Bitcoin news: Recovery from 4-day low faces hurdles amid whale accumulation
Bitcoin is trying to gain clear upward momentum
During the European session today, March 19, Bitcoin price recently rebounded from a four-day low of $81,200, reaching around $83,300. Despite this recovery, the price remains stuck below the $84,400 resistance level, struggling to gain clear upside momentum.
The recent price weakness reiterates broader market hesitation as traders assess liquidity conditions and potential profit-taking following Bitcoin’s extended rally. However, on-chain data suggests that large investors are accumulating BTC aggressively. According to CryptoQuant, a special group of Bitcoin owners, each holding at least 1,000 BTC they bought in the past six months, has been buying even more Bitcoin at a fast pace.
BTC/USD price dynamics (March 2025). Source: TradingView.
This trend, which began in November 2024, has accelerated in recent weeks, with new whales amassing over 1 million BTC in total, including 200,000 BTC in March. This level of accumulation indicates strong confidence from high-net-worth investors, which could support Bitcoin’s price in the long run.
Bitcoin technical indicators show bullish momentum, but key resistance remains
Despite the accumulation, Bitcoin’s technical indicators reflect ongoing resistance. The 4-hour RSI has shifted into bullish territory, signaling growing buying momentum. However, the 100-day EMA sits near $84,400, reinforcing the resistance zone. A decisive break above this level is needed to confirm sustained upside potential.
While whale accumulation suggests strong long-term confidence, resistance at $84,400 remains a significant hurdle. If Bitcoin fails to break above this level, selling pressure could increase, leading to another retest of support levels. Additionally, if broader market conditions weaken or liquidity dries up, Bitcoin may struggle to maintain its recent gains.
Bitcoin fell as fresh liquidity dried up, and large holders sold at lower prices. Technically, it dropped from $84,400 to $82,700 after failing to break resistance.
