Bitcoin stabilizes near 86,000 dollars following a monthly correction that has significantly impacted major fortunes in the sector. According to recent data from Arkham Intelligence, the estimated wealth of the mysterious creator, Satoshi Nakamoto, shrank by a staggering 41 billion dollars since the October peak. The current Bitcoin price prediction analyzes whether technical indicators of exhaustion will be able to stop this bleeding and reverse the bearish trend.
Nakamoto’s holdings, amounting to 1.096 million BTC, have suffered a massive devaluation in recent weeks. The value of his assets went from 137 billion to approximately 95 billion dollars, placing him temporarily below tycoons like Bill Gates. On the other hand, the asset’s market capitalization remains above 1.71 trillion dollars. This reinforces its dominant position, although the circulating supply already reaches 19.95 million units in the global market. Technically, the price moves within a descending channel that has guided the correction since early November.
Daily chart analysis reveals clear signs of fatigue among sellers at current levels. Long wicks and consecutive spinning tops suggest that selling pressure is diminishing near the 85,500 dollar zone. Likewise, the RSI has formed a classic bullish divergence, marking higher lows whilst the price recorded lower lows. This technical signal indicates that a trend reversal could be forming in the immediate short term, backed by a 20-day exponential moving average that is beginning to flatten.
Will seller exhaustion drive a rebound towards 97,000 dollars?
To confirm a real and sustainable recovery, the asset must overcome the psychological and technical barrier of 90,774 dollars. If this happens, the price could climb towards 93,966 dollars and subsequently seek the Fibonacci retracement level of 97,135 dollars. However, losing the immediate support of 85,500 dollars would expose the market to a much larger drop. Thus, a descent towards 80,542 dollars would be probable if buyers do not defend the zone aggressively in the face of uncertainty.
Traders must maintain caution whilst the technical structure of a potential relief rally consolidates. A confirmed breakout above 90,800 dollars would offer a clear entry to seek new bullish targets in the cryptocurrency market. On the other hand, if the asset manages to return to the mid-range of the channel, it could replicate rebounds from previous cycles. Finally, the Bitcoin price prediction continues to depend on the defense of the current support and the validation of the bullish divergence in momentum indicators.
