The Bitcoin market is showing signs of renewed institutional interest as whale wallets surge by 4.6%. This growth, coupled with a recent rally to record highs, indicates potential capital inflows from major players despite on-chain data suggesting sell pressure. While the number of large holders has increased significantly, reaching over 1,700 entities holding more than 1,000 BTC, this accumulation comes amid high volatility and signs of weakness in Bitcoin’s on-chain activity. Analysis reveals a widening gap between Realized Cap (tracking capital invested) and Market Cap (reflecting total market value). This indicates new buyers are being matched by existing holders selling, highlighting potential underlying sell pressure. Despite the rally, Bitcoin experienced a sharp correction on April 7th, dropping 6.82% to trade at $77,152.96, wiping out over $100 billion in market capitalization. This pullback coincided with increased trading volume – a sign of heightened sell pressure. Interestingly, the number of active Bitcoin addresses has decreased despite the price surge, suggesting reduced retail activity despite high prices. This trend points to potential consolidation among substantial wallets, highlighting the impact of institutional accumulation on Bitcoin’s future landscape.