Bitcoin’s (BTC) price action remained muted as the flagship cryptocurrency registered a marginal decline, slipping below $85,000. Bitcoin whales are accumulating BTC at 3x of the daily mined supply. However, this has not led to a price breakout, with BTC facing multiple rejections around the $86,000 level. With markets relatively calm over the Easter weekend, analysts are wondering if the growing pace of accumulation could trigger the next breakout. Whales Accumulating Bitcoin Large institutional investors are purchasing Bitcoin at record levels, leading analysts to speculate the flagship cryptocurrency is on the verge of a price breakout. Market data indicates large holders are acquiring three times the daily BTC mined, with the price at a key level. Data from Glassnode reveals that investors with 100 to 1000 BTC are purchasing the cryptocurrency aggressively. Crypto exchanges are also witnessing a steady outflow of Bitcoin. This means that Bitcoin whales are putting their holdings into long-term storage instead of leaving them in their exchange wallets. Market watchers believe this BTC exodus is a sign of growing confidence in the asset. Bitcoin’s Mainstream Era Has Begun Bitwise Asset Management believes a monumental shift is underway in the crypto landscape. The firm’s newly released Corporate Bitcoin Adoption report for Q1 2025 has indicated growing institutional interest. The report reveals that public companies held 688,000 BTC in the first quarter, a 16.11% increase over the previous quarter and accounting for 3.28% of BTC’s 21 million supply. The total value of these holdings has also spiked, rising to $57 billion, while the number of companies holding BTC on their balance sheets grew to 79. A total of 95,431 BTC was purchased in Q1, making it the largest single-quarter acquisition of the asset to date. Bitwise CEO Hunter Horsley stated, “By the end of 2025, people are going to be surprised by how many famous tradfi institutions have crypto products and offerings. The work is underway. The mainstream era has started.” The growth and mainstream adoption coincide with favorable regulatory developments. Recently, the US Financial Accounting Standards Board’s decision to allow Bitcoin to be reported at fair value has enabled more transparent accounting, reducing risk for public firms. As a result, several firms have jumped on the Bitcoin bandwagon. GameStop is raising $1.5 billion to purchase Bitcoin, while Semler Scientific has also added the asset to the cryptocurrency. Metaplanet has also announced plans to acquire 10,000 BTC by the end of the year. The surge in interest suggests a maturing market poised for long-term integration. Bitwise Chief Investment Officer Matt Hougan stated, “We are no longer entitled to an ‘alt season.’ That concept arose in an era when the primary value of crypto was speculative. We’ve entered into the fundamental era of crypto, which means more dispersion in individual asset returns.” UK Firm Purchases $250M Bitcoin Crypto investors, whales, and institutions are increasing their Bitcoin holdings ahead of Easter after analysts predicted a quiet weekend with less volatility after weeks of uncertainty driven by escalating trade concerns. A wallet linked to London-based investment firm Abraxas Capital bought 2,949 BTC , worth over $250 million over the four days leading up to the Easter weekend. The latest transaction saw the firm purchase over $45 million worth of Bitcoin from Binance, according to crypto intelligence firm LookOnChain. The purchase comes shortly after Michael Saylor’s Strategy announced the purchase of $285 million worth of Bitcoin at an average price of $82,618 per BTC . Bitcoin (BTC) Price Analysis Despite the continuous accumulation by Bitcoin whales, analysts are hoping for a quiet Easter weekend for the flagship cryptocurrency. However, volatility concerns were raised due to significant movements from the medium-term Bitcoin cohort, which holds coins for an average of three to six months. According to CryptoQuant analyst Mignolet, over 170,000 BTC have entered circulation from the medium-term cohort. The analyst stated, “The effect of this metric on LTF moves is overstated as large on-chain movement of coins hardly ever affects weekend price action since it’s not on liquid markets or CEX markets. It is important to note that funding rates remain relatively flat currently. Moreover, US markets are closed as we have a long weekend for Easter, so volatility could be suppressed, barring headlines from the White House.” However, Marcin Kazmierczak, Chief Operating Officer of RedStone Oracles, believes recent BTC movements could be operational transfers and don’t suggest immediate selling pressure. BTC faces considerable resistance around the $86,000 mark, having been rejected several times. Despite the resistance at this level, the market has not faced a significant pullback, with the price holding firm above $80,000. However, the sideways price movement suggests strong investor uncertainty. Crypto analyst Daan Crypto provided insight into BTC’s current price action, identifying three barriers preventing a breakout. The first is a downward trend line formed by BTC’s consistent lower lows and lower highs as a marketwide correction took hold. Bitcoin bulls must break above this resistance to establish a reversal. Other crucial indicators are the 200-day EMA and the 200-day SMA. Despite BTC’s struggles to cross $85,000 - $86,000, the ultimate resistance sits at the $90,000-$91,000 price range, a level that served as key support during the bull cycle. If BTC can reclaim this level, it will return to the bullish trading zone. BTC registered considerable volatility towards the end of the previous week, rising over 8% on Wednesday to reclaim $80,000 and settle at $82,600. It lost momentum on Thursday, dropping almost 4% to $79,592, but reclaimed $80,000 on Friday after an increase of nearly 5% and settled at $83,370. Buyers retained control on Saturday, with the price registering a rise of 2.41% to $85,378. However, price action turned bearish on Sunday as BTC fell almost 2% to $83,776. The price was back in positive territory on Monday, rising 1.01% to $84,619. BTC raced to an intraday high of $86,533 but lost momentum after reaching this level and fell 1.08% to $83,701. Source: TradingView Buyers returned to the market on Wednesday as BTC registered a marginal increase and settled at $84,031. The price continued to push higher on Thursday, rising 1.11% to $84,962. Price action remained muted on Friday as BTC registered a marginal decline before increasing 0.61% on Saturday to reclaim $85,000 and settle at $85,033. The current session sees BTC down almost 1% and trading at $84,349. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.