Bitcoin is set to close its fourth consecutive green weekly candle, up roughly 5.6% to about $78K, marking the longest weekly winning streak since May 2025. The rally comes after the worst quarter in roughly eight years and a record 59 straight days of extreme fear on the Fear & Greed Index, with whales using the drawdown to absorb an estimated $23 billion worth of Bitcoin — around 270,000 BTC, or about 1.3% of total supply — into cold storage. That accumulation pace is the largest since 2013, and exchange reserves have fallen to levels last seen in December 2017, the month before BTC first crossed $20K.
Why it matters
The structural read is rotation, not retreat: long-dormant OG wallets sold into the decline while Wall Street and institutional desks absorbed supply, leaving float thinner than at any point since the last cycle peak. Bitcoin is also completing a 50-to-100-day simple moving average bullish cross on the weekly — a setup that has only fired twice before, both at major cycle bottoms — while breaking out of the weekly RSI downtrend. April is shaping up to be Bitcoin's strongest in six years, and historical seasonality suggests strong Aprils often bleed into stronger Mays and Junes.
Market impact
Ethereum is echoing the setup in its own right. ETH is posting its best April since the 2021 bull market, up roughly 10% on the month, with BlackRock's spot ETH ETF pulling about $24M of the $23M in Friday inflows on its own. Tom Lee and other institutional treasuries continue to stake and accumulate, and the RWA narrative — tokenized funds, stocks, and commodities settling on Ethereum — keeps ETH positioned as the dominant settlement layer. The near-term technical trigger is a break above the multi-month downtrend, which opens $2,600, with the multi-year consolidation ceiling sitting near $4,900. On the flip side, Litecoin suffered a 13-block reorg and apparent 51% attack on its chain, a reminder that smaller proof-of-work networks remain vulnerable during periods of low hashpower.
Frequently asked questions
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How long is Bitcoin's current weekly winning streak?
Bitcoin is on track to close its fourth consecutive green weekly candle, up roughly 5.6% to about $78K — the longest such streak since May 2025, nearly a full year ago.
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How much Bitcoin have whales accumulated during the recent drawdown?
Whales absorbed an estimated $23 billion worth of Bitcoin — around 270,000 BTC, or about 1.3% of total supply — into cold storage over months of extreme fear, the largest accumulation streak since 2013.
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What technical signals suggest Bitcoin's bottom may be in?
The 50-to-100-day weekly SMA has just crossed bullishly and BTC has broken out of the weekly RSI downtrend — a combination that has only fired twice before, at the 2018–19 and 2022 cycle bottoms.
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How strong is Ethereum's April performance compared to prior years?
ETH is up roughly 10% on the month, making it the strongest April for Ethereum since the 2021 bull market, with BlackRock's spot ETH ETF alone pulling about $24M of Friday's inflows.
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What happened to Litecoin during this period?
Litecoin suffered a 13-block reorg on chain that took more than three hours to generate, with attackers performing apparent double-spend attacks on crosschain swap protocols — consistent with a 51% attack.
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