Bitcoin's Price Action and Market Sentiment

Bitcoin's price has recently fallen below the critical $100,000 psychological threshold, reaching approximately $97,000, its lowest level since May. This movement has been accompanied by intensifying selling pressure across the market, leading to a decidedly fearful sentiment among traders who are reducing leverage and seeking safer assets. The three-day chart confirms a short-term bearish shift as sellers currently dominate, with volume spikes indicating panic-driven liquidations and fading momentum.

Whale Accumulation Signals Potential Reversal

Despite the prevailing weakness, signs of early accumulation by large buyers are emerging. CryptoQuant analyst Maartunn highlighted massive bid walls on Binance Futures, indicating that aggressive buyers are stepping in to absorb the recent selling wave. Two significant bid clusters, one at 800 BTC and another at 2,000 BTC, suggest that high-volume traders are actively accumulating Bitcoin around current levels. Historically, such large-scale bids have often coincided with local bottoms, as whales and institutional players accumulate during periods of market weakness.

These bid walls create a temporary price floor, making it more challenging for BTC to decline further without an overwhelming surge in selling volume. This behavior is characteristic of early market reversals, where smart money builds positions while retail sentiment remains cautious. Analysts suggest this renewed confidence from deep-pocketed investors could stabilize Bitcoin above the $95,000–$97,000 range. Past occurrences of strong bid support have often preceded short-term relief rallies, implying that the current dip might be setting the stage for a broader recovery.

Key Support Levels and Outlook

While the market structure remains corrective, it is not yet fully bearish. Bitcoin has consistently found support above its 200-day moving average during previous mid-cycle retracements, a pattern that often precedes recovery. The 200-day MA, currently near $88,000, stands as the next major support if selling pressure continues. Price is showing early signs of stabilization, hinting at active dip buying. If BTC successfully reclaims and holds above $100,000, a short-term relief rally towards $105,000–$108,000 is plausible. However, failure to defend the $95,000 level could accelerate a decline towards $90,000. The market currently reflects a consolidation phase, balancing the risks of further capitulation with the potential for early accumulation and rebound.