Bitcoin price has spent several trading days trying to secure a daily close above the $90,000 mark. The cryptocurrency king has been hovering below this psychological barrier for nearly three weeks.
This prolonged consolidation suggests momentum is building, although fresh whale selling could still delay a decisive breakout.
Since late December 2025, whale activity has intensified. Wallets holding between 10,000 BTC and 100,000 BTC collectively sold over 50,000 BTC in just four days, with their balances reaching a two-month low. At current prices, those sales amounted to more than $4.47 billion, reflecting the caution of the largest holders.
This sell-off typically signals a decline in confidence among influential market participants. Giant whales often shape broader price trends because of their size. Despite this pressure, Bitcoin prices continue to rise, suggesting that demand from other groups is absorbing supply and supporting the current rise.
Macro data provides additional context for Bitcoin’s resilience. The cost base distribution heat map identifies three key areas of resistance. The first one (the red line above the price), located between $88,000 and $88,500, accumulated approximately 201,474 BTC, forming a strong demand base.
The next resistance level appears near $90,500, a level associated with purchases totaling 97,766 BTC. Clearing this area without triggering a massive sell-off could unlock further upside. Beyond this, $92,700 emerged as the main level, supported by historical accumulation of approximately 170,763 BTC.
Bitcoin has broken out of the lower resistance band, adding to recent strength. The ability to remain above $88,500 could reduce downside risks. However, continued progress now depends on market participants resisting the urge to allocate at higher cost base levels.
As of this writing, Bitcoin is trading near $89,543, still below a one-month downward trendline. Despite technical limitations, price action continues to compress towards the $90,000 threshold. This setup often precedes strong directional movement as momentum builds.
A break above $90,000 seems increasingly likely. Gaining support at $90,308 would confirm bullish continuation. If this materializes, Bitcoin’s next target could be $92,031, assuming whale selling pressure abates and broader demand remains unchanged.
Downside risks remain if giant whale distribution accelerates. Increased selling may prevent a breakout and push BTC back to the $88,210 support. The move will extend range trading and delay confirmation of a sustained rally above $90,000.
Read the original story by Aaryamann Shrivastava on beincrypto.com “Whale selling puts pressure on $4.4 billion, Bitcoin hovers below $90,000”
