Bitcoin has been trading within a narrow range for the past twelve days, holding above the $94K level while struggling to break past the $100K mark. This prolonged consolidation has left investors uncertain about the short-term direction, with divided opinions suggesting either an imminent breakout into all-time highs or a continuation of selling pressure into lower price levels.
Market sentiment remains mixed, as some analysts argue that BTC is building momentum for a significant rally, while others warn that the lack of sustained buying pressure could result in a deeper correction. The overall market conditions reflect heightened speculation, with traders closely monitoring key support and resistance levels for confirmation of the next move.
Despite the uncertainty, CryptoQuant data reveals that Bitcoin’s underlying demand remains strong. While demand for BTC has declined compared to the $60K–$100K price range, it is still positive and above average values. This suggests that buyers are accumulating, albeit at a slower pace, reinforcing the idea that the current range could be a period of healthy consolidation rather than an early sign of a major downturn. The coming days will be crucial in determining whether BTC can break out of its range and resume its uptrend or face renewed selling pressure.
Bitcoin Demand Remains Strong At Current Levels
Bitcoin continues to show resilience despite failing to confirm a short-term direction, maintaining its long-term bullish structure. The market remains in a consolidation phase, with BTC trading between the $94K and $100K levels, leaving investors uncertain about its next move. However, underlying demand suggests that Bitcoin’s overall trajectory remains strong.
Top analyst Axel Adler shared CryptoQuant data on X, revealing that although the demand for Bitcoin has declined compared to the $60K–$100K range, it remains positive and above average values. This indicates that while the pace of accumulation may have slowed, it has not reversed, reinforcing confidence in BTC’s long-term potential.
The Bitcoin Demand/Price Ratio is crucial in assessing Bitcoin’s market strength. This ratio reflects how much “accumulated demand” corresponds to each unit of Bitcoin’s price, providing insight into how well the current price is supported. When the ratio is above zero, it signals robust demand relative to price, potentially suggesting further price appreciation. Conversely, if the ratio drops below zero, it indicates weaker demand and minimal influence on price movements, which could lead to a deeper correction.
Another critical factor to consider is the impact of declining demand at higher price levels. While BTC remains within its consolidation range, strong demand above the $94K mark suggests that long-term holders are confident in the current price structure. This could set the stage for an aggressive move in the coming weeks.
Ultimately, Bitcoin’s ability to maintain demand at these levels will determine whether it pushes above the $100K mark or faces further corrections. With accumulation trends still intact, BTC’s consolidation phase could be a preparation for its next major breakout, signaling renewed bullish momentum in the market.
BTC Price Action: Testing Short-Term Liquidity Levels
Bitcoin is trading at $96,100 after days of sideways trading in a narrow range, struggling to find a clear direction. The price has consistently closed between $95,700 and $97,800 for twelve consecutive days, highlighting a phase of indecision where neither bulls nor bears have taken control. This lack of movement has left traders uncertain about the short-term outlook, as many expect an imminent breakout.
While the long-term trend remains bullish, the short-term price action has fueled speculation and concern among investors. Sentiment remains divided, with some analysts calling for a continuation of the uptrend, while others fear a deeper correction if BTC fails to reclaim key levels.
If Bitcoin manages to reclaim the $100K mark in the coming days, it could trigger a strong rally toward new all-time highs. Holding above this psychological level would signal renewed strength, attracting more buyers and fueling further price appreciation.
On the other hand, losing the $94K support could spark increased selling pressure, pushing BTC into lower demand zones. A drop below this level might indicate a shift in momentum, potentially leading to a correction toward $90K. For now, all eyes remain on Bitcoin as traders await the next major move.
Featured image from Dall-E, chart from TradingView
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