Bitcoin has risen 28% from its April low, continuing to trade around $95,000, showing new strength. After weeks of steady gains, bulls have firmly taken control of the market, but momentum is starting to slow. The current price action indicates some fatigue has emerged in the market, which is now waiting for a clear breakthrough or crash to determine the next trend.
Global tensions, especially surrounding ongoing trade conflicts and macroeconomic instability, continue to affect market sentiment. Investors are acting cautiously, and the lack of a decisive movement beyond $100,000 is causing market unease. Nevertheless, there are signs that market confidence is still strengthening.
According to on-chain data from CryptoQuant, in the past two weeks, whales have quietly accumulated over 43,100 Bitcoins, worth nearly $4 billion at current prices. This level of accumulation is often seen as a bullish signal, especially in a broader risk-on environment.
The next few days are crucial for Bitcoin. A breakthrough in the $96,000 to $100,000 range could trigger a new round of gains, while failure to break through may lead to a broader consolidation or even a pullback. Currently, everyone's attention is focused on whales—and whether retail investors will follow suit.
Whales accumulating strengthen the bullish case for Bitcoin, which is facing a test.
Bitcoin is currently at a critical moment, with bullish momentum starting to slow after a strong rebound in the past few weeks. After reclaiming the $90,000 mark and testing the $95,000 resistance level, price action has cooled, and the market is entering a consolidation phase. Bulls still control the short-term structure, but a breakthrough at $100,000 is needed to confirm the arrival of the next bullish trend.
Current market sentiment is cautiously optimistic. On-chain activity has improved, and technical indicators still show bullish potential. Bitcoin seems to be laying the groundwork for a larger upward movement, especially after multiple healthy retests of the downward support level around $88,000 to $90,000. However, macroeconomic risks cannot be ignored. Ongoing geopolitical tensions (especially between China and the US) and concerns about a global economic recession could trigger new volatility, leaving investors uneasy.
Despite facing these adverse factors, on-chain signals are beginning to align with bullish expectations. Top analyst Ali Martinez shared data showing that in the past two weeks, whales have accumulated over 43,100 BTC, valued at nearly $4 billion at current prices. This surge in accumulation usually marks the beginning of a stronger upward trend, as large holders position themselves ahead of significant moves.
The market is at a turning point. If bulls successfully reclaim the $100,000 mark, it will signal a revival of investor confidence and may open the door to price discovery. On the other hand, failing to break through the resistance could lead to prolonged consolidation or even trigger a deeper pullback. The next few days will reveal whether Bitcoin has the strength to maintain this rally or if more patience is needed.
BTC Price Analysis: Continuing consolidation below key resistance levels.
Bitcoin (BTC) is currently trading at $95,140 on the 4-hour chart, continuing to consolidate in a narrow range between $94,500 and $95,800. After a strong breakout in mid-April, BTC surged to the 200-day moving average (SMA) at $85,844 and the exponential moving average (EMA) at $88,189, both of which currently serve as dynamic support areas. Price action indicates that bulls still maintain control, but are facing increasing resistance near $96,000.
In recent trading days, trading volume has slightly decreased, indicating a lack of firm confidence from both sides. This low-volatility range may be a calm period before larger fluctuations. If BTC breaks through the $96,000 ceiling, it may attempt to challenge the psychological level of $100,000, with the next major resistance at around $103,600.
However, if this range cannot be held, it may lead to a re-test of lower support levels. The current downside risk is at $91,000, with the 200-day moving average and around $88,000 SMA being key support levels. A breach of this area could trigger a deeper pullback towards $84,000 or even lower.
In the short term, BTC must either break through and regain momentum, or face the risk of falling back into a larger consolidation range. Currently, everyone's attention is focused on trading volume and breakthrough confirmation.
