Bitcoin Dips to $85K as Mid-Sized Hodlers and Institutions Accelerate Accumulation Amid Parabolic Support Break
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
Shorts pay
As of December 16, Bitcoin retraced about 30% from its peak near $126,000 and hovered around the crucial $85,000 support, according to on-chain data. Whale addresses between 100 and 1,000 BTC added roughly 54,000 BTC, lifting holdings from 3.521 million to 3.575 million BTC—the fastest accumulation since 2012.
Upside remains capped as larger holders restrain supply. Long-term holders (>10,000 BTC) have trimmed positions for two months, while mid-sized investors and select institutions accumulate. Charles Edwards of Capriole Investments notes that institutional demand is being absorbed by long-term holders, tempering near-term price action.
Separately, veteran trader Peter Brandt warns that Bitcoin has breached a key parabolic support, signaling potential deeper pullbacks if patterns repeat.