The recent surge in demand from Bitcoin whales, coupled with a break in the cryptocurrency's daily downtrend, has ignited speculation among analysts about an impending price rally. While the signs are promising, experts caution that significant price movements may take several weeks to materialize.

Crypto markets have been abuzz with activity as large Bitcoin holders continue to accumulate the digital asset. Despite the current price levels, analysts anticipate that Bitcoin may not reach new highs for several weeks, attributing this projection to the cautious optimism prevailing in the market.

According to Rekt Capital, a prominent pseudonymous crypto trader, Bitcoin's recent price action indicates a shift in momentum. The daily downtrend, characterized by a consistent decline in Bitcoin's value, has been broken, with the cryptocurrency closing at $65,854 on May 15, marking a notable 6.9% increase from the previous day's close.

Rekt Capital suggests that Bitcoin has rebounded from what he terms the "reaccumulation range low," denoting the lower boundary of a price range where significant buying activity occurs. Despite this positive development, surpassing the all-time high of $73,797 set on March 14 could still take some time, possibly stretching into the coming weeks.

However, traders remain optimistic about the potential for a major price surge if current trends persist. Mister Crypto, another pseudonymous trader, expressed confidence in a forthcoming breakout, describing it as "crazy" in a recent post.

Meanwhile, CryptoQuant, a leading crypto analysis firm, highlights the resurgence in Bitcoin whale demand after a two-month downtrend. According to their report, Bitcoin's demand growth appears to be stabilizing following a period of deceleration since March. The firm notes a notable acceleration in the Bitcoin balance of permanent holders and total balance of large investors, signaling renewed bullish sentiment in the market.

Nevertheless, CryptoQuant emphasizes the need for further acceleration in demand to sustain the ongoing price rally. Despite Bitcoin hovering around the $65,863 mark at the time of publication, the firm points to low Bitcoin balances across over-the-counter (OTC) trading desks as evidence of strong demand outstripping available supply.

As Bitcoin continues its journey towards mainstream adoption, the dynamics of supply and demand are expected to play a crucial role in shaping its price trajectory. With analysts closely monitoring whale activity and market trends, the stage is set for a potentially exhilarating period in the world of cryptocurrency, marked by anticipation and speculation.