Bitcoin is showing signs of a potential recovery, emerging from a validated bullish pattern. The crypto has managed to regain momentum, with whale investors playing a crucial role in its price surge. 

As larger holders accumulate more BTC, Bitcoin is inching closer to critical resistance levels.

Bitcoin Investors Are Uncertain

Whale holders have been actively accumulating Bitcoin during the recent mid-sized drop and volatile market conditions. Unlike smaller retail traders, who have been liquidating their holdings, large investors are taking advantage of the price swings to expand their portfolios. This trend highlights a growing divide between seasoned investors and newcomers.

February data reveals a notable shift in wallet distribution. The number of wallets holding 100+ BTC has grown by 135, while smaller wallets holding less than 100 BTC have declined by 138,680. This shift indicates that whale investors are reinforcing their positions while smaller traders exit the market.

Analyzing Bitcoin’s macro momentum, the Cost Basis Distribution shows that a key support range lies between $97,500 and $99,999. Last month’s data confirms that nearly 200,000 BTC were accumulated at these levels, reinforcing price stability.

Additionally, investors with a cost basis above $99,000 have acquired over 150,000 BTC. This accumulation further strengthens the crucial range between $97,500 and $99,999, serving as a foundation for Bitcoin’s next potential move upwards.

BTC Price Prediction: Recovering for Breakout

Bitcoin’s price is on track to validate an ascending wedge pattern once it reaches $106,100, requiring a 7% increase. However, for this to happen, investors must resist the urge to sell prematurely and maintain upward momentum.

Given the accumulation trends and whale activity, Bitcoin could first retest the $100,000 resistance. If this level is successfully breached, BTC is likely to continue its uptrend, break out of the ascending wedge, and surge toward $106,100 and beyond.

On the downside, failure to break $100,000 could lead to a decline, with Bitcoin potentially dropping to $95,668 or lower. This scenario would invalidate the bullish thesis and extend market losses, disrupting the current recovery trend.

Government watchdog group Public Citizen has filed a formal complaint with the Department of Justice and the Office of Government Ethics regarding President Donald Trump’s launch of meme coins.

The group is urging an investigation into whether Trump violated federal laws by promoting and soliciting money for his Official Trump meme coin.

The complaint, submitted on Wednesday, cites social media posts from Trump on both X (formerly Twitter) and Truth Social. According to the submission, the US president used these platforms to promote the TRUMP coin and encouraged supporters to send money.

Further, Public Citizen alleges these posts were re-shared on January 20 and January 21, shortly after Trump was inaugurated. The group argues that this constitutes a potential violation of federal laws prohibiting the president from soliciting personal gifts.

“A president soliciting money from the general public for his personal enrichment would be a reprehensible abuse of the presidency. The Department of Justice and Office of Government Ethics owe it to the American people to thoroughly investigate whether Donald Trump’s solicitation is in violation of the law, and, if it is, take appropriate action to stop it,” an excerpt in the report read, citing Bartlett Naylor, a financial services advocate at Public Citizen.

The complaint also calls out Trump’s official website for the meme coin for stating that contributions to the project are purely in exchange for a digital receipt. According to the advocacy group, this suggests that the money received is not tied to any tangible product or service.

Public citizens are concerned that the funds collected may directly benefit Trump, potentially breaching federal ethics laws. Additionally, the complaint raises constitutional concerns.

Notably, the US Constitution forbids any president from accepting money or items of value from foreign sources. Given crypto transactions’ decentralized and anonymous nature, it isn’t easy to ascertain whether foreign state actors are purchasing Trump’s meme coin.

According to the complaint, this creates possible national security and foreign policy risks.

Previous Calls for Investigation Into TRUMP Meme Coin

The latest complaint follows mounting scrutiny over Trump-affiliated cryptocurrencies. Two weeks ago, Senator Elizabeth Warren called for federal scrutiny of the TRUMP and MELANIA meme coins. As BeInCrypto reported, she warned of potential regulatory and ethical violations.

Around the same time, Democrats demanded an ethics probe into Trump’s involvement in meme coin-related financial dealings. They cited concerns about his association with World Liberty Financial.

“The expanding scope of President Trump—and by extension The Trump Organization’s—financial entanglements and quid pro quo promises are troubling,” wrote US Representative Gerald Connolly.

Despite these growing concerns, Trump recently denied knowledge of the meme coin. However, the denial came amid significant market fluctuations in the coin’s value, adding further speculation about his level of involvement.

Nevertheless, public interest in the TRUMP meme coin has surged. A recent survey found that over 40% of TRUMP meme coin holders are first-time investors, illustrating the coin’s strong appeal among inexperienced traders. At the same time, World Liberty Financial (WLFI), Trump’s DeFi venture, has experienced a dramatic rise in token sales following the launch of the TRUMP meme coin.

Further analysis of blockchain transactions has also revealed concerning centralization issues. A recent Chainalysis report found that 94% of TRUMP and MELANIA tokens are held by just 40 wallets. This raises questions about potential price manipulation and insider advantages.

Beyond ethical and regulatory concerns, Trump’s meme coin launch has also prompted discussions about its legal and tax implications. Cryptocurrency experts warn that such a venture could carry significant tax liabilities for Trump and investors.

Moreover, if the investigation finds that Trump’s meme coin solicitation violates federal law, the Public Citizen’s complaint suggests immediate action. These may include terminating the sale, refunding the money, and implementing additional penalties.

The Department of Justice and the Office of Government Ethics have yet to respond to the filing.

Global traders, including those in crypto, should brace for volatility as tariffs and inflation take center stage in shaping market trends, according to a new survey by JPMorgan Chase.

The survey’s findings indicated a significant rise in concern compared to the previous year when only 27% of respondents cited inflation as a major issue.

Tariffs To Stir Market Uncertainty, JP Morgan Survey Says

Over the past week, US President Donald Trump introduced a 25% tariff on imports from Mexico and Canada and a 10% tariff on goods from China, only to delay some of these measures shortly afterward.

“…We further agreed to immediately pause the anticipated tariffs for one month…,” Trump revealed in a post.

Before the pause, however, the tariffs had triggered significant market fluctuations, with stocks, currencies, and commodities all responding to policy announcements.

Against this backdrop, an annual survey featuring institutional trading clients from JPMorgan Chase revealed that 51% of traders believe inflation and tariffs will be the most influential factors in global markets for 2025.

The survey cites the back-and-forth nature of these policies, saying that it has led to sharp market movements. This engagement alludes to China’s move to announce a 10% tariff on US crude oil and agricultural machinery in response to US tariffs on all Chinese imports.

On the inflation front, traders view Trump’s tariff policies as inherently inflationary, pushing prices higher across multiple sectors. Additionally, fewer traders are worried about a potential recession. Only 7% of those surveyed cited it as a major concern compared to 18% in 2024.

The report also highlights changing market structures. It emphasizes that electronic trading is expected to expand across all asset classes, including emerging markets like crypto.

Volatility Remains a Core Concern

JPMorgan’s survey also identified market volatility among the challenges to watch in 2025. Specifically, 41% of respondents named it their primary concern, up from 28% in 2024. Unlike in previous years when volatility was expected around key scheduled events, traders are now experiencing sudden market swings driven by unpredictable political and economic news.

“What distinguishes this year is the somewhat unexpected timing of volatility. Unlike in the past, when volatility was tied to scheduled events like elections or nonfarm payroll data, we’re seeing more sudden fluctuations in response to news headlines around the administration’s plans, leading to knee-jerk reactions in the marketplace,” Reuters reported, citing Eddie Wen, global head of digital markets at JPMorgan.

Meanwhile, the broader financial markets are not the only ones reacting to Trump’s tariff policies. Bitcoin and the crypto sector have also felt the impact of these economic shifts. When Trump delayed tariffs on Canada and Mexico, the Coinbase Bitcoin premium index surged to a new 2025 high.

Likewise, the news triggered a rebound in Bitcoin prices. Traders interpreted the delay as a sign of potential economic stability. Additionally, when the US paused tariffs on Mexico, XRP saw a significant recovery. This highlights the direct influence of trade policies on the digital asset market.

However, China’s retaliation to Trump’s tariffs introduced fresh instability, further exacerbating market fluctuations.

“[Ethereum would fall] Back to 2200-2400 if China trade war is real,” crypto analyst Andrew Kang wrote.

Elsewhere, Glassnode highlighted the unusual nature of the current Bitcoin cycle. As BeInCrypto reported, the blockchain analytics firm noted how macroeconomic factors—including tariffs—play an outsized role. Unlike previous cycles that primarily followed internal crypto industry trends, the 2025 cycle could realize significant influence from global economic policies.