Bitcoin continues to grapple with the $100,000 psychological milestone, failing to break above this critical resistance after rebounding from all-time highs. This prolonged stagnation has sparked discussions about a potential correction or deeper pullback as the market waits for confirmation of Bitcoin’s next major move. Analysts and investors alike are closely monitoring the situation, curious to see whether the cryptocurrency will soar to modern heights or succumb to selling pressure.

Adding fuel to these concerns, renowned analyst Maartunn recently highlighted alarming activity on the chain. More than 8,000 five- to seven-year-old BTC have been moved onto the chain, raising questions about the intentions of long-term holders. Historically, such moves often preceded market shifts, with increased selling pressure signaling potential weakness.

The activity of these experienced wallets may reflect withering confidence or profit-taking, keeping Bitcoin below the $100,000 threshold. As bulls and bears continue to battle for supremacy, this critical indicator highlights growing uncertainty. With Bitcoin’s trajectory hanging in the balance, market participants are preparing for clarity on whether this key level will eventually develop into solid support – or whether it will mark the beginning of a downward correction.

Moving Bitcoin Money Smartly

Since early December, Bitcoin has entered a prolonged consolidation phase, struggling to establish clear momentum in both directions. The latest supply chain data suggests that whale activity plays a key role in keeping prices low. According to leading analyst Maartunnaa familiar creature – the elderly Bitcoin whale – has resurfaced, making significant moves that could impact the market’s trajectory.

Maartunn highlights that the move of over 8,000 BTC mirrors the pattern seen just 10 days ago. During this time, the same whale has transported a total of over 72,000 BTC since the consolidation phase began. Often called “smart money,” this whale was as busy as ever, signaling strategic positioning rather than impulsive selling.

The consequences of this activity are profound. As long as this whale continues to unload BTC, selling pressure could keep Bitcoin below key psychological levels, extending the current consolidation period for several more weeks. However, this phase of accumulation and redistribution could set the stage for massive growth once activity ceases.

Analysts interpret this as a period of preparation by experienced market participants, suggesting that once the dust settles, Bitcoin could experience a massive breakout higher.

BTC above key demand level

Bitcoin is currently trading at $95,000 after managing to stay above the critical support level of $92,000. Even though the bears have maintained control of the market in recent weeks, they failed to break the key demand zones at the $92,000 and $90,000 levels. These levels served as a mighty base, preventing further declines and signaling buyers’ resilience.

If Bitcoin continues to defend these key levels, it could pave the way for it to quickly break through its all-time high (ATH). Maintaining the value above $92,000 would reinforce bullish sentiment and attract renewed interest from traders and institutional investors awaiting the psychological milestone of $100,000.

However, the road ahead is uncertain. A failed attempt to recover $100,000 could signal exhaustion among buyers and potentially trigger a deeper correction. In such a scenario, Bitcoin may revisit lower support zones as market participants re-evaluate their strategies.

The coming weeks will be critical for Bitcoin’s trajectory. Whether the price reaches a modern level or a significant rebound will depend on its ability to maintain key levels and overcome the psychological barriers that keep the price below 100,000. dollars. Investors are watching closely, expecting Bitcoin’s next decisive move.

Featured image from Dall-E, chart from TradingView