Bitcoin teeters below $90,000 as long-term holders sell heavily

Bitcoin has just passed a key threshold below $90,000, reviving doubts about the strength of the market. Between massive profit taking by long-term holders and an influx of liquidity from whales, selling pressure is intensifying. Faced with this shock, buyers are struggling to contain the decline. The balance is fragile, because the speculative appetite faces increasingly vulnerable technical supports.

Massive sales by long-term holders: towards a new correction zone for bitcoin?

Crossing the $90,000 threshold was accompanied by an influx of liquidity from major wallets.

According to CryptoQuant, “whales have deposited more than $400 million in BTC on exchanges”marking what analyst Amr Taha describes as “second wave of aggressive selling pressure” in the space of a few weeks.

He precise : “Historically, such massive deposits on exchanges signal a willingness to sell or at the very least an increase in liquidity available for distribution”. This phenomenon had already been observed on January 15, with a previous peak of 500 million dollars.

At the same time, Glassnode data indicates notable behavior of long-term holders. “68,650 BTC were sold in the last 30 days”according to the report, confirming a post-rally redistribution dynamic.

This phase is accompanied by technical indicators which confirm the weakening of buyer support. Areas to watchaccording to several analysts, are:

• Technical support around $87,300, corresponding to the 100-week simple moving average;
• The range of $84,000 to $86,000, identified as a potential consolidation zone in the past;
• The key level of $80,500, the local low reached on November 22, which would act as final support before a more marked break.

This bundle of technical elements and on-chain data reinforces the risk of a more widespread correction if the market fails to stay above these thresholds.

Technical levels to defend: hope of stabilization for bullish investors

If selling pressure currently dominates, certain signals reveal a possible deceleration of the movement. Bitcoin is now near a support zone already tested several times in recent months.

Analyst Michael van de Poppe speaks of a potential technical floor: “we could see a short-term rebound, but no reversal”. He identifies the $84,000–86,000 range as a level likely to curb the decline, reinforced by a four-hour RSI “as oversold as when it dropped to $80,000”.

Other technical elements suggest a confluence zone favorable to a pause in the correction. BTC is currently trading just above the 100-week simple moving average, located around $87,300.

Below, the psychological level of $84,000 stands out as a critical threshold, reinforced by the local low point of $80,500 reached on November 22. A clear break from this zone would expose the market to further turbulence, while staying above it could provide a basis for a gradual recovery.

The price of bitcoin remains under tension, caught between persistent selling pressure and fragile support zones. Maintaining current levels will be decisive for the continuation of the movement.