Bitcoin Whales Trigger 1,715 Mega Moves in 24 Hours: Is $74K the New Bottom?

Bitcoin has bounced back in style after dipping to $74,000, and it looks like the big players had a hand in it. On-chain data shows a strong spike in large transactions, those over $1 million, as Bitcoin whales stepped in during the dip. Their timing wasn’t random. These heavyweight investors tend to move quietly when prices slip, and this time, they seemed to seize the moment to accumulate more BTC, helping fuel the quick recovery we’ve seen since the start of the week, a move that may signal a shift in the broader BTC market trend

Bitcoin Whales Step In During the Dip

Analyst Ali Martinez shared some eye-opening data from Santiment showing Bitcoin’s Whale Transaction Count hitting 1,715 on Monday, the highest we’ve seen in weeks. That surge came right as BTC hit its local low, suggesting whales were scooping up cheap coins. While their activity has cooled off slightly since then, the impact is already visible in the price rebound. When whales make a move like this, it often signals growing confidence behind the scenes, even if retail sentiment is shaky, and it could be an early sign of a shifting BTC market trend.

Source: X @Ali_Charts

Old BTC on the Move Raises Eyebrows

But it’s not all smooth sailing. In a more cautious twist, 365 BTC that had been sitting idle for over 10 years was suddenly moved, according to a post from CryptoQuant analyst Maartunn. Movements like this from old wallets can spook the market, as they sometimes hint that long-term holders are preparing to sell.

It doesn’t necessarily mean trouble ahead, but it’s a reminder that not everyone is fully confident in the current rally or the sustainability of the BTC market trend. With big players buying and old wallets stirring, it’s a good time to check in on what the charts are telling us. Let’s break down the key technical levels and see where Bitcoin might be headed next.

BTC Price Action Analysis of April 9, 2025

Bitcoin’s price action on the 5-minute chart reflects a sharp correction from the $81,000 resistance zone, with a strong downward channel forming shortly after the peak. The price broke below key support around $78,000 and slid toward the $74,000 range before finding a temporary bottom. A bounce from this lower support level was accompanied by a sequence of golden crosses on the MACD, suggesting short-term bullish momentum. The RSI touched oversold territory multiple times during the decline, reinforcing the notion of exhaustion among sellers. However, each relief rally was met with resistance, limiting upward momentum and highlighting bearish pressure near intraday highs.

Chart 1, Analyzed by Alokkp0608, published on April 9th, 2025

Despite some bullish signals like repeated golden crosses and oversold RSI rebounds, Bitcoin’s inability to reclaim and hold above $77,000 hints at a fragile recovery. The horizontal price action following the bounce, coupled with multiple death crosses on the MACD, suggests indecision and potential consolidation before the next major move. Support near $74,500 continues to hold firm, forming a key demand zone, while resistance near $80,000 remains unchallenged. Unless bulls regain strength and break above $77,500 with volume, a retest of the lower range remains likely. 

Conclusion: Bitcoin Whale Moves, Fragile Bounce, and Key Levels to Watch

The BTC price’s quick rebound from $74,000 has a lot to do with Bitcoin whales jumping in during the dip, which is always a strong signal that the big players are paying attention. That said, the sudden movement of old, untouched BTC adds a bit of uncertainty to the mix. The technical picture shows some encouraging signs, like golden crosses and RSI dips into oversold territory, but the bulls still haven’t managed to push past $77,500.

Right now, BTC feels like it’s caught between momentum and hesitation. If buying pressure doesn’t pick up soon, the rally could start to fizzle. Traders should closely watch these levels for potential price swings as Bitcoin continues to react to macroeconomic factors and broader market trends.

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