In the last two weeks, Bitcoin’s price has consistently approached the $90,000 range as retail investor sentiment has strengthened, fund managers have reiterated their bullish outlook for a year-end rally, and Strategy announced a significant BTC acquisition.
Matthew Sigel, head of digital asset research at VanEck, mentioned that Bernstein stated that “the Bitcoin cycle has broken the 4-year pattern (cycle peaking every 4 years) and is now in an elongated bull-cycle with more consistent institutional buying countering any retail panic selling.”
Bernstein’s insights follow comments from BlackRock chair and CEO Larry Fink, who noted that sovereign wealth funds are “incrementally” investing in Bitcoin as it “has dropped from its $126,000 high.”
Fink stated,
“I know they bought more in the 80s. And they’re establishing a longer-term position. You hold it over years. This isn’t just a trade. You buy it for a reason, but the market is skewed, it is heavily leveraged, which is why you’ll see increased volatility.”
In line with the views of Fink and Bernstein, Strategy announced a recent acquisition of 10,624 BTC ($962.7 million) at an average of $90,615 per coin on Monday. Bitwise European head of research Andre Dragosch remarked that Strategy’s purchase “was the largest since July 2025.”
While Bitcoin’s recovery from its November 21 low of $80,612 has paralleled the rise in investor sentiment, the price remains confined within the $90,000 to $93,000 range. On Saturday, chartered market technician Aksel Kibar commented,
“This is part of the erratic price action where BTC/USD might be attempting to identify a bottom. Technical support lies below between $73.7K and $76.5K. It took several months in the March-May period to form that short-term double bottom.”
Related: Did BTC’s Santa rally commence at $89K? 5 things to know in Bitcoin this week
Data on cumulative volume from Hyblock offers a more detailed perspective, indicating rising participation from investors in the 0 to 100 BTC trading category, which some analysts label as retail. Larger trade sizes in the 1,000 to 100,000 and 100,000 to 1 million categories (cumulative volume delta) seem to be selling 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 barrier of asks starting at $90,000 and firming up from $94,000 to $95,000.
Conversely, liquidation heatmap data indicates short liquidity at $94,000 to $95,300, which could provide the impetus for bulls to strive for a run towards $100,000 if the market offers enough catalysts to stimulate an increase in either spot or futures buying.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
