Robust Volatility Continues to Take Over the Broader Crypto Market

Robust volatility continues to take over the broader crypto market, causing a sluggishness in Bitcoin's price

Bitcoin (BTC) price has struggled to recover its upward momentum in recent weeks, remaining in a sluggish trading range as it fails to break out to a new all-time high.

However, despite the less-than-favorable market conditions, large Bitcoin investors, or whales, have been persistently buying the asset, according to intelligence and on-chain data platform Santiment.

As such, the number of BTC whale wallet addresses has risen to new levels in spite of the cryptocurrency’s continuous pricing issues. Specifically, the growth is spotted among large investors holding between 1,000 BTC and 10,000 BTC, which indicates confidence in its long-term potential.

“And while prices continue ranging as March draws to a close, whale wallets (specifically 1,000-10,000 BTC holders) continue growing in number,” the platform said.

This development comes as BTC’s market value fluctuated between the $81,000 and $84,000 price range on Monday.

With large investors accumulating Bitcoin during volatility, it suggests that these holders are capitalizing on the recent market downturn in anticipation of future price rebounds.

Data from the on-chain platform shows that the quantity of BTC whale wallet addresses containing 1,000 BTC to 10,000 BTC has extended to 1993, reaching its highest level since December 2024.

Moreover, Santiment revealed an addition of 50 wallets over the past few weeks, which represents about a 2.6% growth.

Historically, large investors’ activity has influenced BTC’s price movements, increasing optimism about a shift toward the upside.

Should this trend persist at the $81,000 and $84,000 price range, it might provide a solid support zone for BTC, allowing the asset to gather momentum for a rebound in the short term.

As the market fluctuates, Santiment attributed the bearish development to several unfavorable factors. However, it may be seen as a small indication of confidence as one of the most significant stakeholder tiers in crypto has risen by +2.6% within the last 5 weeks.

BTC is gearing up for a rebound as crypto analyst Captain Faibik predicts that the asset could rally to its previous all-time high of $109,000.

According to the expert, BTC is expected to breakout of a 4-month Falling Wedge pattern to push the price back to the level.

Captain Faibik adds that the approaching end of the ongoing correction phase is a sign that Bitcoin is preparing for its next major move.

The analyst expects the rally to kick off in early April and reach $109,000 by the end of April. In the meantime, big players are accumulating Bitcoin while new investors await another price dip.