Introduction
Bitcoin’s recovery has stalled below $90,000 as analysts identify critical support and resistance levels that could dictate its next major move. Meanwhile, Bitfinex whales are unwinding long positions—a pattern that has historically preceded significant price swings. The market now watches whether BTC will break downward or rally toward new highs.
Key Points
- Analyst Ted Pillows identifies $89,200 and $87,500 as key Bitcoin support levels—losing $87,500 could trigger a deeper downtrend.
- Bitfinex whales are unwinding long BTC positions, a pattern that preceded a 50% price surge in early 2025.
- A daily close above $94,000–$95,000 could set Bitcoin on a path toward $102,000–$103,000, according to technical outlooks.
Critical Technical Levels Define Bitcoin's Short-Term Path
After a robust start to the year, Bitcoin has encountered significant resistance, briefly dipping below the $90,000 mark. This has prompted analysts to outline precise price thresholds that will determine the cryptocurrency’s immediate trajectory. Market analyst Ted Pillows, in a recent social media post, identified $89,200 as the first crucial support level. A breach below this point, he warns, could trigger a drop toward $87,500.
The $87,500 level represents a more critical juncture. Pillows cautioned that a daily close below this support could signal the beginning of a significant downward trend for Bitcoin. On the upside, the analyst suggests that Bitcoin must reclaim the $94,000 to $95,000 range to establish positive momentum. A successful daily close above this resistance band could pave the way for a move toward $102,000 to $103,000.
Echoing the importance of these lower supports, analyst Ali Martinez emphasized that Bitcoin must maintain its position above $87,200 to avoid a steeper decline. Should this level fail, Martinez predicts a potential drop toward $69,230, which would represent a decline of approximately 24% from current levels. At the time of writing, Bitcoin had experienced a slight uptick to $91,390, partly attributed to the US Supreme Court’s decision to delay a ruling on a case involving former President Donald Trump’s tariffs—an event anticipated to inject volatility into the market.
Bitfinex Whales Unwind: A Precursor to Major Volatility?
Beyond technical chart levels, a significant on-chain development is capturing analyst attention. Data indicates that large holders, or ‘whales,’ on the Bitfinex exchange are aggressively unwinding their long Bitcoin positions. Analysts such as Ash Crypto point out that this type of coordinated ‘unwind’ has traditionally preceded periods of significant market turbulence and subsequent large price movements.
This pattern is not without precedent. In early 2025, a similar unwind by Bitfinex whales occurred while Bitcoin’s price was stalled around $74,000. Following that event, the cryptocurrency embarked on a major recovery rally, surging approximately 50% to reach the $112,000 mark within just 43 days. According to analysts, this activity by large players can ‘clear the books’ of sizable long positions, relieving market pressure and allowing price-hunting algorithms to more easily catalyze an upward move.
Ash Crypto noted that the current situation could suggest a similar pattern is unfolding. If history rhymes, this whale activity could precede another substantial rally, potentially targeting price levels of $135,000 or more in the near term. Such a move would not only represent a significant recovery from current resistance but could also establish a new all-time high for the market’s leading cryptocurrency.
The Market's Crossroads: Resistance, Support, and Whale Signals
The current Bitcoin market stands at a crossroads defined by conflicting signals. On one side, technical analysis from figures like Ted Pillows and Ali Martinez paints a picture of fragile support, where a break below $87,500 could initiate a deeper correction. On the other side, behavioral analysis of whale activity on Bitfinex, highlighted by Ash Crypto, suggests these large-scale position unwinds have historically been a bullish setup, clearing the path for powerful rallies.
The immediate catalyst for direction may come from the identified technical levels. A firm hold above $89,200 and a subsequent push to conquer the $94,000-$95,000 resistance zone would align with the bullish whale narrative. Conversely, a decisive loss of the $87,500 support would validate concerns of a deeper pullback, potentially toward the $69,000 region cited by Martinez. External factors, such as the pending US Supreme Court decision, add a layer of macroeconomic uncertainty that could tip the scales.
Ultimately, the interplay between these technical thresholds and the strategic moves of major market participants like Bitfinex whales will determine Bitcoin’s next major leg. Whether it breaks downward through critical support or uses the whale-driven volatility as a springboard for a rally toward $135,000, the coming weeks are poised to deliver significant clarity for the cryptocurrency’s medium-term trend.
📎 Related coverage from: newsbtc.com
