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▲ Bitcoin (BTC) Rise/AI Generated Image
U.S. President Donald Trump's sudden diplomatic moves and the easing of tensions in the Middle East have injected a powerful tailwind into the market, leading to an unprecedented V-shaped recovery in stocks and virtual assets. Simultaneously, an unprecedented accumulation spree by Bitcoin (BTC) whales has been detected.
Cryptocurrency analyst Lark Davis analyzed in a video uploaded to his YouTube channel on April 17 (local time) that risk appetite is reviving after U.S. President Donald Trump hinted at a possible extension of the ceasefire with Iran. Trump announced that Iran had agreed to deliver its supply of enriched uranium. Expectations of the reopening of the Strait of Hormuz are alleviating instability in the global energy market. Davis diagnosed that the market is front-running an optimistic future, with major indices showing record rebounds.
In the Bitcoin market, whales holding massive capital have accumulated 270,000 BTC over the past 30 days, marking the largest buying offensive since 2013. Bitcoin holdings on exchanges have fallen to their lowest level since December 2017. As the circulating supply rapidly decreases, price upward pressure is intensifying. With major investors like Michael Saylor of Strategy accelerating their accumulation, Bitcoin's fundamentals have secured a solid support base.
Technical analysis indicates that Bitcoin has set $77,000 as a short-term profit-taking target. It is currently attempting to reclaim the upper channel boundary of $78,000. Solana (SOL) has also broken out of an ascending wedge pattern. It has successfully retested near its 50-day moving average of $87.4. It is expected to continue its upward rally to the $98 mark soon. Despite some pessimistic outlooks, Davis is confident that current on-chain data and chart trends are clear bullish signals.
Large Wall Street financial institutions are also accelerating their entry into the virtual asset market, leading the wave of mainstream adoption. Morgan Stanley attracted over $100 million in its first week of launching a Bitcoin spot ETF, leveraging its low 0.14% fee. Charles Schwab is also preparing to launch direct trading services. The full participation of institutions with over 200 years of history, including NYSE Arca, serves as a decisive catalyst for increasing market confidence.
Positive signals continue in altcoins and individual stock sectors. Pepe (PEPE) has broken through its downtrend line and is poised to record higher returns against Ethereum (ETH). It has an upside potential of approximately 600% if it reclaims its previous high. Oracle has broken through its 20-week moving average, beginning a new all-time high streak. AMD has secured $266 as a support level. It has completed a cup and handle pattern towards a target price of $335, poised for a significant surge.
*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*
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