The price of Bitcoin continues to test resistance at the level of $90,000, amid intense buying activity from what is known as the “Bitfinex whale,” which acquires 450 Bitcoins daily, according to statements by Adam Back, the CEO of Blockstream. This whale previously bought 300 Bitcoins daily, roughly equivalent to the amount of Bitcoin mined globally each day.

Data from Santiment showed that large wallets, or “whales and sharks,” added 36,322 Bitcoins over nine days despite weak market sentiment. At the same time, Glassnode's analyses indicated that the market remains in a moderately bearish phase, with support at the range of $84,000–$88,000 and resistance between $90,000–$93,400, while futures and options trading continued without significant momentum.

While some analysts suggest that the expected price range over the next three to six months may vary between $80,000 and $110,000, others believe that breaking the $80,000 level could open the door for an additional downward wave towards the mid-sixties, while stability in market sentiment and increased institutional liquidity may push for a retest of the previous peak at $108,000.