The post Will $94,500 be Bitcoin’s next price target? Key datasets suggest… appeared on BitcoinEthereumNews.com.

A Bitcoin accumulation address made a significant purchase following the latest bout of market decline Charts highlighted the possibility of the price crossing into the $90,000-zone Bitcoin [BTC] has managed to maintain a steady price threshold over the past couple of days, hinting at the potential rebirth of a market rally. And yet, over the past week, the crypto has recorded a slight decline of 3.81% to trade at $81,016 at press time. According to AMBCrypto, buying volume in the derivatives and institutional markets has been higher lately and this could soon trigger an upward move. Will Bitcoin add another $13,000 to its price? A CryptoQuant report found that a Bitcoin accumulation address, known for buying the asset at strategic market positions, recently made its second-most significant purchase over the past three years. Following the price drop to the $76,000-region, the address bought 48,575 BTC, worth approximately $3.6 billion – Its largest single-day purchase since acquiring 95,000 BTC on 01 February, 2022. Interestingly, both transactions were worth roughly the same amount in dollar terms – $3.6 billion. Source: CryptoQuant A significant purchase such as this from a whale account typically implies that an incoming rally could be on the horizon. This could lend confidence to the overall market, leading to more buying activity. Further analysis revealed that if the rally begins, the asset would likely have a free run until it hits the $94,500 zone. This is a level where notable selling pressure exists, which could push the price lower. If this rally materializes from its press time price level, BTC would have added $13,480 to its dollar value. Source: Glassnode Other markets support a run-up Institutional and derivative market traders have been placing bets on a push for Bitcoin higher up the charts.  At the time of writing, the…

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Filed under: News - @ April 11, 2025 3:26 pm