As the crypto market begins to recover, a sleeping whale has resurfaced and withdrawn a massive amount of 171 BTC worth $15.79 million, signaling a potential accumulation phase.
Is Bitcoin’s Downtrend Coming to an End?
Bitcoin’s broader trend remains bearish as the asset moves within a lower-high and lower-low structure. The recent upward move has pushed BTC back into the lower region.
If BTC breaks above this structure, there is a good chance that it will end the long-term bearish trend and move into a bullish phase.
Whales’ interest in Bitcoin [BTC] continues to rise while the price steadily recovers.
Over the past two trading sessions, Bitcoin is up over 8.3% at the time of writing, in line with the broader market and maintaining its uptrend.
Sleeping Whale Resumes Bitcoin Accumulation
Amid the improving market sentiment, a blockchain-based transaction tracker, Onchain lensshared a post on X (formerly Twitter) highlighting the whale activity, which is attracting widespread attention.
The post reported that the whale wallet address “34qy7UD” resurfaced after a year of inactivity and withdrew a significant 171 BTC worth $15.79 million from Binance.
The withdrawal of whales from the stock markets often signals accumulation and can serve as an early indicator of trend reversals. In this case, the pullback coincided with the market recovery, potentially increasing buying pressure on the asset.
Bitcoin’s Open Interest Suggests…
Despite the massive asset withdrawal, the price of BTC remains sideways. According to CoinMarketCap, BTC was trading at $93,050 at the time of writing and was up slightly by 0.05% in the past 24 hours.
With the price moving sideways, market participation has declined significantly, as reflected in trading volume, which fell 21% to $70.16 billion.
Bitcoin’s Open Interest (OI) has reflected its price and is showing only minor movement, according to data from derivatives platform CoinGlass.
Total OI for BTC futures fell 0.70% to $60.19 billion over the past 24 hours, indicating reduced trading activity and lower leverage as participants wait for clearer market direction.
BTC is testing the falling trendline resistance
AMBCrypto’s technical analysis on the daily chart shows that BTC has successfully regained its key support level of $92,000, which it lost on November 20, 2025.
Despite regaining this support, a major concern for upside momentum is the broader market structure, as BTC has formed lower highs and lower lows while facing resistance from a descending trendline.
Source: trading view
The daily chart shows that Bitcoin’s recent upward momentum has taken it to a trendline known for triggering reversals.
If whale accumulation and buying pressure fail to break through this resistance, the price could fall again.
However, a decisive move above the long-term downtrend line would mark the end of the bearish phase and potentially open the path to $100,000.
In addition to price action, the Average Directional Index (ADX) indicates strong momentum. At the time of writing, the ADX was at 37.27, well above the key threshold of 25 that distinguishes strong from weak trends.
At the same time, the 200-day Exponential Moving Average (EMA) remained above Bitcoin’s price, underscoring that the broader market trend is still bearish.
Bitcoin’s Major Liquidation Levels
Given current market sentiment, derivatives platform CoinGlass signals a strong battle between bulls and bears as the price continues to move sideways.
CoinGlass data shows that $91,138 and $94,490 are the top two liquidation levels for Bitcoin, with traders currently over-indebted.
Source: CoinGlass
The data also shows that traders at these levels have built up $571.51 million in long positions and $681.32 million in short positions.
This heavy positioning on both the top and bottom highlights the intense competition between bulls and bears.
Final thoughts
- The accumulation of whales and strong momentum indicators suggest that Bitcoin could be approaching a crucial breakout moment.
- However, heavy debt and falling trendline resistance keep the broader market outlook cautiously bearish.