PANews reported on April 17th that, according to Cointelegraph, CryptoQuant's on-chain data shows that whales holding more than 1,000 Bitcoins have increased their holdings by approximately 270,000 Bitcoins in the past 30 days, roughly 20 times the daily new supply (approximately 4,500 Bitcoins), marking the largest buying spree since 2013. Strategy purchased approximately 42,166 Bitcoins during this period, accounting for about 16% of the whales' purchases. Glassnode data shows that US spot Bitcoin ETFs recorded net inflows of approximately $205 million during the same period, but this is still moderate compared to the earlier stages of the cycle.

From a technical perspective, Bitcoin has broken out of a symmetrical triangle consolidation pattern, with a target price of approximately $92,220. Coin Bureau founder Nic Puckrin stated that if the current US-Iran ceasefire remains in place, oil prices fall to around $80, and economic data alleviates stagflation concerns, Bitcoin could potentially move towards $90,000.