Bitcoin Price Surpasses $87,000 as Arthur Hayes Hints at Incoming Treasury BuyBacks

Highlights:

• Bitcoin price has surpassed key resistance, currently up 2% to $87,000.
• Whale activity in the BTC market has spiked, with many addresses holding more than 1K BTC.
• Arthur Hayes has hinted that this could be the last time buying BTC under the $100,000 mark. 

Although price rejections around this area last week were mostly strong, Bitcoin’s (BTC) price managed to pierce its key resistance threshold. Since April 13, the Bitcoin price has repeatedly been rejected around the $85,000 level, around its 200-day Exponential Moving Average (EMA). On this first trading day of the week, BTC has broken through key resistance and is changing hands at the $87,457 mark of a 2% rise.

Can Bitcoin Price Hit $90,000?

With an upward BTC trend, it could successfully exceed the greater psychological resistance of $90,000. If Bitcoin breaks this resistance successfully, it could start a new trend toward $95,000, last tested on March 2.

At the same time, the bigger picture is still bullish from a technical perspective, as technical indicators maintain upward movement. The intensity of buying pressure is evident, as the RSI sits at 72.93 on the 4-hour chart. 

However, the RSI turned into overbought territory, meaning investors can start early profiteering. In such a case, the Bitcoin price will retest the support area at $85,000, causing a slight retracement.

Bitcoin Whale Activity Soars, Can This Spike a Rally in BTC?

At the same time, more BTC whales engage with the market as the number of crypto addresses holding more than 1,000 BTC coins keeps increasing. Between March and April, there were over 60 new whale addresses. These days, bitcoin prices have oscillated while overall whale accumulation has become stronger. As the number of whale addresses surpassed 2,107 positions in mid-April, the market experienced a fundamental change.

Existing price drops may not have discouraged Bitcoin holders from staying invested. The recent Bitcoin price fluctuations have not stopped major holders from buying more. Market optimism can be seen in the sudden jump in whale addresses, which have kept more than 1,000 BTC. This has seen the count go up past 2,100 by mid-April. The data echoes a past surge in price that may suggest whales are getting ready to set the price bar higher, potentially to $95,000.

Glassnode says that the BTC whales holding more than 10,000 coins are still accumulating. This is because buyers keep picking up coins at lower prices. On April 20, Mister Crypto, a Bitcoin trader, believes that the whales have such immense amounts of Bitcoin as they know what Bitcoin’s next direction will look like.

Whales are accumulating massive amounts of Bitcoin.

They know what comes next. pic.twitter.com/wDIaBapOoZ

— Mister Crypto (@misterrcrypto) April 20, 2025

Meanwhile, investors are running out of opportunity to buy Bitcoin at six digits, as the world’s first cryptocurrency is about to see a new leg up, according to US Treasury buybacks. Arthur Hayes, co-founder of BitMEX and Maelstrom’s chief investment officer, said that figures are below the $100,000 mark.

Like the Easter bunny, bounce bounce bounce bounce bounce!

Seriously fam, this might be the last chance you have to buy $BTC < $100k 😉😉😉😉.

New essay drops this week about The BBC Bazooka, treasury buy backs.

Yaxhtzee pic.twitter.com/iYCXqGxsws

— Arthur Hayes (@CryptoHayes) April 21, 2025

In an April 21 X post, Hayes explained that “Seriously fam, this might be the last chance you have to buy $BTC under $100k” as “Bazooka buys” were coming to take Bitcoin to ‘a new Treasury world.’