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Bitcoin's Volatile Ride: Bulls Charge as Bears Stockpile

Coin WorldWednesday, Feb 19, 2025 7:42 am ET

1min read

Bitcoin's price has been volatile in recent days, with the cryptocurrency plummeting below $95,500 before recovering to its current level of $96,362. This price movement has brought BTC above the critical support point of $95.7k, which had been a crucial level throughout February. The coin's recent rally suggests that sellers are gaining momentum, as it has broken above the support range of $94k to $95.7k.

Since Donald Trump's inauguration, Bitcoin's price has been largely bearish. However, technical analysts are now predicting a strong reversal pattern for the cryptocurrency, with a double top around $108k and a strong divergence of the weekly RSI visible. This suggests that Bitcoin's price may see a significant increase in the coming weeks.

CryptoQuant experts have offered a different perspective, suggesting that Bitcoin's price may not grow higher and could instead remain within a support range of $91k to $95k. This range is significant because it is where the 111-day moving average of $95k converges with the price at which STH either realizes profit or losses.

Despite the potential for a price increase, whale investors have been largely absent from the market. In 2025, there were two major whale purchases of Bitcoin, but 2024 was a much better year for the cryptocurrency. ConGlass data shows that the amount of supply on centralized exchanges is stockpiling every day, which is an indication of an explosive bearish trend. Currently, there is 54k Bitcoin in CEXes.

CoinSpeaker experts attribute the poor performance of spot BTC ETFs as a reason for the stockpiling of Bitcoin on centralized exchanges. Meanwhile, Blackrock's IBIT has been accumulating mild quantities of the cryptocurrency, and MicroStrategy has announced plans to buy more than 7k coins as part of a $2 billion offering plan.

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