Introduction
Bitcoin [BTC] has reclaimed a major psychological and technical milestone, rallying to $94,700 and crossing above the short-term holder (STH) cost basis. That shift is more than symbolic; it’s a potential catalyst for a new wave of bullish momentum.
The recovery follows a steep 13% drop in Q1, driven largely by February’s 18% sell-off that dragged Bitcoin to a low of $77,000. But behind the scenes, large investors continued to accumulate, building the foundation for a strong reversal.
Bitcoin Rally Fueled by Whale Accumulation and Liquidations
March’s market correction triggered a wave of capitulation among short-term holders, with realized losses surging as panic took hold. But that same period saw an influx of whale activity—capital inflows driven by macro uncertainty and shifting risk strategies.
This strategic buying helped Bitcoin break through major supply zones, forcing a liquidation cascade among overleveraged traders. The result? A strong reversal that has now pushed BTC 14% higher from its March close and restored bullish sentiment to the market.
$94K Reclaimed as Market Sentiment Turns
The turning point came on April 22, when Bitcoin surged by 6.82% in a single day to close at $93,489. This breakout reclaimed an overhead resistance level that had gone untested for over a month. With BTC now trading above its realized price for STHs, many short-term investors are back in profit—and that’s shifting the psychology of the market.
When short-term holders re-enter profitability, it typically sparks confidence, reduces selling pressure, and increases the odds of continued price appreciation.
On-Chain Activity Confirms Bullish Follow-Through
Reinforcing this narrative is the fact that April 22 saw a notable spike in buying activity. At $93,986, over 11,700 BTC changed hands—marking the highest daily buying volume in the month. At the same time, outflows into private wallets surged, suggesting long-term conviction is strengthening.
All signs now point to a bullish market structure: STHs are in the green, whales are active, and price levels once seen as resistance have been flipped into support. As AMBCrypto noted, this could open the path for Bitcoin to push toward its next target—potentially the highly anticipated $100K mark.
Conclusion: A Bitcoin Bullish Breakout or a Temporary Peak?
Bitcoin’s recent rebound marks a significant technical and psychological shift. With short-term holders back in the green and whale demand driving momentum, the path ahead appears tilted toward further upside.
Still, the coming weeks will test whether this breakout has staying power. If buying pressure holds and key support levels are defended, the next major test lies at the $100K mark. What was once a distant dream may now be within reach—if the bulls can keep their grip.
