Bitcoin (BTC) traded sideways on Friday following a turbulent week, as major holders began liquidating significant positions, signaling a potential shift in market sentiment.
Notably, over the past seven days, the world’s largest cryptocurrency slipped nearly 3% amid broad selling pressure across major digital assets.
Meanwhile, according to blockchain analytics firm CryptoQuant, holders of 1,000–10,000 BTC have transitioned from accumulation to distribution, with one-year net holdings dropping by 188,000 BTC after an aggressive 200,000 BTC accumulation throughout 2024.
Analysts warn that this is not a temporary phenomenon but a structural trend that could have significant implications for Bitcoin’s short- to mid-term price trajectory.
Additionally, popular analyst Ali Charts highlighted that Bitcoin has already endured a 52% correction from its October 2025 peak.
 
The analyst pointed to technical signals, noting that the 3-day simple moving average (SMA) recently crossed again and, historically, this has often preceded what he terms the “Final Accumulation Window.”
According to him, if past patterns hold, this critical accumulation period could begin within three to six days, presenting a potential opportunity for long-term investors to rebuild positions.
Notably, analyst Ted emphasized that Bitcoin repeatedly failed to sustain levels above $67,000, encountering resistance at the former $69,000–$70,000 support zone. He highlighted that the $65,000–$66,000 range is now pivotal; breaching it could trigger a fresh market low.
Drawing parallels to previous cycles, Ted suggested that if Bitcoin follows a historical pattern similar to 2022, the asset could bottom around $45,200 by October 2026, potentially setting the stage for a 50% rally to $70,000 by the end of the year.
Elsewhere, analyst Tryrex observed that Bitcoin is repeatedly retesting the $66,000 level, noting that similar patterns in the past often led to breakdowns and the formation of lower highs.
According to the pundit, any move to reclaim the previous $69,290 peak would require unusually strong upward momentum, making lower highs more probable in the near term.
Moreover, analyst Exitpump described the $66,000 level as a buy signal, suggesting that traders could maintain long positions with order-flow confirmation.
The analyst cautioned, however, that a daily close below $65,000 would flip the market regime, likely leading to further declines.
Bitcoin faces a fragile balance between whale selling, key support levels, and overall market sentiment.
That said, this shift from accumulation to heavy distribution heightens volatility risk, with the next few days likely to determine whether the cryptocurrency rebounds or falls further.
At press time, BTC was trading at $69,421, reflecting a 3.83% surge in the past 24 hours.
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