Bitcoin Bulls Should Watch $99K As Key Resistance Level

Bitcoin’s price has recently corrected from higher levels, now hovering near $90,000. Analysts are closely watching whether BTC can overcome key resistance levels in the near term. On-chain data suggests a critical level at $99,000 might become a focal point for market participants.

New whale investors, who acquired their Bitcoin in late 2025, now hold an average entry price near $99,000. This means that if the price rises toward that level, these investors could be incentivized to sell to break even or limit losses.

Such selling activity could introduce downward pressure as large holders exit the market at or near their cost basis. This creates a psychological and technical resistance at $99K, complicating further price gains.

Long-term whale investors and miners are in a more favorable position. Long-term holders have an average acquisition cost of $39,681, while miner whales hold BTC at $58,681 on average. These groups are currently holding profitable positions, which means they are less likely to sell unless strong profit-taking emerges.

Exchange inflows remain a key indicator for Bitcoin’s price direction. In recent days, large amounts of BTC and ETH have moved into exchanges, signaling potential selling activity.

Whale movements are another important factor. Large Bitcoin holders have not shown signs of buying back in after liquidating positions during the fourth quarter of 2025. This trend suggests ongoing caution among major investors.

The $94K level represents a key resistance for Bitcoin in the short term. Failure to break above this level could trigger further liquidation and a move toward $85K, which has previously held as a strong support.

Market participants are also paying attention to the $99K level for another reason: it aligns with the cost basis of new whales. A sustained move above this level could signal renewed confidence in the bull case for BTC.

Bitcoin’s price is currently caught between conflicting signals. On-chain data shows reduced selling pressure from long-term holders, but whale activity and exchange flows point to potential volatility. This divergence means that price could consolidate for some time before finding a clear direction.

Why Did This Happen?

Bitcoin’s recent correction reflects a mix of market forces. On-chain data indicates that new whales are holding BTC at a higher cost basis, which could create selling pressure if BTC moves upward.

Meanwhile, long-term holders and miners are in profit and have not shown signs of aggressive selling. This structural support suggests that the overall bearish momentum may not be strong enough to drive BTC significantly lower.

The current price action is also being influenced by macroeconomic factors. Institutional flows and ETF activity have fluctuated in early 2026, with spot Bitcoin ETFs seeing outflows in the first week of the year.

What Are Analysts Watching Next?

Analysts are closely monitoring several key metrics. Whale activity on the blockchain is a major focus, particularly the movement of large BTC holdings to and from exchanges. These movements can provide early signs of market sentiment.

Exchange inflows and outflows are another important factor. Large inflows typically indicate potential selling, while outflows suggest holding or accumulation by large investors.

Bitcoin’s ability to close above $99K is seen as a potential catalyst for the bull case. A move above this level could indicate that new whale investors are no longer a drag on the price and that broader demand is gaining strength.

What If It Fails to Break Above $99K?

Failure to break above $99K could prolong the consolidation phase for Bitcoin. This would mean that new whale investors would remain a source of potential selling pressure until the price moves beyond their average cost basis.

A failure to clear $94K could also trigger further downward movement, with $85K as a potential support level. This would test whether long-term holders and institutional investors are willing to provide additional support.

Market analysts are also watching for signs of profit-taking from long-term investors. If this begins to accelerate, it could signal a shift in market sentiment and increase the likelihood of a near-term correction.