TLDR
- Bitcoin price recovered above $80,000 after dipping to $74,500, signaling renewed investor confidence
- Approximately $2.26 billion in Bitcoin options expired on April 11, with a balanced mix of bearish and bullish positions
- Whales and sharks have begun accumulating Bitcoin again, with 132 new wallets holding over 10 BTC added in 24 hours
- A massive $3.6 billion (48,575 BTC) moved into accumulation addresses—the largest such movement since 2022
- Market sentiment remains mixed due to external factors like Trump’s tariff policies, with overall cryptocurrency market capitalization dropping 2.9% to $2.664 trillion
Bitcoin (BTC) has staged a recovery above $80,000 after briefly dropping to $74,500, as large investors resume accumulation despite ongoing market uncertainty. The cryptocurrency faced pressure following President Trump’s tariff announcements but rebounded when those tariffs were paused for 90 days.
The price movement comes as $2.26 billion in Bitcoin options contracts expired on April 11, with traders showing divided sentiment about the market’s direction. The current price sits well below Bitcoin’s all-time high from earlier this year but shows resilience despite external economic pressures.
Bitcoin’s recovery appears to be driven by renewed confidence among large investors. Data from Santiment shows that wallets holding more than 10 BTC increased by 132 in just 24 hours, suggesting a positive shift in market sentiment. This accumulation pattern indicates that larger investors are viewing the recent price dip as a buying opportunity.
Whale Activity Signals Growing Confidence
One of the most telling signs of market confidence comes from whale movements tracked by CryptoQuant. A massive transfer of 48,575 BTC, worth approximately $3.6 billion, moved into accumulation addresses. This represents the largest whale movement since 2022 and may signal institutional confidence in Bitcoin’s long-term prospects.
Such large-scale accumulation often precedes price movements as supply decreases relative to demand. The quick recovery above $80,000 after the dip to $74,500 shows buyers stepping in at lower price levels to acquire more Bitcoin.
The current price action is taking place against a backdrop of mixed technical indicators. While the Ichimoku cloud is approaching a bearish crossover, the Relative Strength Index (RSI) appears to be forming a bullish divergence after dropping below average levels.
Market analysts suggest that maintaining levels above $81,500 is crucial for continuing the bullish trend. A weekly close above this level could invalidate potential bearish scenarios and set the stage for further upside.
Analyst Trader Edge suggests that Bitcoin is trading in a bullish falling wedge pattern. The more times a trendline is tested, the weaker it becomes. Although he does not rule out another test of the lows before a potential breakout.
Bitcoin $BTC
The more a trendline is tested, the weaker it becomes
Not ruling out another sweep of the lows before a potential breakout pic.twitter.com/77ohIQ3MOT
— Trader Edge (@Pro_Trader_Edge) April 11, 2025
Options Market Reveals Split Sentiment
The options market provides another window into trader sentiment, with approximately 28,000 Bitcoin options contracts expiring on April 11. The put/call ratio stood at 0.88, indicating a relatively balanced mix of bearish and bullish positions.
The max pain point for these options was $81,500, the price level at which the maximum number of options contracts would expire worthless. High open interest at both the $70,000 and $100,000 strike prices suggests traders are preparing for both scenarios—further decline or continued recovery.
Traders are closely watching the $85,000 level as a short-term target, while the $100,000 mark continues to act as long-term resistance. Despite recent gains, there remains skepticism about whether the current momentum can be sustained.
Along with Bitcoin, about 184,000 Ethereum options contracts also expired on April 11, with a notional value of roughly $280 million. Ethereum’s implied volatility remains higher than Bitcoin’s, holding near 80% for short to mid-term contracts compared to Bitcoin’s 50%.
External factors continue to influence the cryptocurrency market. Bitcoin fell to a five-month low before partially recovering after the Trump administration’s announcement of a 90-day pause on new tariffs.
Some market participants noted unusual trading behavior just before the tariff news broke. Data provider Greeks Live reported large purchases in the $75,000 to $77,500 range immediately preceding the announcement, raising questions about market transparency.
The broader cryptocurrency market remains under pressure. The total market capitalization dropped by 2.9% to $2.664 trillion in the 24 hours leading up to April 11. Bitcoin still sits approximately 26% below its all-time high set earlier this year.
Ethereum has fallen 4% to $1,540, while most other major altcoins showed small gains, with the exceptions of Cardano (ADA), Avalanche (AVAX), and Hedera (HBAR). Lower sentiment and liquidity continue to affect price stability across the cryptocurrency market.
For Bitcoin specifically, the weekly price action suggests an approaching decisive phase. Analysts believe a bullish close above $81,500 is extremely important to counter bearish possibilities.
The current market represents a clear division between traders awaiting further decline and those positioning for price recovery. This split sentiment often precedes larger price movements as the market eventually breaks in one direction.
Despite recent volatility, the accumulation patterns from large investors may provide a foundation for future price stability. The continued interest from whales and institutional investors suggests long-term confidence regardless of short-term price fluctuations.
Bitcoin’s rebound from recent lows demonstrates resilience in the face of external economic pressure. As traders navigate the complex market environment, the coming weeks will be crucial in determining whether the recovery holds or if further consolidation is needed.
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