Bitcoin returns to $92,000 with long-term buyers' boost

Source: PortaldoBitcoin Original Title: Bitcoin Today: BTC Returns to US$ 92,000 with Long-Term Buyer Boost Original Link: After the declines recorded following the interest rate cut in the US, Bitcoin begins a recovery this Friday, rising 2.5% in the last 24 hours to US$ 92,532. In reais, the cryptocurrency is traded at R$ 500,524.

Bitcoin’s momentum comes as optimistic investors continue buying the digital asset, even as unrealized losses increase and liquidity remains scarce across the sector.

Major Holders in Action

Large holders — known as accumulation wallets — purchased 75,000 BTC between December 1 and 10, including 40,000 BTC in a single day, reported CryptoQuant analyst DarkFrost.

Strict on-chain criteria define these wallets as those with no sales history, reaching a high purchase level, showing multiple fund entries, and not linked to exchanges, miners, or smart contracts.

Market Under Stress

Although persistent accumulation is a supportive factor, it also occurs amid a scenario of strong market stress.

“Short-term holder losses continue to accumulate; they are at 20% to 30% loss,” said Derek Lim, head of research at cryptocurrency market maker Caladan. “Historically, this tends to be positive when long-term holders are accumulating, as it shows a transfer of wealth happening.”

The phenomenon goes beyond short-term holders, as unrealized losses across the entire cryptocurrency ecosystem have risen to about US$ 350 billion, according to Glassnode. Unrealized losses in Bitcoin contributed nearly US$ 85 billion to this total.

With multiple on-chain indicators signaling decreasing liquidity across all sectors, the market is likely entering a regime of high volatility in the coming weeks.

The question is whether the Fed’s interest rate cut and the new US$ 40 billion per month Treasury bond purchase program can catalyze a sustained bullish trend amid liquidity scarcity.

Expert Perspectives

Although the response was not an emphatic “yes,” experts adopted a cautiously optimistic stance.

“The US$ 40 billion monthly T-bill program provides technical support,” Lim noted. However, he clarified that the Fed’s intention was “to prevent the banking system from stalling, not to generate the excess liquidity that cryptocurrencies really need to gain true traction.”

Liquidity bottlenecks during the holidays are also real, citing emptier order books, asset sales to offset year-end tax losses, and the Fed’s measured approach as factors working against a “explosive and illiquid rally at this moment.”

Other analysts see macroeconomic shifts gradually overcoming short-term headwinds.

“The market will increasingly reflect the impact of a more flexible monetary environment,” said Peter Chung, head of research at Presto Research. “My bet is on a rally with low liquidity,” he added, predicting “more buying interest than selling pressure” due to the accumulated rate cuts in 2025 and the Fed’s new liquidity program.

Ryan Yoon, senior research analyst at Tiger Research, offered an equally balanced perspective.

“In the short term, Bitcoin is unlikely to reach the active investor’s average cost of US$ 89,000,” Yoon said, noting that although Bitcoin historically weakens shortly after rate cuts, it tends to recover as economic dynamism returns.