In April, the accumulation of Bitcoin by large holders, referred to as whales, surged significantly despite a slump in Bitcoin's price. New data indicates that over 60 wallets holding more than 1,000 Bitcoin were created, marking an increase in whale activity as the number of such wallets rose to a four-month high of 2,107 by April 15. This trend reflects behaviors reminiscent of past market surges following significant events like the 2016 U.S. Presidential election. Additionally, addresses with over 100 Bitcoin have also grown to 18,026, while those with less than 10 coins have declined. On April 18, it was reported that whale holdings exceeded 300% of the annual issuance, suggesting strong dip-buying tendencies among those holding over 10,000 coins. As of April 21, Bitcoin's price had risen by more than $3,000, signaling a potential bullish reversal after breaking out of a previous downward trend, with analysts speculating a return to six figures shortly. These developments indicate a possible shift in market momentum largely driven by whale accumulation strategies.

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