Bitcoin Hit $80,000 With Little Whale Participation: Is That Bullish or Bearish?

Bitcoin (CRYPTO: BTC) has surged 25% over the past seven days, but whale profit-taking and key resistance could determine whether the rally marks a bullish reversal or another bear-market bounce.

Can Spot Demand Sustain BTC Rally?

In an interview with David Lin on Tuesday, top technical analyst Benjamin Cowen said Bitcoin’s recent breakout began shortly after Treasury Secretary Scott Bessent announced plans to double Treasury bond buybacks from $2 billion to $4 billion per operation.

A major short squeeze helped power Bitcoin’s initial breakout, alongside some spot demand.

But his whale activity indicator shows surprisingly little participation from large holders during the latest advance.