As the crypto market begins to rebound, a dormant whale has resurfaced and withdrawn a massive 171 BTC worth $15.79 million, signaling a potential accumulation phase.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 has been moving within a lower-high and lower-low structure. The recent upside move has pushed BTC back toward its lower-high region.
If BTC breaks above this structure, there is a strong possibility it could end the prolonged bearish trend and shift into a bullish phase.
Whales’ interest in Bitcoin [BTC] continues to rise as the price steadily rebounds.
Over the past two trading sessions, Bitcoin has risen more than 8.3%, at the time of writing, moving in step with the broader market and maintaining its upward trend.
Dormant whale resumes Bitcoin accumulation
Amid the improving market sentiment, a blockchain-based transaction tracker, Onchain Lens, shared a post on X (formerly Twitter) highlighting whale activity, which is drawing widespread attention.
In the post, it was reported that the whale wallet address “34qy7UD” resurfaced after being dormant for a year and withdrew a substantial 171 BTC worth $15.79 million from Binance.
Whale withdrawals from exchanges often signal accumulation and can serve as an early indicator of trend reversals. In this case, the withdrawal coincided with the market rebound, potentially adding buying pressure to the asset.
Bitcoin’s Open Interest suggests…
Despite the massive asset withdrawal, BTC’s price remains sideways. According to CoinMarketCap, BTC was trading at $93,050 at press time and recorded a slight 0.05% increase over the past 24 hours.
With the price moving sideways, market participation has declined notably, as reflected in Trading Volume, which dropped by 21% to $70.16 billion.
Bitcoin’s Open Interest (OI) has mirrored its price, showing only minor movement, according to data from derivatives platform CoinGlass.
Total BTC futures OI fell 0.70% in the past 24 hours to $60.19 billion, signaling reduced trader activity and lower leverage as participants await clearer market direction.
BTC tests descending trendline resistance
AMBCrypto’s technical analysis on the daily chart reveals that BTC has successfully reclaimed its key support level at $92,000, which it lost on November 20, 2025.
Despite reclaiming this support, a major concern for upward momentum is the broader market structure, as BTC has been forming lower highs and lower lows while facing resistance from a descending trendline.
Source: Trading View
The daily chart shows Bitcoin’s recent upward momentum has brought it to a trendline known for triggering reversals.
If whale accumulation and buying pressure fail to break through this resistance, the price could once again decline.
However, a decisive move above the prolonged descending trendline would mark the end of the bearish phase and potentially open the path toward $100,000.
Beyond price action, the Average Directional Index (ADX) points to strong momentum. At press time, the ADX stood at 37.27, well above the key threshold of 25, which separates 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 the current market sentiment, derivatives platform CoinGlass indicates a strong tug of war between bulls and bears as the price continues to move sideways.
CoinGlass data shows that $91,138 and $94,490 are the two major liquidation levels for Bitcoin, where traders are currently over-leveraged.
Source: CoinGlass
The data further reveals that traders have built $571.51 million worth of long positions and $681.32 million worth of short positions at these levels.
This heavy positioning on both the upper and lower sides highlights the intense competition between bulls and bears.
Final Thoughts
- Whale accumulation and strong momentum indicators suggest Bitcoin could be nearing a pivotal breakout moment.
- However, heavy leverage and descending trendline resistance keep the broader market outlook cautiously bearish.
Source: https://ambcrypto.com/15-79m-btc-whale-move-sparks-buzz-can-bitcoin-finally-target-100k/
