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Bitcoin is trading near $92,000 as December sees heavy distribution from large holders and steady absorption by long-term wallets. According to Glassnode, since December 1, 3.37 billion Bitcoin have been transferred by non-exchange transaction entities. Concurrently, on-chain and derivative indicators suggest a decrease in liquidity and heightened tension around critical price levels.
BTC was trading around 92,250 in early Asian trading after the Federal Reserve reduced rates the previous week. Bitcoin price is below the resistance zone of $94,000, and the nearest support is around $90,000 and $88,000. This ambivalent setting emphasizes whether, in the current flows, there is preparation for expansion or further consolidation.
Bitcoin whales with balances between 10,000 and 100,000 BTC reduced exposure during December. Glassnode data shows this cohort sold or redistributed about 36,500 BTC over twelve days. The value of these transfers reached roughly $3.4 billion at current prices.
These entities often include institutional custodians and early miners. Their activity marked a shift from accumulation toward distribution for this group. The timing aligned with Bitcoin’s repeated failure to clear resistance near $94,000.
As a result, analysts observed selling pressure within the $88,000 to $94,000 range. This behavior contrasted with elevated retail interest following the Federal Reserve’s policy move. The divergence added uncertainty around the short-term direction.
Market depth has weakened during the same period. Stablecoin inflows, which act as a proxy for fresh buying power, fell sharply. Bitcoin movement data showed a 50% drop in stablecoin inflows since August.
This fall indicated that there was not much capital to launch an aggressive push beyond $100,000. Bitcoin traded steadily around the $ 92,000 mark as markets showed deeper macro movement. The Federal Reserve also indicated it would buy 40 billion in Treasury bills each month.
Institutional interest still appeared active through exchange-traded products. Bitcoin and Ethereum ETFs recorded more than $610 million in inflows over two days. According to market observers, a daily close above $94,140 remains critical for upside continuation.
Also Read: Bitcoin on a Wild Ride: How Central Banks Could Impact its Path?
While whales are distributed, long-term accumulation wallets absorbed the supply. CryptoQuant data showed these addresses added 75,000 BTC between December 1 and December 10. One day accounted for a 40,000 BTC increase.
These wallets share defined characteristics. They show no outgoing transactions and frequent inflows. Most have activity histories spanning at least seven years. Exchange data added another layer to the setup. Binance withdrawals reached a 30-day average of 3,100 transactions on December 3. Deposits dropped to about 320 transactions, the lowest since 2017.
Bitcoin remains range-bound near $92,000 as Bitcoin whales sold $3.4B in December while long-term holders absorbed supply. Liquidity has thinned as stablecoin inflows dropped sharply. ETF inflows show institutional interest, yet price direction now depends on whether BTC can reclaim $94,000 or hold $88,000 support.
