Mike Smith
December 11
Bitcoin (BTC) has been trading in a tight range for two weeks now, with one of the largest waves of cryptocurrency accumulation seen in recent memory.
In particular, large investors have purchased $23 billion worth of BTC, keeping its price above the key $96,000 level.
Analysis of the Cost Basis Distribution (CBD) shows that $99,559 has become the largest buying zone. Just below the $100,000 mark, investors have purchased 125,000 bitcoins.
Significant accumulation has also occurred in the $96,000–$98,000 range, where another 120,000 BTC have been purchased over the past two weeks. This data highlights that the $96,000–$100,000 range has solidified as a key support, keeping the cryptocurrency price above the lower threshold.
The defense of this level confirms the confidence of market participants. Given that the main accumulation zones are concentrated in this range, it acquires strategic importance for the future price dynamics.
Realized profit, reflecting investor activity, shows that despite accumulation, many are taking profits when the price rises. Such actions contribute to market volatility and temporary price corrections, which, however, are considered normal for any active trading environment.
The price of Bitcoin has stabilized around the $96,000 mark after an unsuccessful attempt to overcome the psychological barrier of $100,000. However, accumulation volumes in the $96,000–$100,000 range have created a solid foundation that can restrain further decline.
If BTC holds in this range, it may make another attempt to overcome the $100,000 mark. However, this level remains a strong resistance zone. If the price fails to consolidate higher, Bitcoin is likely to remain in the current sideways trend, continuing to fluctuate within the given limits.
A positive scenario suggests that if the cryptocurrency breaks above $100,000, it may continue to grow, approaching historical highs. Active accumulation at current levels underlines the high degree of investor confidence in the asset, which may contribute to further price strengthening.
