Amid increasing selling pressure across the market, Bitcoin has fallen below the $100,000 mark for the first time since May and is currently trading around $97,000. Sentiment is clearly uneasy, with bulls struggling to defend key supports and traders reducing leverage and turning to stablecoins amid heightened volatility. Despite this weakness, on-chain data suggests that large buyers may already be bracing for a potential rebound.
Related books
CryptoQuant analyst Martun said a large wall of bidding has been discovered in Binance futures, indicating that aggressive buyers are stepping in to absorb the recent wave of selling. Historically, such large bids have often coincided with local rock bottom prices as whales and institutional investors are cumulatively weakened.
This new liquidity pattern may signal growing confidence among deep-pocketed players that Bitcoin’s downside may be limited. However, traders remain cautious as macro uncertainties continue to weigh on the market.
Aggressive buyers step in as bidding wall shows dip building
According to CryptoQuant analyst Maartunn, recent order book data reveals that strong support has formed in Binance futures, with two major bidding clusters emerging (one reaching around 800 BTC and the other reaching up to 2,000 BTC). This concentration of buy orders suggests that large traders, often referred to as aggressive push buyers, are actively accumulating Bitcoin at current levels near $97,000.
A bid wall of this size is important because it signals the willingness of deep-pocketed investors to absorb selling pressure and protect price levels that are perceived to be undervalued. In reality, such large orders create a temporary price floor that makes it difficult for BTC to fall further without a large selloff. This behavior is often observed during the early stages of a market reversal. While retail sentiment remains uncertain, smart money is starting to build positions.
Maartung points out that these clusters reflect renewed confidence from large traders who see long-term value despite the recent correction. If these orders remain active and liquidity continues to be absorbed, Bitcoin could stabilize above the $95,000 to $97,000 range. Historically, short-term relief rebounds have been preceded by periods of strong bid support, suggesting that the current decline may be paving the way for a broader recovery.
Related books
Bitcoin tests major support after $100,000 loss
Bitcoin’s price movement has become increasingly volatile, with the asset currently trading around $96,800, its lowest since May. The 3-day chart shows a decisive break below the psychological threshold of $100,000, confirming a short-term bearish shift with sellers in the ascendancy. Volume has spiked significantly in recent sessions, suggesting panic liquidations as traders exit leveraged positions.
The 50-day moving average has fallen below the 100-day line, suggesting a decline in momentum, but if selling pressure continues, the 200-day moving average, currently near $88,000, is the next central support zone. Despite the breakdown, prices are showing early signs of stabilizing around current levels, suggesting that bullish buyers may intervene.
Related books
Although the market structure is still in a correction trend, it is not completely bearish. Bitcoin has repeatedly found support above the 200-day moving average during previous mid-cycle retracements. A pattern that often leads to collections once they are sold out. The RSI (not shown here) may be close to oversold territory, supporting this view.
If BTC can recover and hold $100,000, a short-term relief rally towards $105,000-$108,000 could develop. However, failure to defend $95,000 could accelerate the decline towards $90,000. Overall, this chart reflects a market that is consolidating, with a balance between capitulation risk and early accumulation.
Featured image from ChatGPT, chart from TradingView.com
