Bitcoin Price Slips Below $90K Amid Market Hesitation, While Long-Term Accumulation Signals Persist

Source: CoinTribune Original Title: Bitcoin Accumulation Rises, But Price Falters Original Link: https://www.cointribune.com/en/bitcoin-accumulation-rises-but-price-falters/ Bitcoin fell back below $90,000 at the Wall Street open on Monday, after reaching $92,000 during the Asian session. This reversal occurs as traders watched a possible rebound toward the critical level of $93,500, corresponding to the annual opening price.

Technical Rejection and Support Levels

According to trader and analyst Michaël van de Poppe, this represents a “brutal rejection at a major bitcoin resistance.” He identifies $93,500 as a major barrier to overcome to confirm a bullish rebound.

The identified support level stands at $86,000. As Van de Poppe explains: “if no higher low forms, then I watch for a sweep of lows with 86K as the threshold to hold,” mentioning this level as the last line of defense before a possible return to previous floors.

Market Dynamics

Selling pressure at the US market opening exhausted the bullish movement, coinciding with the return of traditional markets and suggesting a direct link between US liquidity and this correction. Despite the positive context in Asia, BTC lacked conviction to break key resistances, highlighting market hesitation.

This volatility coincides with a general wait-and-see attitude. On the derivatives side, liquidations remain moderate, with about $330 million over 24 hours across all assets combined. This reflects a cautious market stance rather than sudden panic.

Silent Accumulation Signals

Alongside this short-term weakness, strong accumulation signals continue to emerge. According to Glassnode, more than 35,000 BTC have been withdrawn from exchanges over the past two weeks. This movement shows a gradual migration of bitcoin toward long-term holding wallets.

Demand for buying at lows extends beyond institutional investors, spanning all exchange users for both BTC and altcoins. Major corporate acquisitions of approximately 1 billion dollars worth of BTC, with average purchase prices slightly above $90,000, contribute to a deeper structural change.

Market Structure Shift

Bitcoin ETFs and corporate treasuries now collectively hold more BTC than exchange platforms, as emphasized by market analysts. The supply available on markets is shrinking, while ETH balances on exchanges are also hitting decade lows.

The bitcoin price swings again below $90,000, caught between speculative tensions and scarcity signals. As supply on exchanges decreases, the balance remains fragile. Only a clear rebound in demand will reverse the short-term trend.