Bitcoin is now facing a critical test as it hovers around the $82,000 level, following a sharp loss of momentum in recent days. Bulls appeared to regain control when BTC surged toward $87,000, but the failure to reclaim the key $90,000 resistance level marked a turning point. Since then, selling pressure has returned, dragging the price lower and putting Bitcoin in a vulnerable position.
The broader market continues to be weighed down by macroeconomic uncertainty and growing fears of a global trade war. These factors have shaken investor confidence across financial markets, with Bitcoin and the crypto sector taking the hardest hit amid increased volatility and capital outflows.
However, on-chain data from CryptoQuant offers a more nuanced view. The Value Days Destroyed (VDD) indicator — a key measure of long-term holder activity — reveals that experienced players have quietly transitioned into the accumulation phase. Historically, such behavior has preceded major bullish reversals, as seasoned investors begin to accumulate coins while prices are suppressed.
With Bitcoin now testing key support, the market is watching closely. If bulls can hold the $82K level and momentum returns, this accumulation phase could mark the beginning of a longer-term recovery.
Bitcoin Slides Below Key Levels As Accumulation Quietly Builds
Bitcoin is trading below a crucial demand zone as bearish momentum continues to build. After a short-lived wave of optimism and a minor upswing earlier in the week, selling pressure has returned, pulling BTC lower and raising concerns about a deeper correction. Price action has shown consistent weakness, with bulls failing to reclaim the $90K level and now struggling to hold support near $82K. Broader market instability, driven by macroeconomic uncertainty and escalating trade war fears, continues to weigh heavily on risk assets — with Bitcoin among the most affected.
Despite the negative sentiment, on-chain data is showing a potentially bullish development beneath the surface. Top analyst Axel Adler shared insights revealing that experienced players have now transitioned into the coin accumulation phase. According to Adler’s analysis, there have been four distinct accumulation phases in this cycle: January and October 2023, October 2024, and the current phase starting in March 2025 — all marked by low levels in the VDD indicator.
These low VDD readings suggest that long-term holders are no longer selling, instead accumulating coins in anticipation of future price increases. Historically, such accumulation phases have preceded major bullish moves.
The current absence of significant selling among seasoned participants suggests growing confidence that current price levels are not favorable for profit-taking. While the short-term outlook remains fragile, this shift into accumulation signals medium-term strength and the potential foundation for Bitcoin’s next leg higher — if bulls can defend key support and reestablish momentum.
Bulls Struggle To Reclaim Momentum
Bitcoin is trading at $83,200 after several days of struggling to reclaim the $89,000 zone, marking a 7% decline from its recent high near $88,000. The rejection at that level has put bulls on the defensive, with price action slipping below key moving averages. To confirm a recovery rally, BTC must retest the $89K zone and break above the critical $90,000 resistance level — a move that would signal renewed strength and shift market sentiment back in favor of the bulls.
However, failure to reclaim the 200-day moving average (MA) and 200-day exponential moving average (EMA) in the coming days could trigger further downside pressure. These moving averages are currently acting as dynamic resistance, and a continued rejection there could open the door to a drop below the $81,000 support level.
The next few sessions will be key in determining Bitcoin’s short-term direction. With macroeconomic uncertainty still shaking financial markets, bulls must step in quickly to prevent another leg down. Reclaiming $89K–$90K would help establish a more solid recovery phase, but until then, BTC remains at risk of deeper losses if buying momentum fails to return.
Featured image from Dall-E, chart from TradingView
