Market reacts cautiously as BTC holds below $90K

Market reacts cautiously as BTC holds below $90K

The sudden surge in whale activity comes as Bitcoin’s price struggles to regain upward momentum. BTC traded near $89,300 at press time, down 3% on the day and still below the $92,000 level that capped recent rebound attempts.

Market structure remains weak, with the daily RSI at 42, indicating subdued momentum. Traders remain sensitive to any large transfers from older wallets, especially during broader downturns when liquidity thins and volatility spikes.

Why early-wallet movements matter

Early Bitcoin wallets are usually owned by miners, cypherpunks, or early investors who accumulated BTC when prices were a fraction of today’s levels. 

Their coins carry historical significance, and any movement raises questions about whether long-term holders are repositioning or preparing for eventual liquidation.

For now, neither of the two wallets shows exchange-linked behaviour. Analysts will continue to watch whether the BTC is split, moved again, or eventually sent to a known trading venue