Bitcoin Recovers Amid Whale Moves, Key Levels Ahead
Key Takeaways
Bitcoin (BTC) is showing early signs of recovery but remains stuck below the USD 98,000 mark. Short-term inflows from large investors (“whales”) and increased network activity are supporting the price. However, long-term outflows, a negative price-to-activity divergence, and conflicting valuation metrics are weighing on the outlook. Key support and resistance levels are at USD 94,000 and USD 98,000.
Whale Activity on the Rise – But Is It Enough?
Over the past week, the “Large Holder Netflow” increased by 26.41%. This means large investors have resumed accumulating BTC. This is a positive signal for short-term price stability. However, long-term data tells a different story. The 30- and 90-day netflows are at -108.09% and -110.13%, respectively. These figures indicate ongoing selling pressure – a clear obstacle to sustainable price increases.
Network Usage at Peak Levels – But With Warning Signs
According to data from Glassnode, over 925,000 active addresses were recorded within 24 hours – the highest number in six months. This suggests strong user interest. At the same time, Santiment’s “Price DAA Divergence” indicator shows a value of -225.82%. This means the price is rising faster than the number of new active addresses. Such divergences can point to overheating.
Valuation Metrics Sending Mixed Signals
BTC’s market valuation currently presents a mixed picture:
- Puell Multiple: At 1.36 – indicating stable miner revenues.
- NVT and NVM Ratios: Both have risen significantly (+50% and +26%, respectively) – suggesting market cap is growing faster than transaction and usage activity.
- Stock-to-Flow Ratio: Down by 50% – weakening the argument for BTC as a scarce asset.
These inconsistent data points show that the market is currently difficult to assess. Neither overvaluation nor undervaluation can be clearly confirmed.
Liquidity Zones as Price Barriers
Binance’s Liquidation Heatmap highlights two key price areas: USD 94,000 and USD 98,000. Both zones are heavily populated with leveraged positions. A breakout above USD 98,000 could trigger a wave of short liquidations – potentially pushing the price higher. Conversely, a drop below USD 94,000 could flush long positions out of the market and apply downward pressure.
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What’s Next for Bitcoin?
BTC is currently in a critical phase. Technical indicators such as the TD Sequential buy signal suggest a short-term recovery. The activity of large investors and network usage also point to further potential. At the same time, long-term outflows, valuation uncertainties, and negative divergences are dampening momentum. A clear breakout above USD 98,000 remains possible – but not guaranteed.
Our Assessment
If you’re investing or trading in Bitcoin, keep a close eye on the USD 94,000 and USD 98,000 levels. These marks could determine the next move. There are short-term signs of strength, but the long-term outlook remains tense. Without a clear improvement in fundamental data, caution is advised. Wait for confirmation from multiple indicators before taking larger positions. The coming days could be crucial.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | $95,444.00 |
| 24h % | -0.74 % |
| 7d % | 1.47 % |
| 30d % | 13.04 % |
| 60d % | 7.01 % |
| 1y % | 50.37 % |
| Market Cap | $1,895,239,239,274.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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