Bitcoin Accumulation Rises, But Price Falters

Bitcoin slipped below $90,000 at Wall Street’s opening, erasing gains recorded in Asia. This reversal occurs despite signs of accumulation on exchanges, revealing a gap between short-term movements and a long-term holding trend. Selling pressure temporarily regains the upper hand in a market still torn between speculation and conservation strategy.

A fall below $90,000 : Wall Street slows bullish momentum

Bitcoin lost ground this Monday at Wall Street’s opening, quickly falling below the symbolic $90,000 threshold, after reaching $92,000 in 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.

Here are the key elements of this retreat :

• A confirmed technical rejection : according to trader and analyst Michaël van de Poppe, it is 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 : “if no higher low forms, then I watch for a sweep of lows with 86K as the threshold to hold,” explains Van de Poppe, who mentions this level as the last line of defense before a possible return to previous floors ;

• Selling pressure at the US market opening : the exhaustion of the bullish movement coincides with the return of traditional markets, suggesting a direct link between US liquidity and this correction ;

• Failure of the bullish retest : 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. For QCP Capital, this reflects a cautious market stance : “this reflects a notable decrease in positioning, related to fatigue, caution, or simple indifference.”

In short, the current correction is not the result of a sudden panic, but of an environment without clear direction, where investors avoid overexposure waiting for a clearer signal.

A silent accumulation : signs of BTC withdrawal from exchanges

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 According to Glassnode, more than 35,000 BTC have been withdrawn from exchanges over the past two weeks.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, visible on several platforms, shows a gradual migration of bitcoin toward long-term holding wallets. QCP Capital notes that the appetite for buying at lows extends beyond institutional investors: “demand spans all exchange users, both for BTC and altcoins,” observes the Singaporean firm.

Even major announcements like Strategy’s acquisition of 10,624 BTC, for an amount near 1 billion dollars, were not enough to reverse the market’s immediate trend. The average purchase price of these BTC is slightly above $90,000, according to official data.

However, these acquisitions contribute to a deeper structural change : “Bitcoin ETFs and corporate treasuries now collectively hold more BTC than exchange platforms,” emphasizes QCP in its analysis. 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.