Bitcoin Hits $94K as Whales Signal Bull Market With Massive Accumulation

Bitcoin rebounds to $94K, driven by massive whale accumulation and record outflows from exchanges—analysts say a new bull phase may be taking shape.

April 25, 2025 – Bitcoin has surged back with strength, climbing to $94,000 after dipping below $75,000 earlier this month. The comeback is being led not just by retail momentum, but by powerful market players—whales—who appear to be strategically accumulating large Bitcoin positions.

🐋 Whales Return With Force

According to data from CryptoQuant, the recent trend in whale activity is significant. There’s been a record-breaking outflow of BTC from centralized exchanges, measured against the 100-day moving average. This marks the highest level of BTC withdrawal in two years—a sign that investors are shifting coins to cold storage rather than leaving them exposed to trading risks.

“This level of exchange outflow usually signals strong long-term conviction,” analysts at CryptoQuant noted.

The withdrawals suggest renewed confidence in Bitcoin’s price trajectory, especially among high-net-worth individuals and institutions.

📈 Accumulation Scores Reveal Key Patterns

The Glassnode Accumulation Trend Score—a metric that gauges how actively entities are acquiring BTC—has become a focal point in interpreting the rally.

• Wallets holding 10,000+ BTC have scored 0.90, indicating near-maximum accumulation.
• Wallets with 1,000–10,000 BTC scored 0.70, still signaling strong buying interest.
• Even smaller holders are becoming more active, recording a score of 0.50—a notable jump from recent months.

This convergence across cohorts suggests a market-wide belief that Bitcoin is poised for sustained growth.

🔍 Analysts See Historical Echoes

Experts are now drawing parallels with early bull cycles, where massive outflows from exchanges preceded major market expansions. Both institutional and private investors appear to be in a re-accumulation phase, one that could potentially send Bitcoin toward fresh all-time highs.

“We’re seeing a return of confidence from deep-pocketed players,” Glassnode wrote on X. “This rally isn’t just hype—it’s supported by real on-chain activity.”

The rally also comes amid renewed optimism over monetary policy shifts and global adoption, with speculation swirling around further ETF inflows and sovereign interest.

With whales back in control and accumulation hitting peak strength, the sentiment across the board points to a new bullish phase—one that could redefine market expectations for the rest of 2025.

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