Bitcoin rose 28% from its April low, showing new strength as it continues to trade nearly $95,000. After weeks of steady growth, the bulls were in control, but the momentum began to slow down. Current levels of price action indicate some fatigue, and the market is now waiting for a clear breakthrough or breakdown to determine the next direction.
Global tensions, especially around ongoing trade conflicts and macroeconomic instability, continue to put emotional pressure on. Investors are cautious and lack of decisive moves over $100,000 are putting the market on the edge. Despite this, there are still signs of growing confidence.
According to CryptoQuant’s chain data, whales have quietly amassed 43,100 BTC in the past two weeks, and their current price is worth nearly $4 billion. This level of accumulation is often seen as a bullish signal, especially when paired with a wider risk environment.
The next few days will be crucial to Bitcoin. The push in the range above $96K – $100,000 could trigger higher new legs, while the unexplosion could lead to wider mergers or even corrections. Currently, everyone’s eyes are on whales and whether retail will follow.
Bitcoin faces testing as whales accumulate to strengthen bullish cases
Bitcoin is now at a critical juncture as bullish momentum has begun to slow down after the bullish momentum has returned to strong over the past few weeks. After recovering the $90,000 level and testing the $95,000 resistance zone, the price action has dropped and the market is entering the merger phase. The Bulls still control the short-term structure, but need a clear breakthrough of more than $100,000 to confirm the next delight of this rally.
Current market sentiment is cautiously optimistic. Chain activity has improved, and technical indicators still show bullish potential. Bitcoin seems to be laying the foundation for bigger moves, especially after several health-supporting levels of health retests, about $88,000 – $90K. However, macroeconomic risks continue to endanger greater risks. Ongoing geopolitical tensions, especially between the United States, and concerns about a global recession, could inject renewed volatility and put investors on the edge.
Despite these headwinds, chain signals are beginning to align with bullish expectations. Top analyst Ali Martinez shared data showing that whales have accumulated more than 43,100 btc in the past two weeks, and are currently at a price close to $4 billion. The surge in accumulation often marks the beginning of a stronger uptrend as large holders lead in major actions.
The market is at a turning point. If the Bulls manage to restore the $100,000 level, it will mark investor confidence and may open the door to price discovery. On the other hand, not breaking the resistor may capture extended merges and may even trigger deeper corrections. The days that follow will reveal whether Bitcoin has the ability to sustain the episode, or whether it requires more patience.
BTC price analysis: merger continues with the following key resistance
Bitcoin (BTC) is currently trading at $95,140 on the 4-hour chart, with its tightly consolidated range between $94,500 and $95,800. After a strong breakthrough in mid-April, BTC soared its 200-day SMA ($85,844) and EMA ($88,189), both of which now act as dynamic support zones. Price action shows that the Bulls remain in control but faces increasing resistance at the $96,000 level.
In the past few meetings, the number has dropped slightly, indicating a lack of firm belief on both sides. This low volatile range may be calm before a larger action. If BTC exceeds the $96,000 cap, it may push towards the psychological $100,000 mark, with the next major resistance set at about $103,600.
However, failure to maintain this range may result in a lower level of support for health retesting. The immediate downside risk is $91,000, with about $88,000 for 200 EMA and SMA as key support. Losing this area may trigger a deeper backtrack to $84,000 or less.
In the short term, BTC must recover momentum with a breakthrough momentum or reduce the risk back to a broader merger model. Now, everyone’s eyes are on quantity and breakthrough confirmation.
Featured images from DALL-E, charts from TradingView
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