week and 5.49% over the month.

With market sentiment showing signs of shifting and traders ramping up buying activity, BTC could be poised to rally once again.

Accumulation gains momentum

After tracking the number of addresses with a balance of at least 1 BTC, Glassnode found that Bitcoin acquisition has surged this year.

According to its data, there has been a significant hike in the number of addresses holding more than 1 BTC. This marks a notable shift, especially following a prolonged distribution phase that began in October, during which many BTC holders were selling.

Source: Glassnode

Such accumulation often signals a renewed sense of confidence in the market. When investors shift from selling to holding, it means they anticipate sustained value and are likely to retain the asset – Potentially driving a rally.

AMBCrypto also observed other market activities indicating growing bullish sentiment among traders. This could allude to a potential uptick in BTC’s value in the near term.