Bitcoin in the upswing: increase to $ 84,289 indicates potential upward trend-investor confidence grows due to rising wallet number

Current market development of Bitcoin

The cryptocurrency Bitcoin has recovered after a recent decline and is now fighting against a resistance trend line that is derived from its high in January. Bitcoin is currently being traded at $ 84,289, which corresponds to an increase of 1.2 % in the last 24 hours. This is in contrast to a decrease of 3.5 % last week. However, a loss of 9.4 %is shown in the 30-day review.

A analyst on TradingView has highlighted a strong day candle that has caught up with the losses of the past three days. The relative strength index (RSI) has recovered on its supportive line, which indicates a potential upward trend on momentum.

resistance analyzes and potential price developments

According to the analysis, Bitcoin is facing significant resistance. The most important hurdle is the falling trend line that started on January 20 after BTC reached an all -time high of $ 110,000. This trend line coincides with the 50-day sliding average (MA50) and represents the fifth time that this resistance is tested.

If Bitcoin breaks this resistance, this could signal a long -term upward trend. The next technical goal is set on the 2.0 Fibonacci extension, whereby an important price range is located directly below the $ 100,000 mark, near the upper end of the resistance zone from February.

lower Bitcoin offers and market mood

In the middle of this trust in the recovery of Bitcoin, great investors (also called "whales") increase their stocks. In particular, the number of wallets that hold between 1,000 and 10,000 BTC has increased, which is a potential signal for growing trust in the market. Santiment data show that there were 1,993 such wallets on March 31 - the highest number since December 2024. In just five weeks, the number of whales has increased by 2.6 %, with 50 new wallets.

This increase is significant because large owners of Bitcoin tend to reduce the available offer, which can lead to increased demand and possibly a price increase. In addition, recent data on net inflows on stock exchanges support the growing positive mood. In the last 24 hours there has been a significant drainage of Bitcoin of stock exchanges with a decline in net inflows by 37.55 %. This indicates that retailers keep their Bitcoin more than selling, which could signal trust in a return return.

Over the last seven days, the net flow is at -5.21 %, which further reflects the trend towards Bitcoin, which is deducted from the stock exchanges. In summary, it can be said that during the 30-day net flow data on stock exchanges a positive movement (+37.10 %) show this, this indicates a possible sales test, while the current, shorter data support a bullish moment.