The second week of April witnessed a slight slowdown in broader market selling pressure as several countries approached United States President Donald Trump to negotiate trade deals. Thus, the Bitcoin price showed its sustainability above the $75,000 to confirm the change in the market trend, the latest on-chain data shows a renewed interest from whales and sharks to accumulate more BTC. Will the renewed recovery push past the $100,000 barrier?
Key Stakeholders Accumulate BTC as Tariff Winds Shifts
On Wednesday, April 9, the Bitcoin price witnessed a sudden surge in buying pressure, which pushed the asset to $83,565. The buying pressure followed a social media post by Donald Trump that announced a 90-day pause in trade retaliation measures for 75+ countries and introduced a reduced reciprocal tariff of 10%.
Amid this move, Santiment reports a sharp uptick in Bitcoin wallets holding 10 or more BTC, with 132 new wallets added in just the past 24 hours—marking the highest growth since February 20th.
This spike in accumulation is seen as a strong signal of renewed confidence among deep-pocket investors, the crypto ecosystem’s most influential participants.
This development offers a “small glimmer of hope for bulls” and bolsters the BTC price for bottom formation.
Historically Support Sets BTC For Major Reversal
An analysis of Bitcoin’s weekly chart shows the prevailing correction trend has witnessed renewed buying pressure at the 50-day EMA slope. Theoretically, a correction to the 50-day slope is considered a healthy pullback for buyers to recuperate the exhausted bullish momentum.
The formation of a long-wick neutral candle at this dynamic support accentuates the buyer’s counterattack and opportunity for price reversal. As highlighted in the below chart, the BTC price shows a behavior of acquiring a bottom formation at a 50-day slope before initiating fresh recovery.
If history repeats, the coin price could bounce 4% and breach the resistance trendline of the flag pattern as a confirmation of a bullish recovery.
The post-breakout rally should high sufficient momentum to breach the $100,000 barrier and chase a fresh high.
