Bitcoin price is climbing again. After plunging below $100,000 on Tuesday for the first time since June, Bitcoin (BTCUSD) has rebounded sharply above $103,000, rising nearly 1.99% in the last 24 hours. It’s now trading around $103,494, up about $2,025 from yesterday’s close. The recovery comes as traders digest a brutal week that saw Bitcoin tumble over 20% from its all-time high of $126,296 set just a month ago. The daily range between $98,950 and $104,026 shows how volatile the market remains. Bitcoin’s total market cap now sits near $2.04 trillion, with $793.8 million in trading volume over the past 24 hours.
But beneath the rebound lies a deeper concern — long-term holders are selling big. According to 10x Research, veteran investors have offloaded around 400,000 BTC in the last month, worth nearly $45 billion. Markus Thielen, the firm’s head of research, warned that this “massive exodus” has left the market unbalanced. “Conviction among long-term holders is eroding,” he said, adding that the selling pressure could continue well into next year.
Data from K33 Research shows over 319,000 Bitcoin have been reactivated from wallets dormant for six to twelve months — a clear sign of profit-taking. “While some reactivation stems from internal transfers, much reflects real selling,” said Vetle Lunde, head of research at K33. The pattern suggests many investors are locking in gains as prices stall, with confidence slipping after months of strong momentum.
Unlike the October crash, when $19 billion in leveraged positions were wiped out, this selloff has been driven mainly by spot market selling. In the past 24 hours, only $2 billion in crypto positions were liquidated — modest compared to prior washouts. This means the pressure is coming from investors willingly exiting, not from margin calls. Meanwhile, open interest in Bitcoin futures remains muted, and options traders are loading up on put contracts targeting $80,000, signaling expectations of more downside.
Thielen said the key driver now is the imbalance between sellers and buyers. “The whales are just not buying,” he noted, pointing out that wallets holding 100–1,000 BTC have sharply cut accumulation. Institutional demand, which once cushioned Bitcoin’s pullbacks, has also cooled. With the 50-day moving average around $113,379 and the 200-day near $109,952, Bitcoin remains technically in a bearish zone.
Looking ahead, Thielen expects the unwind to last until spring 2026, similar to the 2021–2022 bear market, when over 1 million BTC were sold by large holders over several months. He doesn’t expect a collapse but sees room for a further decline toward $85,000, his maximum downside target. “We could see Bitcoin consolidating or drifting slightly lower from here before stability returns,” he said.
Despite the fear, institutional interest hasn’t vanished completely. Some analysts argue this reset could strengthen Bitcoin’s long-term setup, allowing a healthier base before the next rally. For now, all eyes are on the $100,000 mark — the new psychological floor. Holding that level could mean the correction is near its end. But slipping below it again might trigger the next leg of this crypto downturn.
Bitcoin price prediction: The near-term outlook suggests cautious consolidation around $100K–$105K, with upside resistance near $110K and a potential downside floor around $85K if selling continues. The next few weeks will reveal whether Bitcoin’s bounce is the start of recovery or just a brief relief rally before another wave of pressure hits.
At current levels, Bitcoin’s market capitalization stands near $2.04 trillion, with $793.8 million in trading volume over the last 24 hours. The digital asset opened at $101,468, the same as its previous close, suggesting cautious sentiment among traders.
Data from K33 Research shows that 319,000 Bitcoin have been reactivated in recent weeks, mostly from wallets inactive for six to twelve months — a clear sign of profit-taking. “While some reactivation stems from internal transfers, much reflects real selling,” said Vetle Lunde, head of research at K33.
Unlike October’s crash, which was fueled by forced liquidations, the current slide stems from steady selling in the spot market. Around $2 billion in crypto positions were liquidated over the last day — far below the $19 billion wiped out in October’s derivatives-driven crash.
Open interest in Bitcoin futures remains subdued, while options traders are increasingly betting on downside risk, with many targeting the $80,000 level through put contracts.
“The whales are just not buying,” Thielen said, warning that this imbalance could keep pressure on prices.
Bitcoin’s 50-day moving average sits at $113,379, while the 200-day average is around $109,952 — both above current prices, signaling a bearish setup. Thielen expects the ongoing unwind to continue well into spring 2026, possibly mirroring the 2021–2022 bear cycle, when over 1 million BTC were sold across a year.
While he doesn’t expect a crash, Thielen sees potential for further declines, with a maximum downside target of $85,000. “We could consolidate and drift a bit lower from here,” he said.
Despite the selloff, institutional interest remains firm, suggesting the correction may represent a healthy reset rather than a deeper collapse. Traders are closely watching whether Bitcoin can hold above $100,000, which may define the next trend in the crypto market.
But beneath the rebound lies a deeper concern — long-term holders are selling big. According to 10x Research, veteran investors have offloaded around 400,000 BTC in the last month, worth nearly $45 billion. Markus Thielen, the firm’s head of research, warned that this “massive exodus” has left the market unbalanced. “Conviction among long-term holders is eroding,” he said, adding that the selling pressure could continue well into next year.
Data from K33 Research shows over 319,000 Bitcoin have been reactivated from wallets dormant for six to twelve months — a clear sign of profit-taking. “While some reactivation stems from internal transfers, much reflects real selling,” said Vetle Lunde, head of research at K33. The pattern suggests many investors are locking in gains as prices stall, with confidence slipping after months of strong momentum.
Unlike the October crash, when $19 billion in leveraged positions were wiped out, this selloff has been driven mainly by spot market selling. In the past 24 hours, only $2 billion in crypto positions were liquidated — modest compared to prior washouts. This means the pressure is coming from investors willingly exiting, not from margin calls. Meanwhile, open interest in Bitcoin futures remains muted, and options traders are loading up on put contracts targeting $80,000, signaling expectations of more downside.
Thielen said the key driver now is the imbalance between sellers and buyers. “The whales are just not buying,” he noted, pointing out that wallets holding 100–1,000 BTC have sharply cut accumulation. Institutional demand, which once cushioned Bitcoin’s pullbacks, has also cooled. With the 50-day moving average around $113,379 and the 200-day near $109,952, Bitcoin remains technically in a bearish zone.
Looking ahead, Thielen expects the unwind to last until spring 2026, similar to the 2021–2022 bear market, when over 1 million BTC were sold by large holders over several months. He doesn’t expect a collapse but sees room for a further decline toward $85,000, his maximum downside target. “We could see Bitcoin consolidating or drifting slightly lower from here before stability returns,” he said.
Despite the fear, institutional interest hasn’t vanished completely. Some analysts argue this reset could strengthen Bitcoin’s long-term setup, allowing a healthier base before the next rally. For now, all eyes are on the $100,000 mark — the new psychological floor. Holding that level could mean the correction is near its end. But slipping below it again might trigger the next leg of this crypto downturn.
Bitcoin price prediction: The near-term outlook suggests cautious consolidation around $100K–$105K, with upside resistance near $110K and a potential downside floor around $85K if selling continues. The next few weeks will reveal whether Bitcoin’s bounce is the start of recovery or just a brief relief rally before another wave of pressure hits.
Bitcoin price rebounds but market remains fragile
Bitcoin (BTCUSD) rose 1.99% to around $103,494, recovering from a sharp drop below $100,000 earlier this week. The world’s largest cryptocurrency gained about $2,025 in the past 24 hours after Tuesday’s 7.4% plunge — its steepest fall since June. The day’s trading range hovered between $98,950 and $104,026, showing the ongoing market volatility.At current levels, Bitcoin’s market capitalization stands near $2.04 trillion, with $793.8 million in trading volume over the last 24 hours. The digital asset opened at $101,468, the same as its previous close, suggesting cautious sentiment among traders.
Long-term holders dump $45 billion in Bitcoin
The latest correction wasn’t triggered by leverage this time. Instead, it’s being driven by long-term Bitcoin holders unloading nearly 400,000 BTC, worth around $45 billion, over the past month. According to Markus Thielen of 10x Research, this wave of selling has left the market “unbalanced.”Data from K33 Research shows that 319,000 Bitcoin have been reactivated in recent weeks, mostly from wallets inactive for six to twelve months — a clear sign of profit-taking. “While some reactivation stems from internal transfers, much reflects real selling,” said Vetle Lunde, head of research at K33.
Why Bitcoin fell below $100,000
Bitcoin dropped below $100,000 for the first time since mid-June, marking a 20% decline from its record high of $126,296 reached last month. The pullback follows a broader “risk-off” shift across financial markets as investors reassess inflation and rate-cut expectations.Unlike October’s crash, which was fueled by forced liquidations, the current slide stems from steady selling in the spot market. Around $2 billion in crypto positions were liquidated over the last day — far below the $19 billion wiped out in October’s derivatives-driven crash.
Open interest in Bitcoin futures remains subdued, while options traders are increasingly betting on downside risk, with many targeting the $80,000 level through put contracts.
Whale activity points to fading confidence
According to Thielen, Bitcoin’s direction now depends on how quickly new buyers can absorb the coins long-term holders are selling. “Mega whales,” who hold between 1,000 and 10,000 BTC, started reducing their exposure months ago. Institutional buyers have slowed down, and accumulation among wallets holding 100–1,000 BTC has dropped sharply.“The whales are just not buying,” Thielen said, warning that this imbalance could keep pressure on prices.
Bitcoin’s 50-day moving average sits at $113,379, while the 200-day average is around $109,952 — both above current prices, signaling a bearish setup. Thielen expects the ongoing unwind to continue well into spring 2026, possibly mirroring the 2021–2022 bear cycle, when over 1 million BTC were sold across a year.
While he doesn’t expect a crash, Thielen sees potential for further declines, with a maximum downside target of $85,000. “We could consolidate and drift a bit lower from here,” he said.
Despite the selloff, institutional interest remains firm, suggesting the correction may represent a healthy reset rather than a deeper collapse. Traders are closely watching whether Bitcoin can hold above $100,000, which may define the next trend in the crypto market.
