The New York digital asset market is navigating a short-term drag from the initial miner supply move and price compression beneath a key resistance. Bitcoin was around $90,504 on CoinMarketCap as of the New York afternoon, up 0.05% from 24 hours earlier. Over the past weeks, price action has been confined to roughly $84,000 to $94,000, while major altcoins showed mixed strength.
Two thousand BTC from 2010 mining rewards moved, highlighting what CryptoQuant’s Julio Moreno described as a notable transfer valued at about $181 million. The coins shifted from long-dormant addresses to Coinbase, a move typically read as a potential selling signal. Yet the market absorbed this pressure without systemic disruption, underscoring deeper liquidity and robust buy-side demand as wallets from 2009–2011 era reactivated without triggering a price collapse.
From a technical perspective, Bitcoin appears to trace patterns seen in prior upswings. In the past, a prolonged boxed range gave way to a strong uptrend after clearing the upper bound. The $94,000 level remains a near-term watershed; a clear break above could quickly improve market psychology.
Samson Mou has reiterated a long-term case for Bitcoin reaching about $1.33 million per coin by 2026 if national demand expands. Tom Lee argues that structural changes beyond the traditional four-year cycle are shaping the market. Overall sentiment remains neutral, with the Alternative Fear & Greed Index at 43.
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