PANews reported on April 19, according to Cointelegraph, Glassnode data indicates that Bitcoin whales are still in a strong accumulation zone. Large holders possessing 100-1,000 or more Bitcoins (whales and sharks) are absorbing Bitcoin at the fastest rate in history, with the group's absorption now exceeding 300% of Bitcoin's annual issuance. Meanwhile, the amount of Bitcoin held on exchanges continues to decline, with the annual absorption rate dropping to -200%, indicating that investors prefer long-term holding or self-custody.

In addition, addresses holding more than 10,000 BTC have a trend accumulation score of approximately 0.7, suggesting a strong accumulation state. Technical analysis shows that Bitcoin has broken through a months-long descending wedge pattern. If the current trend continues, the price could surpass $100,000 in May, with $88,800 being the key resistance level to reversing the market structure. If it fails to breach, bulls may struggle to maintain strong momentum.