The post Bitcoin Shows Signs of Recovery as Whales Drive Market Sentiment Higher appeared on BitcoinEthereumNews.com.

Bitcoin’s market sentiment has shifted to a bullish stance as whale addresses soar to a year-to-date high, indicating renewed confidence among major investors. In the past few days, Bitcoin’s (BTC) market has witnessed a notable turnaround, marking the first signs of optimism in a long-standing bearish phase. According to market analysts, Axel Adler highlights that the Bitcoin Sentiment Vote metric has turned green, suggesting an overall positive outlook. The recent bullish sentiment among Bitcoin whales marks a pivotal moment in cryptocurrency trends, reflecting renewed investor confidence and potential price movement towards higher resistances. Whales Lead the Charge: A Surge in Large Holders Interestingly, this shift in Bitcoin’s market sentiment was particularly pronounced among large holders, often referred to as whales in cryptocurrency circles. At the beginning of 2025, there were approximately 2,054 wallets holding over 1,000 BTC. However, this figure dipped to 2,038 wallets as uncertainty and pessimism gripped the market amidst macroeconomic challenges. However, in a surprising turn of events, whales have re-entered the market with vigor, aggressively accumulating Bitcoin. As a result, the number of whale addresses has surged to a remarkable 2,106, marking a year-to-date high for 2025, which suggests an increasing optimism among affluent investors. This uptick in whale addresses indicates an increasing level of confidence among large holders. According to on-chain data, whales exhibited a consistent negative Exchange Ratio for five consecutive days, further affirming their optimistic outlook for Bitcoin. Besides whales, the overall market also shows signs of optimism. Notably, U.S. institutional investors have shifted their sentiment to bullish after a prolonged period of bearishness. The Coinbase Premium Index indicates a positive trend for the first time in over two weeks, suggesting that institutional investors are also anticipating a rise in Bitcoin prices. The Implications for Bitcoin’s Price Movement This notable shift in market…

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Filed under: News - @ April 19, 2025 4:13 am