Major Bitcoin holders have started to increase their positions in the asset again, potentially signaling a positive price trend reversal. This observation comes from analysts at Santiment.

These are wallets holding between 10 and 10,000 BTC. This group of investors has raised their cumulative share of the market supply of the leading cryptocurrency to over 68%.

Source: Santiment. 

"Their recent shift towards accumulation is a bullish signal," the experts noted.

They also pointed out that a local bottom for Bitcoin might form when the share of retail traders begins to decline significantly. Currently, this is not observed.

"Historically, markets hit a bottom when the 'crowd' loses hope. The ongoing optimism from retail investors is currently the strongest counterargument," analysts stated.

The ratio of positive to negative comments about cryptocurrencies on social media has reached its highest level in the past six weeks. This metric reflects retail confidence, but such excessive optimism often precedes a "bull trap" or local maximum, Santiment added.

Source: Santiment.

At the time of writing, Bitcoin prices have recovered to around $71,500. Over the past week, the asset's price has increased by more than 6.5% (CoinGecko).

According to Santiment, the MVRV indicator shows divergence. Short-term investors (those who bought within the last 30 days) are in slight profit, indicating some risk of a sell-off. Long-term holders (those holding for at least 365 days) are currently down about 25%. Historically, when this group is at a loss, the market offers a better risk-reward ratio, creating an opportunity for a favorable entry into the asset.

A Bit of Optimism and Uncertainty

Analyst Ali Martinez, based on MVRV price ranges, suggested that if Bitcoin surpasses the $73,726 mark, it could pave the way for a sharp rise to $95,894.

Per the MVRV Pricing Bands, clearing $73,726 could open the door for Bitcoin $BTC to surge to $95,894. pic.twitter.com/5NpVVIFA7O

— Ali Charts (@alicharts) March 14, 2026

Veteran trader Peter Brandt noted the formation of a familiar pattern in the cryptocurrency's chart, which recently ended with a drop to $60,000.

I pledge allegiance to the _ _ _ _
Fill in the blanks pic.twitter.com/6C0lfgnGmO

— Peter Brandt (@PeterLBrandt) March 13, 2026

"I pledge allegiance… Fill in the blanks," he wrote to nearly 1 million of his followers.

Most commentators viewed the figure as a bearish signal in the form of an "Ascending Wedge." However, some believe a breakout upward is possible if the pattern is seen as a "Channel."

It is worth noting that on-chain data did not confirm the readiness of Bitcoin bulls for a breakout in the medium term.