Bitcoin, short-term rebound weakens… Pressured by long-term holders selling?

Source: DigitalToday Original Title: Bitcoin, Short-Term Rebound Weakening… Under Pressure from Long-Term Holders’ Selling? Original Link:

Bitcoin appeared to be recovering with a slight increase, but the rebound is currently being weighed down by recent bearish pressure.

Bitcoin’s key support levels are wavering, and the technical structure is gradually tilting bearish. Currently, Bitcoin is down 1.36% over the past 24 hours, hovering above $92,000.

On the 12-hour chart, Bitcoin attempted an inverse head-and-shoulders pattern, but repeated failures to break through the crucial $93,200 level have weakened upward momentum. If the pattern is invalidated, the recent recovery may be deemed a mere technical rebound.

Selling pressure from long-term holders is also a concern. The net position change of HODLers has decreased for 14 consecutive days, recently recording -168,611 BTC. Analysts point out that with long-term holders exiting the market, it is difficult for short-term investors’ buying alone to reverse the trend.

Future price movement depends on whether key support levels hold. If Bitcoin fails to reclaim $93,200, the likelihood of breaking below $90,400 increases, which could lead to a further decline toward the $84,300–$80,500 range. Conversely, only if support is secured in this zone could the bearish pattern’s deepening be limited.