Bitcoin Price Rebounds After Weekend Volatility: $65K Target Looms as Whale Accumulation Emerges

Bitcoin (BTC) experienced a rollercoaster weekend, briefly dipping below $82,000 before recovering to around $83,000 by Monday. This volatility sparked a flurry of predictions, with some analysts pointing to potential price targets as low as $65,000 while others are focusing on recent unusual buying activity.

Market Analysis: Rebound and Future Predictions

Following the initial downturn, Bitcoin showed resilience, erasing most of its weekend losses. The absence of further pressure from the US stock market contributed to this recovery. Popular trader Daan Crypto Trades noted the significant weekend volatility, suggesting a potential return to Friday’s closing price. He also highlighted the possibility of a new gap forming in CME Group’s Bitcoin futures market due to the erratic price swings.

However, not all analysts shared this optimism. Veteran trader Peter Brandt expressed skepticism, citing a bearish head and shoulders pattern and suggesting a potential drop to $65,635, a prediction echoed by other market analysts.

I am not a big fan of inverted H&S patterns with downward slanting necklines. H&S patterns with horizontal necklines are far more reliable $BTC $BTC pic.twitter.com/GKGUZbrab8

— Peter Brandt (@PeterLBrandt) March 29, 2025

The Mystery of ‘Spoofy the Whale’ and Large-Volume Accumulation

Keith Alan, co-founder of Material Indicators, continues to investigate the actions of a significant market player dubbed ‘Spoofy the Whale,’ suspected of manipulating Bitcoin prices through spoofing techniques. Alan’s analysis suggests this entity is now accumulating BTC at lower price points, possibly indicating a shift in market dynamics.

While this activity doesn’t negate the possibility of further price drops, it adds a layer of intrigue to current market behavior and raises questions about the longer-term outlook. The presence of large bids down to $78,000 further supports the idea of significant accumulation by a major player.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.