Bitcoin has established a support level as its price struggles to reach the $100,000 mark. On February 12, analyst Axel Adler Jr. highlighted the significance of new Bitcoin whales, who are unlikely to sell at a loss below $90,000, where their aggregate cost basis rests at $89.2K. This suggests that the $90,000 level may act as crucial support amid market fluctuations related to macroeconomic conditions. While some analysts predict potential gains, Adler warns of possible downward corrections. Recent data indicates that seller exhaustion is becoming evident, pointing to a potential price reversal soon. Analysis from Glassnode reveals that short-term holders have incurred significant losses, with $834 million in sales from those who entered the market recently. Conversely, longer-term holders have registered less than $126.5 million in losses. Glassnode also identified another support level at $92,000, corresponding to the short-term holders' cost basis, reinforcing the resilience of recent Bitcoin buyers against volatility. In conclusion, while recent activities showcase market caution, the dynamics between whales and short-term holders will be pivotal in determining BTC's price trajectory.

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