Bitcoin is struggling to break the resistance level around $93,000, and its price action seems stuck. However, something notable is happening in the background: large amounts of BTC are disappearing from exchanges. This leads to less direct selling pressure and clearly signals that investors are preparing for a potential turnaround, even though the market currently feels far from bullish.
Bitcoin Supply Drops Sharply #
In the past week, investors withdrew over 23,000 bitcoin from major trading platforms. At the current price, that’s more than $2 billion, enough to bring exchange reserves to their lowest level since early 2021. During that period, sentiment was extremely optimistic—something hard to imagine now—but the wallet movements show what holders are aiming for.
The lack of selling pressure is particularly beneficial because it gives the market more breathing room. Less BTC on exchanges means less can be sold immediately. The well-known Trend Accumulation Score shows the same picture: smaller wallets are buying relatively convincingly, while larger players are participating more cautiously. This creates a kind of base of demand under the current price zones and makes the market less vulnerable to quick dumps.
However, the movement also has a downside. The real big players, institutional parties that often make the difference in heavy trends, are still waiting. Their participation usually determines whether an accumulation by retailers is converted into structural strength or merely a temporary recovery.
Bitcoin Struggles with the Trend and Eyes $95,000 #
The price itself remains trapped between crucial levels. BTC is trading around $92,000 and is so far managing to stay above the important support zone at about $91,500. But as long as the downward trendline is not broken, a brake remains on sentiment. According to analysts, a convincing move above $95,000 and then holding that price would be necessary to pull the market back towards the psychological $100,000.
In short, bitcoin remains stuck below resistance, but the declining supply on exchanges and accumulation by smaller wallets provide a basis for potential rises, according to analysts.