Bitcoin Price Today: BTC Price Tests $90K Support as Analysts Monitor Selling Pressure; Channel Bounce Targets $99.6K–$103.8K
Bitcoin tested $90K support after filling a CME gap, with analysts watching for a bounce targeting $99.6K–$103.8K amid whale accumulation.Summary
Bitcoin (BTC) stabilized near $93,413 after briefly dipping below the $90,000 mark, completing a widely tracked CME futures gap. Analysts suggest the $88,000–$90,000 range is a critical liquidity zone, and while some fear further downside sweeps, others point to underlying bullish signals.
On-chain data indicates that large holders, or whales, are accumulating, as shown by a notable rise in Bitfinex BTCUSDLONGS, mirroring accumulation patterns seen before previous uptrends. However, this whale positioning is not a guaranteed predictor of market direction, requiring consideration alongside ETF flows and macro liquidity trends.
Technically, Bitcoin is respecting the lower boundary of a descending channel. A decisive breakout above this channel's upper trendline could signal a structural shift, leading to recovery targets at $99,600 and $103,800. The market's next move hinges on holding the $88K–$90K support zone.
(Source：Brave New Coin)