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Bitcoin and the rest of the crypto markets are attempting a rebound after a sharp drop on Tuesday.
Bitcoin has now recovered above $105,000 after dropping to a low of $102,422 in the past day; Ethereum has risen 1.33% in the past day. Aster and Canton were up over 12% in this time frame; Bitcoin Cash, Algorand and a handful of tokens in the top 100 were posting gains between 2% and 3%.
As traders await what comes next, veteran trader Peter Brandt, in a recent tweet, sheds light on market trends and their key drivers.
Brandt noted that, as a general rule, a market is stronger when it goes up on offers, particularly in a base building period or early in an advance. He further added that markets that advance on offers show the secret hands of whales.
Whales are holders who hold a large quantity of a particular asset, with Brandt implying that a market surge that coincides with an increase in offers might be driven by this class of holders.
What's next?
Investors are optimistic after the Senate passed a bill on Monday to fund the federal government through January and end the longest shutdown in history, which lasted over 40 days.
The shutdown has delayed the release of key economic data from the Consumer Price Index to the Producer Price Index and the nonfarm payroll reports. Investors are looking ahead to see when those delayed reports will be released.
The trend of whale accumulation is seen across the market for various assets; according to CryptoQuant, Binance has seen a spike in Bitcoin withdrawals, marking one of the largest increases of such transactions in 2025.
A similar trend is also reported for Ethereum, with its supply on Binance falling to lows last seen in May. Outflows from exchanges often suggest long-term accumulation by holders, as they move their coins to cold wallets.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team