Bitcoin News Today: Spot Bitcoin ETFs Power Rally as Whales Re-enter Accumulation Mode

Bitcoin's recent price action has sparked renewed optimism among investors, with technical indicators and on-chain data suggesting a potential early shift in sentiment. A delta chart showing increasing bullish momentum-evidenced by a green histogram expanding above the zero line-has drawn attention to the $80,000 psychological level as a key focal point for traders according to technical analysis. While Bitcoin remains under pressure from downward-sloping exponential moving averages (EMAs), including the 50-day EMA at $100,937 and the 200-day EMA at $105,515, analysts are monitoring whether the asset can reclaim these levels as support to sustain a rebound.

The recovery has been bolstered by spot Bitcoin ETF activity, particularly BlackRock's iShares Bitcoin Trust ETF (IBIT), which saw holders return to a cumulative profit of $3.2 billion as the price climbed above $90,000. This marks a significant turnaround for ETF investors, who had faced losses totaling $630 million just days prior. The inflows into spot Bitcoin ETFs-according to Standard Chartered's Geoff Kendrick, $21 million in cumulative inflows on Wednesday-have become a primary driver of Bitcoin's momentum. Meanwhile, BlackRock's ETF remains the only fund with net positive inflows for 2025, underscoring its influence in the market.

On-chain activity also signals a shift in whale behavior. Large holders-those with over 10,000 BTC-have turned net accumulators for the first time since August, with an accumulation trend score of 0.8. This aligns with the $82,000 cost basis of U.S. spot ETFs, suggesting the market views the $80,000 region as a fair value. Retail investors have shown their strongest accumulation since July, further reinforcing the notion of a potential bottoming process.

Technical indicators like the whale vs. retail delta and taker cumulative volume delta (CVD) add to the bullish narrative. The whale vs. retail delta has surged to historically high levels, mirroring patterns observed during Bitcoin's 2024 bottom near $75,000. Simultaneously, the CVD has edged back to neutral from negative territory, signaling a "significant step forward" in spot market recovery. These metrics suggest that speculative positions are being flushed out, with capital shifting toward the spot market for more sustainable growth.

However, challenges remain. Ethereum and XRP have shown mixed signals, with Ethereum grappling with Death Cross patterns and XRP facing resistance at $2.30. Solana's price struggles-stalling at $145 amid declining total value locked (TVL) and negative ETF flows-highlight broader market fragility. Compounding these issues, the Upbit hack, which resulted in a $36 million theft from a Solana hot wallet, has introduced fresh uncertainty.

Looking ahead, the market's focus is on Bitcoin's ability to break above the $93,000 resistance level-the 2025 yearly opening price-and test the $100,000 milestone. Traders have identified the $97,000–$98,000 range as a critical liquidity pocket, with consistent sell-offs creating a buildup of potential upside targets. While a retest of $88,000 is possible, according to analysts like Michaël van de Poppe, the overall crypto bull cycle remains intact, who emphasize that "the cycle is far from over".