Bitcoin (BTC) is quietly building a bullish momentum as smart money inflow surges, according to a revelation shared today by Nexo, a centralized finance platform that empowers users to grow, manage, and preserve their crypto holdings. Based on Nexo’s market observation, Bitcoin smart money wallets on its trading platform have significantly increased their holdings over the past two weeks, steadily accumulating BTC, suggesting a positive trend in investor interest amid the asset’s recent price rises.
Today, Bitcoin trades at $78,463, up 0.2% over the past 24 hours. The crypto has also been up 0.6% and 17.2% in the past week and month, respectively, an indicator of a developing momentum that appears to be accelerating.
Smart Money Wallets Accumulate Bitcoin As Price Consolidates
Also, data shared by market analyst Glassnode on the X social platform backed the above developing market bullishness, pointing out that BTC’s smart money wallets have been silently accumulating the asset while its price consolidates at the $78,000 level. Data reported by Glassnode identified that the number of wallets holding 100+ BTC has been consistently climbing recently, showing their increased enthusiasm for the flagship cryptocurrency. Furthermore, over the past two weeks, wallets holding between 10-10k BTC have accumulated an additional 41,000 BTC, a trend indicating that these wallets are expanding their Bitcoin holdings, showcasing a strategic move by large investors.
The above accumulation trend suggests whales’ increased confidence in Bitcoin’s long-term potential, aggressively purchasing tokens at the current market conditions as they position themselves for possible price surges. The activity of these whale wallets could positively influence upcoming price movements, as large-scale token accumulation traditionally brings substantial market enthusiasm and price rises.
Why BTC Prepares To Climb To $85,000
The above on-chain data shows that smart money is quietly entering in BTC, meaning a breakout is imminent in the market. The price of Bitcoin has increased by 17.2% over the past 30 days, not a mere happening but an indicator that the asset is undergoing a continued, stable accumulation phase.
Smart money wallets are already aligning themselves for the next big move. Bitcoin’s weekly chart shows a bullish flag pattern forming, showing a potential continuation of BTC price climbs in the coming days. This bullish structure signals that BTC could be heading towards the $85,000-$86,309 range, a 10% upside from its current price levels.
