Whales accumulated more than 43,100 Bitcoin (BTC), worth nearly $ 4 billion, over the past two weeks, according to data shared by Ali Martinez. This advances in handling carries the total whale balance to more than 3.54 million BTC, from 3.498 million BTC to mid -April.
The timing is remarkable: Bitcoin reclaimed the strength in April, currently trading below $ 94,100 after a strong rebound from sub- $ 80K levels earlier in the month.
Bitcoin ETF spots continue to attract capital despite macro uncertainty. The nine-day stretch from April 21 to April 29 saw a constant flow of more than $ 4 billion, led by IBIT and EZBC.
April 23–24 only formed $ 1.36 billion, showing an ongoing appetite at US institutions. While GBTC's flows remain a drag, the Net ETF demand continues to support the BTC price floor near the current levels.
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Derivatives send mix -all signs in the middle of a higher quantity
The volume of bitcoin's derivatives jumped 17% in the last 24 hours to $ 91.5 billion, but the open interest sank slightly by 1.68%. Long/short ratios throughout Binance and OKX show an almost neutral bias, just under 1.0, suggesting entrepreneurs remain careful near local highs.
Interestingly, the leading businessman who positioned Binance remains skipping, and the extermination data shows more than $ 77 million in 24-hour reC positions, especially short.
Smart Money loads, but momentum requires confirmation
The whales are clearly buying convincing, and the ETF flows into the narrative of strong institutional support. But the flattening of open interest and careful leverage metrics that that momentum is not guaranteed.
Bitcoin may need another catalyst – or a clean break above $ 95k – to unlock the next leg. Until then, the market appears to be coiling as hoping for a decisive move, with derivatives data showing traders who care more than just thinking. If the flowers continue and the volatility returns, the BTC may be able to gauge up for another push towards six numbers.
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