In the last fortnight, Bitcoin’s price consistently returned to the $90,000 range as retail investor sentiment improved, fund managers reaffirmed their bullish outlook for a potential end-of-year rally, and Strategy revealed a significant BTC acquisition.
Matthew Sigel, head of digital asset research at VanEck, stated that Bernstein indicated that “the Bitcoin cycle has deviated from the traditional 4-year pattern (cycle peaking every 4 years) and is currently in a prolonged bull cycle with more stable institutional buying balancing out any retail panic selling.”
These comments followed BlackRock chair and CEO Larry Fink’s remarks that sovereign wealth funds are “incrementally” purchasing Bitcoin as it “has decreased from its $126,000 peak.”
Fink noted,
“I know they acquired more when it was in the 80s. They’re establishing a long-term position. You hold it for years. This isn’t just a trade. You own it for a purpose, but the market is skewed, heavily leveraged, leading to increased volatility.”
Reflecting Fink’s and Bernstein’s perspective, Strategy announced a significant 10,624 BTC ($962.7 million) acquisition at an average price of $90,615 per coin on Monday. Bitwise European head of research Andre Dragosch pointed out that this was the largest purchase since July 2025.
While Bitcoin has recovered from its November 21 low of $80,612 in line with improved investor sentiment, the price remains constrained within the $90,000 to $93,000 range. On Saturday, chartered market technician Aksel Kibar mentioned,
“This reflects the volatile price action where BTC/USD is possibly attempting to find a bottom. Technical support lies lower, between $73.7K and $76.5K. It took several months during the March-May period to form that short-term double bottom.”
Related: Did BTC’s Santa rally initiate at $89K? 5 key points on Bitcoin this week
Cumulative volume data from Hyblock offers a detailed perspective, revealing increased participation from investors in the 0 to 100 BTC transaction category, often regarded as retail. Larger transaction cohorts in the 1,000 to 100,000 and 100,000 to 1 million categories (cumulative volume delta) seem to be liquidating during rallies in the $90,000 to $93,000 price range.
In a similar vein, order book data for BTC/USDT (perpetual contracts at Binance) reveals a significant wall of asks commencing at $90,000 and thickening from $94,000 to $95,000.
Conversely, liquidation heatmap data shows short liquidity in the range of $94,000 to $95,300, which could potentially enable bulls to target $100,000 if the market provides adequate catalysts for a rise in either spot or futures buying.
This article does not provide investment advice or recommendations. All investment and trading decisions involve risk, and readers should do their own research before making any decisions.
This article does not offer investment advice or recommendations. All investment and trading activities carry risks, and readers are urged to conduct their own research when making decisions. While we aim to furnish accurate and timely information, Cointelegraph does not guarantee the correctness, completeness, or reliability of any of the information presented in this article. This article may include forward-looking statements that are inherently subject to risks and uncertainties. Cointelegraph shall not be held liable for any loss or damage incurred from reliance on this information.
