A 300 BTC wallet reactivates after 11.6 years as Bitcoin eyes a dip to $91K–$96K amid growing volatility and structural shifts.
Bitcoin holds above $100K but analysts expect a correction toward the CME gap at $91,950 before a potential surge to $175K.
Despite short-term downside risks, BTC’s broader bullish structure suggests possible upside to $140K–$175K in the current market cycle.
A dormant Bitcoin wallet holding 300 BTC has reawakened after 11.6 years, signaling renewed market interest amid mounting volatility. Initially valued at only $60,000, the stash now holds a $30 million. This long-term holder’s timing aligns with a potentially critical moment in Bitcoin’s current cycle. BTC consolidates above $100,000, but analysts expect deeper corrections before a renewed rally.
Besides the wallet’s activity, recent trading patterns support the theory of a short-term dip. Bitcoin opened the current session at $100,948 and touched highs of $102,156. Currently, BTC trades at $101,898—up nearly 1% for the day. However, despite this bullish movement, traders like Digital Nomad Woman highlight inefficiencies near the 200-day moving average. Hence, she projects a pullback toward $96,000 and possibly $91,000, aligning with weekly imbalances.
Source: taqwaayub
Market Structure Holds but Signals Correction
Moreover, Bitcoin maintains a bullish structure but shows signs of exhaustion. Price action since April reveals a breakout above $100,000 in mid-May, followed by a surge to $112,000. This peak marked the beginning of a structured correction. Consequently, BTC retraced toward $104,000 and now attempts to consolidate.
Support lies around $101,898, while additional cushions exist near $99,102. Resistance remains firm at $110,580. Notably, trading volumes surged during the breakout phase but have since declined. This reflects a shift from impulsive buying to consolidation-driven behavior.
Additionally, technical analysts suggest BTC may be forming a predictable bull-cycle pattern. According to Egrag crypto, Bitcoin follows a repeatable sequence: a drop below the Bull Market Support Band, a rapid bounce, and eventual correction. He forecasts that BTC could fill the CME gap at $91,950 before igniting a massive leg up.
Road to $140K–$175K Still Intact
This correction does not invalidate bullish expectations. The long-term outlook is firmly intact. After filling the CME gap, Egrag sees BTC surging toward $140K–$160K. The final bounce could take the price near $175K—a potential cycle top.
Source: Egrag crypto
Hence, current pullbacks may offer rare reentry opportunities for strategic buyers. The broader structure remains bullish despite near-term volatility. Timing, as always, remains key in capturing upside momentum in this evolving cycle.
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