Bitcoin at $82,905 records an intraday pullback of 0.86%. This marks an end to the two-day recovery run.
Failing to reach the 200-day EMI line, the short-term pullback warns of another retest to the $76,700 support zone. Will BTC price manage to overcome the sudden surge in selling pressure? Let’s find out.
Bitcoin Nears Record-Breaking Number of Non-Empty Wallets
As BTC price fluctuates near the $83,000 mark, Santiment notes the total amount of BTC holders has exceeded the 54.71 million mark. This is within 0.018% of the all-time high, nearly 54.72 million, marked on January 19, 2025.
???? Bitcoin's total amount of holders (non-empty wallets) has exceeded 54.71M, which is within 0.018% of the all-time high (~54.72M) established on January 19, 2025. This is partially due to $BTC network growth, and larger wallets splitting into smaller ones. But this does… pic.twitter.com/DW1BP1Ns1a
— Santiment (@santimentfeed) March 13, 2025
The sudden surge in the total amount of BTC holders is partially due to the overall network curve and larger wallets splitting into smaller ones. This fabricates an artificial growth in the number of BTC holders as per non-empty wallet addresses. However, it also indicates the growing expansion of the Bitcoin network.
Declining Whale Selling Pressure
Amid the growing number of Bitcoin non-empty wallet addresses, CryptoQuant highlights a potential downswing in the whale-selling pressure.
Binance's whale selling pressure ending?
“Currently, this ratio is declining, implying that Binance's whales are reducing their selling pressure… If this trend continues, it could help end the current correction.” – By @Darkfost_Coc
Full analysis ⤵️https://t.co/ma4i2oQCpD pic.twitter.com/EMmKOV0rHc
— CryptoQuant.com (@cryptoquant_com) March 12, 2025
In a recent post, the on-chain data platform highlights the BTC exchange-whale ratio over Binance, witnessing a potential decline. DarkFost, the CryptoQuant analyst, says
“Currently the ratio is declining, implying that Binance’s whales are reducing their selling pressure on Bitcoin.”
If this trend continues, the BTC price could witness a bullish comeback.
Ali Martinez Signals Minor Incoming Boost in Bitcoin
Suggesting the possibility of a bullish comeback, crypto analyst Ali Martinez signals a potential breakout rally coming in the BTC price. Pointing out an ascending triangle pattern in the BTC price trend, the analyst anticipates a breakout rally for a 9% surge.
#Bitcoin $BTC is consolidating within an ascending triangle. A breakout could lead to a 9% price move! pic.twitter.com/zr1BT2lnl1
— Ali (@ali_charts) March 13, 2025
Furthermore, the analyst highlights the expansion of global liquidity at a rapid pace. If the trend continues, a massive inflow will likely act as a tailwind to fuel the BTC prices.
Global liquidity is expanding fast! If past trends hold, #Bitcoin $BTC might catch up around mid-April. pic.twitter.com/1tLVIdkKZf
— Ali (@ali_charts) March 13, 2025
As per the analyst, the BTC price trend is likely to catch up around mid-April.
U.S. Bitcoin Spot ETFs Record First Inflow in Eight Days
Adding to the possibility of a bullish comeback in BTC, the U.S. spot Bitcoin ETFs recorded an inflow of $13.33 million on March 12. This ends the seven-day streak of consecutive outflowing days.
Ark and 21 shares witnessed the largest inflow on March 12, worth $82.60 million, followed by Grayscale Mini Trust recording $5.51 million. The four outflowing ETFs include BlackRock, Invesco, Grayscale BTC Trust, and Wisdomtree.
The rest of the six ETFs maintained a net zero flow. As in ETFs record minor Inflow, institutions holding a trend of growing inflows will likely fuel the next BTC rally.