Bitcoin (BTC) Price Shows Strong Upward Momentum, Pushing Toward the $90,000 Mark

Bitcoin (BTC) has shown strong upward momentum in recent days, pushing toward the $90,000 mark as whale activity and institutional interest intensify.

Bitcoin (BTC) showed strong upward momentum in recent days, pushing toward the $90,000 mark as whale activity and institutional interest intensified.

Bitcoin had its best weekly performance in over two months, rising 4.24% to reach an intra-day high of $88,804.

Market watchers noted that this puts the leading cryptocurrency on a path to test the $90,000 threshold.

Technical indicators supported the bullish outlook. BTC reclaimed a position above the daily chart’s 200-day exponential moving average (EMA). A weekly close above $84,600 also increased the likelihood of further gains.

Healthy Consolidation

Researcher Axel Adler Jr. suggested that the current price action represents healthy consolidation rather than the beginning of a bear market. According to his analysis of onchain metrics, Bitcoin had not yet entered “overheated” territory in this cycle.

Adler noted that Bitcoin’s Investor Price Model, which flashed sell signals twice during 2021, remains positive now. Using Bitcoin’s cumulative value days destroyed (CVDD), he argued that the market remains in a growth stage.

Based on these metrics, Adler projects that Bitcoin could climb to $130,000 within 90 days. He does note that seasoned investors might take profits once Bitcoin breaches $123,000, potentially putting downward pressure on the price.

According to data from Velo, Bitcoin’s open interest shot up by over $1.5 billion in a 24-hour period, indicating growing participation in futures markets.

However, despite this surge in open interest, funding rates remained nearly neutral. This suggests that neither bullish nor bearish traders had taken dominant positions in the market.

One major Bitcoin whale purchased 2,400 BTC, valued at approximately $200 million, according to Arkham Intelligence. This brings the whale’s total Bitcoin holdings to over 15,000 BTC, amounting to more than $1.3 billion.

This marks a shift in behavior for the whale, who had been selling Bitcoin throughout 2024 as the market fluctuated between the $100,000 and $86,000 levels.

Another previously dormant whale, inactive since 2017, moved 3,000 BTC valued at $250 million on March 22, 2025. Often, such movements by long-term holders precede shifts in the market trend.

Institutional Interest Surges

Institutional interest continues to grow. BlackRock (NYSE:BLK), the world’s largest asset manager overseeing $11.6 trillion, acquired 4,054 BTC in just seven days. Their total position now stands at approximately 574,000 BTC, worth more than $50 billion.

From a technical standpoint, Bitcoin is currently testing the upper Bollinger Band alongside a descending resistance line. The price is also oscillating within an ascending channel, suggesting potential for a short-term correction to the $86,000-$87,000 range before breaking through $90,000.

It's worth noting that weekend price rallies, like the one seen on Sunday, March 23rd, often occur with lower trading volume as larger market participants step back until weekdays. This can leave price movements heavily influenced by leveraged trades.

This persistent accumulation by whales and institutions is reducing available supply on exchanges, which is likely a factor in the recent 4% price spike. Overall, market sentiment remains optimistic as these large players signal their expectation of Bitcoin’s long-term value appreciation.