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Bitcoin Gains Momentum as Whales Accumulate

Bitcoin Gains Momentum as Whales Accumulate

Abby Richards • May 19, 2025

Key Takeaways

Bitcoin is showing signs of a potential price rally.
Large investors (whales) are accumulating BTC – no selling pressure is visible.
Exchange reserves are dropping to record lows – supply on trading platforms is decreasing.
Options markets indicate bullish expectations.
The realized price of 3–6 month holders has been reclaimed – historically a precursor to price increases.

Declining Reserves on Crypto Exchanges

A key signal for a potential Bitcoin rally is the decline of BTC reserves on centralized exchanges. When fewer coins are held on trading platforms, it means there is less selling pressure. Currently, reserves are at levels last seen in August 2018. This suggests that many investors intend to hold their coins long-term – a bullish sign.

Whales Betting on Rising Prices

On May 17, over 53,000 Bitcoin were accumulated by wallets holding more than 10,000 BTC. These so-called whales are considered “smart money” – investors with experience and market insight. Since August 2024, these wallets have consistently shown negative net flows, meaning they are not selling, but rather buying more. This suggests that a market top is unlikely in the near term.

Options Markets Showing Bullish Trends

Another indicator is the rise in call options. These financial instruments give the buyer the right to purchase Bitcoin at a specific price. An increase in call options indicates that many market participants expect prices to rise. Options markets thus reflect a positive outlook.

Short Sellers Holding Back

Analyses show that short sellers are acting much more cautiously in 2025 compared to 2021. There have been few major long squeezes recently – situations where many long positions are liquidated simultaneously. This indicates that bears are being restrained, which can be interpreted as an indirect bullish signal.

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Realized Price as Dynamic Support

The so-called realized price represents the average purchase price of all coins held by a specific group of holders. Bitcoin recently reclaimed the realized price for 3–6 month holders – currently around $98,800 USD. In the past – for example, in October 2023 and October 2024 – this signal was followed by strong price rallies. The area around $98,800 USD could now serve as dynamic support.

Bitcoin Dominance Remains Strong

Although altcoins have outperformed in the short term, Bitcoin remains the driving force of the market. Bitcoin dominance (BTC.D), or Bitcoin’s market share of the total crypto market, continues to trend upward. This suggests that capital is flowing more into Bitcoin than into alternative cryptocurrencies.

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Our Assessment

Current market data provides several indications of a potential upcoming Bitcoin rally. Declining exchange reserves, strong accumulation by whales, bullish signals from the options market, and the reclaiming of the realized price all point to a continuation of the upward trend. While there is no guarantee of rising prices, both fundamental and technical indicators paint a clear picture: the market is currently on the side of the bulls. If you are invested in Bitcoin or planning to enter, it’s worth keeping a close eye on the market in the coming weeks.

Sources

CryptoQuant
X (formerly Twitter) – Analysis by Axel Adler Jr
CryptoQuant Insights – Contribution by user Shayan

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Profile Bitcoin
Symbol	BTC
Coin type	Alt Coin
Transaction Speed	Slow
Pros	First cryptocurrency, therefore very widespread Largest selection of casinos among the coins Many BTC based bonus offers
Cons	Fairly low transaction speed
Further practical applications
Price	103016
24h %	-0.57 %
7d %	-1.31 %
30d %	21.30 %
60d %	20.09 %
1y %	53.65 %
Market Cap	$2,046,064,401,805.00
Max. Supply	21,000,000.00
Official Links	Website \| Whitepaper \| Source Code
Socials	Reddit \| X \| Message Board