Key points:
Bitcoin whales are adding to their BTC positions while price ranges below all-time highs.
If a new market correction comes, one potential bounce level lies in the mid-$90,000 zone.
Hyperliquid trader James Wynn hints at large-volume traders shaping low-timeframe price performance.
Bitcoin (BTC) may see support only at $94,000 if a fresh BTC price correction ensues, new analysis says.
In its latest X commentary, Keith Alan, co-founder of trading resource Material Indicators, pointed to a Bitcoin bounce zone at the 21-week moving average.
Bitcoin whales jump in amid “consolidating” price
Bitcoin continues to track sideways within a $5,000 range after hitting all-time highs of $112,000, data from Cointelegraph Markets Pro and TradingView shows.
For Alan, the market is giving off positive signals on its future trajectory, with large-volume traders adding to their BTC exposure at current levels.
“BTC is consolidating above $100k and whales are accumulating,”