The price of Bitcoin remains above $92,000 as long-term holders absorb the supply, while new on-chain data indicates a tightening market poised for a possible breakout.
Summary
- Bitcoin approaches $93K as long-term holders accumulate assets.
- Binance data reveals a notable divergence marked by record withdrawals and low deposits.
- Technical analysis suggests a tightening volatility pattern that could signal a breakout.
As of the latest update, Bitcoin was priced at $92,534, reflecting a 2.5% increase over the last 24 hours. The weekly trading range is between $88,202 and $94,267, with the asset still 26% lower than its all-time high of $126,080 in October.
Trading volume in the last 24 hours was recorded at $46 billion, a 19% decrease, indicating diminished activity following a volatile week. According to CoinGlass data, derivatives volume saw a 9% decline to $93 billion, while open interest rose by 1.9% to $59 billion, suggesting that traders are initiating new contracts even as spot trading cools off.
This scenario typically indicates that short-term traders are waiting for a significant market movement instead of exiting trades.
Long-term wallets persist in absorbing BTC supply
In a December 12 post on X, CryptoQuant contributor Darkfost reported that accumulation wallets have been consistently acquiring Bitcoin (BTC). From December 1 to December 10, these wallets accumulated 75,000 BTC, including a significant purchase of 40,000 BTC in one day, between December 9 and 10.
Currently, these wallets hold approximately 315,000 Bitcoin. Excluding exchanges, miners, and smart contracts, they exhibit certain traits: no outgoing transactions, regular inflows, a minimum balance threshold, and activity records extending over at least 7 years.
📈 BTC buying from accumulator addresses just doesn’t stop.
Between December 1 and December 10, more than 75 000 BTC were added to the supply held by these very specific types of addresses.
💥 In just a single day, from December 9 to December 10, 40 000 BTC were accumulated.… pic.twitter.com/EncexfMUbw
— Darkfost (@Darkfost_Coc) December 11, 2025
Another contributor from CryptoQuant, CryptoOnchain, highlighted a notable divergence in Binance activity. On December 3, the 30-day estimated moving average of Bitcoin withdrawals hit 3,100 transactions—the highest since May 2018. Meanwhile, deposits dropped to around 320 transactions, the lowest since 2017.
This trend signifies a supply squeeze, where coins are moving off exchanges for self-custody while fewer traders are depositing BTC to sell or take profit. Historically, such circumstances often precede significant bullish movements.
Technical analysis of Bitcoin price
Following a recovery above the $90,000 mark, Bitcoin is currently trading within the middle region of the Bollinger Bands. The candles remain below the upper band, hinting that while the market is attempting a recovery, it hasn’t yet gained complete momentum.
The 20-day moving average is presently utilized as a short-term indicator for buyers.
At this time, the relative strength index stands at 49, signifying neutral strength after recovering from the oversold conditions noted in late November. Furthermore, stochastic readings around 78 suggest indecision rather than exhaustion.
When examining the moving averages, Bitcoin is positioned above the 10-day and 20-day MAs, while the 50-day, 100-day, and 200-day averages remain above the current price, indicating that the broader trend is still in recovery mode.
A closing price above $94,500 could pave the way to $100,000, especially if the strength of on-chain withdrawals persists. A breach of the upper Bollinger Band would provide buyers with a clear signal. Conversely, failing to maintain the $90,000–$91,000 range could lead to a decline toward $86,500, where the lower band and a key liquidity zone converge.
