- Bitcoin’s wallet growth shows rising adoption as 50,000 new wallets emerge, despite mild profit-taking by large holders.
- Retail investors drive accumulation, with wallets under 100 BTC increasing, while whales secure profits, adding market volatility.
- Bitcoin tests $92K resistance, facing strong rejection near $94,382.55; a breakout could lead higher, but pullbacks remain possible.
Bitcoin’s price action is extremely volatile as it fluctuates above $90,000. Bitcoin’s network has added 50,000 new wallets in the past month. This shows growing adoption and retail participation. Large holders show weak signs of profit-taking, which slightly temper the bullish fervor.
The number of wallets holding at least 100 BTC decreased by six, suggesting minor redistribution. Meanwhile, mid-sized and small wallets increased, indicating accumulation by new and existing investors.
Source: Santiment
Retail Investors Show Strong Interest
There were 37,390 more wallets with less than 0.1 BTC. Wallets containing between 0.1 and 100 BTC also increased by 12,754. This rise indicates that smaller investors are becoming more confident. The drop in big wallets, however, suggests that some whales are making money. The price of Bitcoin closed at $90,115.67 on March 5, 2025, after ranging between $87,690.99 and $90,768.63. The continuous conflict between buyers and sellers is reflected in these swings.
With Bitcoin getting closer to resistance levels, market volatility is still considerable. Liquidity and distribution across various investment categories improve by the ongoing strengthening of retail involvement. Despite minor profit-taking, overall network expansion remains bullish. The growing number of mid-tier wallets suggests long-term accumulation.
Bitcoin Tests Resistance Amid Volatility
Bitcoin’s price is now testing the $92,000 resistance level. Strong buying interest is evident near key support zones. The market recently saw a sharp drop before recovering from the $86,000-$88,000 demand zone. A deeper liquidity zone exists between $78,000 and $80,000, where previous buying activity occurred.
Source: Crypto Fella
Currently, Bitcoin trades at $91,494.20, up by $147.72 (+0.16%). A strong price rejection near $94,382.55 indicates that resistance remains a challenge. The price structure suggests Bitcoin is in a recovery phase. If it breaks above $92,000, a retest of $94,382.55 could follow. However, if rejection occurs, a pullback toward the $88,000-$86,000 range is possible.
