The course $BTC continues to consolidate under the influence of a downward trend that has persisted for a month. The asset is unable to overcome key resistance levels. The trajectory of Bitcoin remains unclear. The situation is complicated by the lack of clear support from macro-financial markets.
Nevertheless, investors are demonstrating noticeable activity. Accumulation of the asset can stabilize price dynamics if large institutional capital joins the process.
The rise in confidence among asset holders
Last week, balances on trading platforms showed a sharp decline. This signals a renewal of confidence among Bitcoin holders. In seven days, more than 23,385 $BTC were withdrawn from exchanges. The total value of this accumulated supply exceeds $2.15 billion.
The specified outflow has reduced exchange reserves to their lowest level since January 2021. That period is historically associated with strong bullish sentiment. Such a pronounced reduction in supply typically reflects a long-term holding strategy. It reinforces optimism even in a bearish market.
The reduction in available volume on exchanges weakens selling pressure. This increases the likelihood of a potential price recovery. Accumulation initiated by retail investors can provide significant support to Bitcoin.
The Bitcoin Trend Accumulation Score also indicates noticeable activity. The distribution of the asset has weakened at current price levels. Small holders are aggressively increasing their positions. At the same time, larger cohorts are accumulating Bitcoin at a moderate pace. This dynamic reflects growing retail confidence and decreasing selling pressure across various wallet groups.
However, the lack of active participation from 'smart money' remains a concern. Large institutional players traditionally exert more significant influence on price trajectories. Their indecision may hinder Bitcoin from transforming retail accumulation into a sustainable upward rally.
The price of Bitcoin remains in consolidation.
Currently, Bitcoin is trading at $92,047. The price is held above the critical support level of $91,521. Meanwhile, the asset remains trapped within a monthly downtrend. A decisive breakout is required to exit the current position, which has not yet occurred, despite recent attempts.
To cancel the downtrend, it is necessary to convert the level of $95,000 into sustainable support. Given the ongoing accumulation and reduction of supply on exchanges, such a scenario is possible. Additional support from institutional buyers will strengthen Bitcoin's path to $100,000. This will help restore long-term bullish momentum.
If large holders continue to stay on the sidelines, Bitcoin may continue to face difficulties. The inability to hold support could bring the asset below $89,800 and further down to $86,822. Such a movement will intensify bearish sentiment and delay attempts to recover the market.
