Bitcoin Downtrend Eases, Stabilizing Between $94K–$100K

In Brief

• Bitcoin stabilizes between $94K–$100K as sell-side pressure moderates.
• Whale activity surges, suggesting large holders are capitalizing on price dips.
• Bitcoin faces a decline in on-chain metrics, but signs of potential consolidation emerge.

Bitcoin’s price has dipped to approximately $93K, reflecting an ongoing downtrend with some signs of stabilisation. The market has entered levels where potential buyers may begin assessing value, hinting at possible consolidation.

The 14-day RSI remains oversold, signalling sustained pressure on momentum. Despite this, both Futures CVD and Perpetual CVD have dropped to extreme negatives, confirming a strong sell-side dominance.

In the spot market, trading volumes have declined, with ETF outflows moderating. This shift suggests that aggressive selling may be transitioning into a more measured repositioning phase.

On-Chain Metrics and Whale Activity Suggest Possible Stabilization

On-chain activity has softened, with transfer volumes and fee revenues showing declines. Profitability metrics have weakened, signalling more caution in the market, particularly with increased short-term holder losses.

Despite these challenges, the appearance of exhaustion signals could indicate a local bottom forming around the $94K–$100K range. Whale activity has surged, with entities holding over 1,000 BTC reaching a new high since early 2024.

The surge in whale activity suggests that large holders are capitalising on the recent price dips. Historically, such behaviour signals bullish sentiment, aligning with the current volatility and potential future price rise.

Bitcoin’s recent volatility is reflected in a significant 11.23% drop over the past week. However, despite the drop, market conditions show signs of stabilisation as sell-side pressure begins to ease.