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Bitcoin Price Surges Past $104K As Institutional Buying Rises
By: the market periodical|2025/05/16 07:45:05
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Key Insights:Spot market buying pressure surges, flipping key Glassnode index.Large holders intensify accumulation, smaller wallets reduce exposure.Market structure shows a breakout phase following recent manipulation.Bitcoin price momentum strengthened notably over the past week, briefly climbing from below $96,000 to exceed $104,000. The sharp upward movement marked the highest level observed since mid-April.After reaching its peak, BTC price action showed some volatility but stayed largely above $102,000, indicating a stable support base. Despite the upward trend, recent on-chain data reveals a deeper complexity in the Bitcoin market.Institutional accumulation, net buying pressure, and market structure shifts are crucial. These factors shape the market beyond what price movements alone suggest.Bitcoin Spot Volume Surge and Institutional AccumulationA recent update from Glassnode shows that the Spot Volume Delta 7-day SMA, a key Bitcoin index, has flipped positive. It reached a local peak of $5 billion on May 13.This metric measures the difference between spot market buy and sell volumes across major exchanges. It turned positive for the first time in several weeks. The surge indicates significant net buying pressure, signaling strong spot market activity.Spot Volume Delta | Source: GlassnodeNotably, Glassnode stated that the move above $100,000 has been supported by absolute market conviction rather than speculative derivatives. The Spot Volume Delta has flipped positive only a few times this year. Each instance has aligned with significant Bitcoin price movements.This indicates strong buyer demand in the Bitcoin market. However, similar historical patterns have occasionally led to sharp corrections due to fear-of-missing-out behavior.According to other on-chain data, this rise in spot volume has been accompanied by sustained accumulation by larger investors.Institutional Accumulation at Elevated PricesBitcoin Accumulation Trend Score chart, published by Glassnode, highlights strong buying activity. Analyst Ali Martinez shared that high-net-worth investors have accumulated significantly. This trend has continued throughout May 2025.This chart tracks Bitcoin’s price alongside a heatmap score ranging from 0 to 1. Scores closer to 1 reflect intensive accumulation by large holders, while lower values indicate weak accumulation or distribution.Bitcoin Accumulation Trend Score | Source: XBy May 13, BTC price had reached $104,155.31, and the accumulation trend score recorded a high of 0.976876. This level signals substantial accumulation activity, even at elevated prices.Dark purple zones on the chart, indicating accumulation by larger entities, suggest consistent buying pressure from institutional investors or long-term holders.The data from Santiment supports this on-chain pattern. Large Bitcoin holders with wallets containing between 10 and 10,000 BTC collectively purchased 83,105 Bitcoins in the past 30 days. This significant accumulation highlights strong investor confidence in the market.Source: XThe combined value of these purchases totals about $8.65 Billion. Smaller wallets holding less than 0.1 BTC sold 387 BTC during the same period. This suggests profit-taking behavior by retail investors amid a larger accumulation trend.However, Santiment also identified what could be the key catalyst: a recent freeze on the trade tariff between the U.S. and China. This geopolitical event could have decreased uncertainty, providing for increased accumulation and a possible move towards $110,000.Price Structure Indicates More Expansion.As demand and accumulation increase, analyst Jelle analyzed a lower-timeframe chart. His findings highlight a “Power of Three” price structure commonly used to track smart money movements. This structure helps outline accumulation trends and market growth.Bitcoin Price Prediction | Source: XAccording to the chart, between May 9 and May 12, Bitcoin traded within a narrow consolidation range. This accumulation phase was followed by a sharp drop on May 13, representing the manipulation stage.It is a temporary move below prior support levels designed to create liquidity. This was succeeded by a rapid reversal and a break above the previous range, initiating the expansion phase.The post-manipulation breakout saw Bitcoin reclaim the $104,000 level, continuing its upward momentum. Jelle’s chart outlines a target area near $112,000 if the expansion phase continues.Bitcoin could be entering a new phase of price discovery. It may reach levels that have not been seen in the current cycle.DisclaimerIn this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.godfrey mwirigiThe post Bitcoin Price Surges Past $104K As Institutional Buying Rises appeared first on The Market Periodical.
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