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Despite the recent turbulence in the financial seas and Bitcoin’s (BTC) plunge below the $82,000 mark, whales seem to be channeling their inner Dory from “Finding Nemo”—just keep buying, just keep buying. Even with Bitcoin recording a ten-day losing streak, the inflows into spot ETFs are on the rise, and those so-called “accumulation addresses” are bulking up like they’re prepping for a crypto winter.
Trump’s Tariff Tango Sends Shivers Through Markets
Bitcoin’s sudden nosedive coincides with a broader market correction. Investors are jittery over President Trump’s announcement of a 25% tariff on imported foreign-made cars starting April 2, dubbed “Liberation Day.” This move aims to encourage domestic car production but has left markets as nervous as a long-tailed cat in a room full of rocking chairs.
As a result, the S&P 500 is on track to end the quarter down 6.3%, while the Nasdaq and the Dow Jones are looking at losses of 8.1% and 5.2%, respectively. For Bitcoin, this could mark its weakest first quarter since 2018, making hodlers everywhere clutch their digital wallets a little tighter.
Volume Drought and Inflation Fears Add to the Woes
The downturn isn’t just about tariffs. A decline in spot trading volumes and a more cautious stance from futures market traders are adding to the gloom. Recent Personal Consumption Expenditures (PCE) inflation data came in hotter than expected, and consumer confidence has taken a hit, reaching new lows according to the Conference Board.
Recession Rumblings Grow Louder
Over at Goldman Sachs, the probability of a recession in the next 12 months has been bumped up from 20% to 35%. The bank points to a slowdown in economic momentum, souring sentiments among households and businesses, and signals from the White House that suggest a willingness to endure some economic pain to achieve policy goals.
Whales: The Unsinkable Molly Browns of Crypto
Despite the bearish vibes, institutional interest in Bitcoin remains as steadfast as ever. Michael Saylor, CEO of MicroStrategy, hinted at new acquisitions with his characteristic enthusiasm, sharing a chart that screams “buy the dip.”
Needs even more Orange.
Data from CryptoQuant reveals that inflows to “accumulation addresses”—wallets with a history of only buying and never selling—are on the uptick. It’s as if these big players see the current price slump as a Black Friday sale in the crypto aisle.
In summary, while the crypto waters are choppy and the horizon looks stormy, the whales are diving deeper, scooping up Bitcoin at bargain prices. Whether this strategy will pay off remains to be seen, but for now, it’s clear that institutional investors are playing the long game, unfazed by the market’s short-term squalls.
- Japan Eyes Tighter Crypto Rules - April 2, 2025
- Elon Musk: “The U.S. Government Will Not Be Using Dogecoin” – Sorry, Doge Fans - March 31, 2025
- Bitcoin’s Rollercoaster: Dips Below $82,000, but the ‘Whales’ Keep Swimming - March 31, 2025
