Bitcoin whales are currently absorbing over 300% of the newly mined BTC supply, signifying a notable trend in accumulation. As Bitcoin exchanges experience significant outflows, the preference for self-custody among larger holders is evident. The Yearly Absorption Rates data from Glassnode show that larger holders, particularly those with 100-1,000+ BTC, are accumulating at unprecedented rates. Conversely, smaller cohorts of Bitcoin holders seem to be stabilizing after earlier sell-offs. Recent technical analysis indicates that Bitcoin has broken out of a falling wedge pattern, suggesting a potential price surge towards $100,000 by May. Current resistance levels around $85,300 and the 50-day and 200-day moving averages could impact the trajectory, with analysts noting that robust buying behavior is necessary to sustain upward momentum. This accumulation trend among Bitcoin whales mirrors previous market movements that led to bull runs, implying a growing conviction in Bitcoin's value as institutions begin embracing it more widely.

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