Bitcoin $99,755.0 The price is approaching $100,000, giving signs of recovery. While Tether’s increased USDT supply provides liquidity to the market, large investors’ Bitcoin savings and on-chain indicators support the rise in price.
Bitcoin Price Rally Aims for New Highs
In the last 24 hours, Bitcoin price jumped from the $96,000 support level and reached $99,376, increasing by 2.17%. The market value stands at $1.97 trillion, but daily transaction volume decreased by 33% to $84 billion.
Savings and Support Levels of Large Investors
On-chain indicators show that large investors (whales) continued to accumulate during the recent Bitcoin decline. “Following the drop to $96,000 in the last 24 hours, Bitcoin whales bought 20,000 BTC, worth approximately $2 billion,” said crypto analyst Ali Martinez.
Ali Martinez: “Active accumulation of Bitcoin whales continues.”
Local price peaks generally occur at short-term conservative cost bases plus one standard deviation, Martinez said. The current key level is calculated at $112.926, which could be a significant resistance point.
Ali Martinez: “The current key level is a critical resistance point for Bitcoin.”
Bitcoin’s most important support level is at $96,870. Approximately 1.45 million addresses purchased 1.42 million BTC at this price point, supporting a critical demand zone. “As long as this level remains intact, Bitcoin’s uptrend may continue,” Martinez said.
Tether’s USDT Mining Provides Additional Liquidity to the Market
Stablecoin provider Tether, Ethereum 
$3,988.5 It provided liquidity support to Bitcoin and altcoins by minting an additional 2 billion USDT on the blockchain. It was stated that Tether has minted a total of 19 billion USDT on Ethereum and Tron since November, and 4 billion USDT has been released in the last four days.
Last week, the open source Wallet Development Kit (WDK) was introduced for Tether developers. WDK aims to support independent management of digital assets by facilitating the creation of Bitcoin and Tether wallets.
The fact that the Bitcoin price has exceeded the $100K threshold twice in the last month strengthens the view of market analysts that this rally may continue. Tether’s influence in the crypto market is expected to continue to grow.
In light of these developments, along with Bitcoin’s strong support levels and increased liquidity, the price continues to have the potential to continue its uptrend.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
