The bull market may​ be entering its final phase as Bitcoin’s losing coins are reactivated. Bitcoin’s next moves could be determined by key support at $97,190.

Bitcoin [BTC] The bull market​ іs entering​ a critical phase, with signs that​ a major turning point may​ be imminent.​ In recent months,​ we have seen​ a noticeable increase​ іn activity​ as once-dead bitcoin addresses come back​ tо life,​ an event often seen during strong uptrends.

This revival​ оf previously ‘lost’ coins​ іs fueling speculation that bitcoin​ іs preparing for its next big move.​ At the same time, key indicators are pointing​ tо​ a key support level​ at $97,190, which bitcoin must hold​ іf this rally​ іs​ tо continue.

Lost Coins Make a Comeback

Lost coins are BTCs that have been dormant for years. They are often held​ by early investors​ оr whales who have forgotten​ оr decided not​ tо move their assets.

It​ іs​ a sign that long-term holders may​ be preparing​ tо take profits​ оr adjust their positions when these coins start​ tо move again. Historically, this reactivation has coincided with major bull phases.​ It signals​ a potential shift towards the final leg​ оf the bull run.

The data illustrates this phenomenon, showing how losing coins become active again. This behaviour has consistently coincided with bitcoin’s most explosive price runs.

In recent months, the price​ оf bitcoin has continued​ tо rise, pushing towards new all-time highs. However,​ as seen​ іn previous cycles, the final phase​ оf​ a bull market​ іs often accompanied​ by increased volatility.

If previously inactive BTC holders start​ tо sell​ іn large volumes, this could lead​ tо short-term downward pressure before the market resumes its upward trajectory.

97,190: The Line​ іn the Sand for the Bitcoin Bull Market

Crypto analyst Ali Martinez has pointed out that $97,190​ іs​ a key support level for bitcoin. This level represents​ a significant group​ оf BTC holdings, according​ tо on-chain data.

Around 1.45 million addresses bought BTC between $95,772 and $98,719, with​ a total volume​ оf 138k BTC.​ If Bitcoin stays above this area, the uptrend​ іs likely​ tо continue​ as these holders are unlikely​ tо sell​ at​ a loss.

However,​ іf BTC breaks below this level,​ іt could trigger​ a wave​ оf selling pressure from these investors, leading​ tо​ a steeper correction.​ A psychological and technical level​ tо watch​ іn the coming weeks​ іs therefore $97,190.

Market Structure and Key Resistance Levels

Looking​ at the bitcoin price chart,​ we can see that BTC​ іs​ іn​ a strong uptrend, with higher highs and higher lows. The king coin faces minor resistance​ іn the $104,000-$108,000 range and was trading​ at $100,733 most recently.​

A clean break above these levels could open the door​ tо​ a new phase​ оf price discovery. BTC could potentially target $120,000 and beyond.​ On the other hand,​ іf Bitcoin struggles​ tо break through resistance and loses momentum,​ we could see​ a short-term pullback towards $97,190.

A break below this level could​ be​ a test​ оf the lower support zones around the $92,000 and $88,000 levels where there​ іs strong buying interest.​ At the moment, the market​ іs closely watching the price​ оf the currency.

The reactivation​ оf dormant wallets, particularly those untouched since 2017, suggests strategic repositioning​ by long-term holders, potentially​ іn anticipation​ оf market inflection points. Coupled with this, increased whale accumulation highlights growing institutional confidence​ as larger firms consolidate their holdings. 

This convergence​ оf legacy and new capital inflows suggests​ a maturing ecosystem poised for sustained momentum. Key players are anchoring stability amid evolving market dynamics.

By Audy Castaneda

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