Bitcoin Eyes $88K Target as Bullish Momentum Builds
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As Bitcoin continues to hover above the $72,000 mark, an increase in whale activity is prompting traders to set their sights on the $88,000 supply zone. This shift in market sentiment indicates a significant bullish trend that could unfold in the near future.
Bitcoin’s current momentum resembles a similar breakout scenario observed in Q2 2025, positioning it for a potential surge towards the $86,000 to $90,000 range during the forthcoming weeks. The market’s positive outlook is underpinned by intensified trading volume among large holders and a noticeable decline of $5 billion in Bitcoin inflows to exchanges over the last two months.
Recently, Bitcoin peaked at $73,255, having tested the $72,000 level earlier in the week. For four consecutive days, the cryptocurrency has maintained its position within the $70,000 to $72,000 range, demonstrating a more stable trajectory than experienced in March, when a rapid correction followed after reaching similar levels.
The convergence of the 30-day rolling volume-weighted average price and the 50-day moving average below the current price has formed a robust support base. The upper limit of this support is pegged at $76,000, which represents the boundary of a 64-day sideways trading phase. A breakthrough beyond this point could signify a crucial shift, potentially erasing the psychological barriers that have impeded price rallies in recent months.
Looking back at Q2 2025, a comparable structure emerged following a lengthy period of price compression below the moving averages. Once the price broke through the descending trendline, it surged rapidly, leading to an expansion towards the next supply zone.
Current market setups appear to reflect this past pattern, with significant liquidity gathering between the $86,000 and $90,000 range. This suggests that once the bearish trendline is breached, there will be a clear pathway for further price appreciation.
Cryptocurrency analyst Amr Taha has identified that Bitcoin inflows from whales to exchanges have dwindled to $2.96 billion, marking the first time below the $3 billion threshold since June 2025. This reduction in inflows diminishes immediate selling pressure on exchanges and stands in contrast to earlier figures that soared to $8 billion in February.
Moreover, a renewed accumulation phase has emerged, evidenced by a long-term holder realized cap change reaching $49 billion on April 9. Taha noted a movement of supply from weaker hands to stronger participants, indicating steady absorption rather than aggressive offloading.
Supporting this trend, trades involving whale-sized orders ranging from $1 million to $10 million have pushed the spot cumulative volume delta above $600 million. This trend aligns with the observed stabilization of Bitcoin prices over $70,000, with the $76,000 mark acting as a crucial trigger point while the liquidity zone between $86,000 and $90,000 remains a focal point for traders.
In conclusion, as the technical indicators and market dynamics suggest bullish momentum for Bitcoin, traders are poised for potential rallies that could lead to significant price targets in the coming weeks. The ongoing absorption of supply by stronger hands further reinforces this optimistic outlook.
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Raj Patel
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