The cryptocurrency market is showing signs of recovery as the month comes to an end, with Bitcoin, the leading crypto asset, making a gradual but noticeable rise, reaching as high as $88,350.
This bullish trend signifies a stabilization in momentum. Just two weeks ago, Bitcoin was trading around $77,500 amid ongoing losses in the global cryptocurrency market. However, bulls quickly rallied the asset after hitting a local low, demonstrating strong buying interest.
Significantly, data from Santiment reveals an increase in the number of wallets holding between 100 to 10,000 BTC. This development coincides with Bitcoin’s upward trajectory, suggesting that whale accumulation might indicate a resurgence in demand and a shift in positive sentiment.
In addition, Bitcoin miners have retained their assets without any major selling activities in the last 48 hours. Since February 26, 2025, the reserve held by Bitcoin miners has surged from under $84,000 on March 6th to $98,000 by March 26th. The ongoing accumulation trend is a positive signal for Bitcoin traders and investors, especially until whales begin to sell.
In the short term, the sentiment among Bitcoin enthusiasts remains optimistic, with market analysts setting their sights on a $90,000 price target for the ongoing bullish phase.
With significant resistance identified at $89,500 and a key resistance level around $90,000, a breakout could further extend this upward trend, potentially attracting new buyers. There is immediate support at $85,500, but if Bitcoin falls below the critical support level of $83,800, it may test the $82,500 support level. After recovering from weekly losses, Bitcoin is currently priced at $87,398.
