Bitcoin tests the upper end above $90,000 despite a renewed whale sell-off…focus turns to on-chain absorption
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Summary
- Bitcoin is attempting to push higher after breaking above $90,000, supported by on-chain signals, despite a renewed sell-off by long-term holding whales.
- With accumulation continuing, accumulator addresses were said to have added another 136,000 BTC over about 11 days so far in 2026.
- The market is discussing the prospect of a $100,000 test if a rebound follows absorption of the $89,200–$89,700 liquidity zone, and risk of a pullback to $84,000–$86,000 if it fails.
Selling by long-term Bitcoin (BTC) whale holders has been detected, but on-chain signals simultaneously suggest the market has the capacity to absorb it.
According to Cointelegraph on the 13th (local time), Bitcoin is probing the upside after breaking above the $90,000 level, even as long-term whale selling has resumed, with on-chain signals indicating the sell pressure can be absorbed. Prices have continued to fluctuate around $90,000, and the possibility of a near-term pickup in volatility is also being discussed.
According to Capriole Investments data, the amount moved by so-called “OG whales” that had been dormant for more than seven years jumped to about $286 million last Saturday. That is the largest figure since a surge of about $570 million on Nov. 3 last year, which at the time coincided with a Bitcoin price pullback. Still, the latest move is being interpreted as more akin to strategic profit-taking than panic selling.
Supply-side pressure appears more subdued than before. Glassnode said distribution by long-term holders has slowed sharply, and net outflows have retreated from prior extremes. That suggests a significant portion of overhead supply from older coins may already have been absorbed. On the demand side, accumulation continues. “Accumulator addresses,” which keep buying without distributing, added about 136,000 BTC over roughly 11 days so far in 2026.
Technical indicators are also improving. Bitcoin’s 5-day moving MACD flashed a bullish turn, which some view as the first such signal since around the lows of the 2022 bear market. Analyst Myles G said that “past similar signals have been followed by gains of more than 400%.” However, a near-term pullback is also being cited. Trader Killa noted that “a retracement of around 5% on a weekly basis has repeated for seven consecutive months,” adding that it “could pull back to the $86,000–$87,000 range.”
The market backdrop is gradually shifting toward buyers. Analyst OSHO said that in spot and futures markets, bid orders are exceeding asks, and that liquidity is concentrated in the $89,200–$89,700 zone, which could act as a key pivot. Market participants say that if the zone is absorbed and a rebound is confirmed, the door could open to a test of the psychological resistance at $100,000. Conversely, if a rebound fails, downside risks include $86,000 and, over a longer horizon, a pullback to around $84,000.
