Can Bitcoin regain $90K? Bulls at risk as long-term holders ramp up selling

💡 DMK Insight

Bitcoin’s potential drop to $84,000 is more than just a number—it’s a signal of shifting market dynamics. Rising whale deposits indicate that large holders are offloading their positions, which often precedes price declines. This behavior, coupled with long-term holders selling, suggests a bearish sentiment that could pressure Bitcoin further. If we see sustained selling, it could trigger a cascade effect, pulling in more retail investors to sell in panic. Traders should keep an eye on the $84,000 level as a critical support point. If breached, it could lead to a more significant downturn, potentially testing lower levels. Watch for volume spikes in whale activity and monitor sentiment indicators for signs of capitulation among retail traders. The next few days could be pivotal, especially if Bitcoin fails to reclaim previous resistance levels.