Bitcoins [BTC] The ongoing rally can only be influenced by a small group of investors. That is why a certain degree of vulnerability can be associated with the largest cryptocurrency in the world at the moment.
The next step will depend heavily on whether demand returns en masse.
Major Players Demand More Bitcoin!
Business Bitcoin Ownership have gone up in the first quarter of 2026, according to Bitwise 1.15 million BTC. That’s an increase of 4.6% quarter-on-quarter, with the same now accounting for 5.47% of total supply.
Meanwhile, the total value of these assets fell to $77 billion – a decline of 18.9% over the same period.
The participation of public companies has also remained stable, with 187 companies owning Bitcoin. That is a slight decrease of 2% quarter on quarter. The majority of holdings are still concentrated, led by Strategy, followed by XXI, MARA Holdings and Metaplanet.
There is an increase in purchases through 2024 and early 2026, with over 50,000 BTC added in the first quarter alone.
Traders, stay careful!
Apart from that, the sentiment is only justified starts to rise again. At the time of writing, Bitcoin’s price was trying to hold above $80,000, with the unified sentiment index returning to the positive zone. This, after months of weakness.
The index (ranging from -100 to +100) showed that the market was somewhat in ‘greed’. That indicated increasing confidence among investors so that they would hold on and not feel the need to sell.
However, there was a similar movement in January. At the time, sentiment entered the greed zone before falling into another price slump.
Is this rally really strong?
Finally, Bitcoin’s network activity fell to its lowest level in two years even as the price rose back above $80,000.
Daily active addresses were to cling around 531,000, with only 203,000 new wallets created every day. These numbers are significantly below the highs of the previous cycle. This lack of participation has persisted even during the recent recovery.
Typically, rising prices are held up by increasing user activity. That pattern is missing here so far.
Instead, the rally appears to be powered by a smaller group of participants. Such movements are usually fragile. Particularly because limited demand reduces the market’s ability to absorb selling pressure as conditions change.
Final summary
- Bitcoin’s rally above $80,000 is held up by corporate buying, with holdings reaching 1.15 million BTC.
- The rally will remain fragile until broader demand returns.