Bitcoin (BTC) Entered Q2 2025 with Bullish Momentum as Large Holders Intensified Their Buying Spree

Bitcoin (BTC) entered Q2 2025 with bullish momentum as large holders intensified their buying spree. The btc price traded around $84,000

Bitcoin (BTC) entered Q2 2025 with bullish momentum as large holders, also known as whales, intensified their buying spree. The cryptocurrency's price hovered around $84,000 on Apr. 18 despite macroeconomic concerns and weak U.S. manufacturing data. Analysts were now keeping an eye on $100,000 as the key psychological barrier.

BTC Price Targets $100K as Whale Accumulation Surges

Bitcoin whales were accumulating BTC at the fastest pace in years. According to Glassnode, large holders were absorbing over 300% of Bitcoin's yearly issuance. At the same time, exchanges were losing coins rapidly, with absorption rates falling below -200%.

This behavior mirrored trends seen ahead of Bitcoin's 2020 rally. On-chain analyst Mignolet highlighted that the largest wallet cohorts, especially those holding more than 10,000 BTC, remained in strong accumulation territory.

Their Trend Accumulation Score stood at 0.7, indicating sustained confidence.

Meanwhile, smaller holders that had been selling earlier this year were stabilizing. Cohorts with 10-100 BTC and 1-10 BTC holdings saw their scores return to neutral.

Falling Wedge Breakout Sets Stage for $100K BTC Price

Bitcoin's recent breakout from a descending wedge pattern had reignited bullish hopes among traders.

The pattern formed over several months and compressed price action between two falling trendlines. BTC price broke above the upper trendline in mid-Apr. bulls now targeted a 23.7% rally from the breakout point. This placed the projected upside target near $105,000.

The setup resembled classic wedge breakouts where the price rally equaled the wedge height added to the breakout level. Based on this rule, the target stood at $101,570 to $105,000, depending on entry.

The chart also showed Bitcoin struggling against key moving averages. The 50-day exponential moving average (EMA) sat at $85,329, while the 200-day EMA was at $85,006.

Both levels were pressing down on the price, which hovered around $84,495 on Apr. 18. Market analyst Scott Melker said that bulls needed to reclaim $88,804 to shift the structure back to bullish, and,

“The 200-day moving average remains overhead as resistance…Encouraging – but not convincing – yet.”

Support lay near $74,000, where previous consolidation zones could offer a cushion. If bulls failed to follow through, Bitcoin could revisit that range before making another move.

The chart confirmed that momentum was building, but resistance remained firm. BTC's ability to break above $88,804 would likely determine the rest of Q2.

Retail Missing as Technical Breakout Unfolded

Despite bullish signals, retail participation had yet to return. A crypto analyst Ali noted that past BTC tops coincided with a spike in retail activity.

The move from $70,000 to $110,000 lacked that frenzy, echoing the late 2021 setup.

However, technical analysts flagged a breakout from a falling wedge pattern on the daily BTC/USD chart.

The wedge-formed over multiple months, with price action compressing between two downward trendlines. The recent upside breakout now places Bitcoin's short-term target above $100,000.

Using standard wedge projection techniques, traders measure the pattern's maximum height and add it to the breakout point.

This method implies a potential target of roughly $101,570 in the coming weeks, provided price holds above critical support levels.

Federal Reserve Data Adds Short-Term Headwinds

On Apr. 17, the Philadelphia Federal Reserve Manufacturing Index reported the sharpest drop in activity since 2020.

All indicators—new orders, shipments, and overall activity—turned negative.

Felix Jauvin, a macro analyst at Blockworks, called the data a worst-case scenario for policymakers. "Economic activity is falling off a cliff, and prices are going up," he said.

Bitcoin, however, appeared more resilient to these macro shocks. Binance noted in an Apr. report that the asset held steady despite Trump's tariff announcements. The btc price dropped over 10% initially but recovered to trade flat.

Trump's Tariff Plans Weigh on Risk Appetite

U.S. President Donald Trump's proposed import tariffs are adding pressure on manufacturers. Although some levies were paused, the administration still plans sweeping duties on Chinese imports.

The result has spooked risk assets. While the S&P 500 dropped nearly 7