The price of Bitcoin has continued to consolidate around the $90,000 mark, struggling to reclaim the $93,000–$94,000 resistance zone as bullish momentum slows.
A noticeable decline in spot ETF inflows has reduced buying pressure, keeping BTC within a tight range despite recent volatility. The crypto asset is currently trading at $90,451 at the time of this report.
Analysts note that Bitcoin’s inability to secure a sustained move above the $93,000–$94,000 zone reflects a combination of slowing demand and rising macroeconomic uncertainty rather than outright market weakness.
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One key factor behind the consolidation is the moderation of spot ETF inflows, which had previously provided consistent buy-side support during rallies. With these inflows easing, Bitcoin has faced challenges in absorbing sell pressure at higher levels.
Despite this, bulls have defended the $90,000 support level. Technical charts indicate a contracting triangle forming with support at $90,000 on the hourly BTC/USD pair. Traders remain cautious, especially with the upcoming FOMC meeting expected to serve as a key catalyst, potentially reigniting upside momentum or driving further consolidation.
CryptoQuant data highlights a sharp drop in BTC inflows to Binance, the largest cryptocurrency exchange, in 2025. Retail investors holding up to 1 BTC often referred to as “shrimp” investors have largely withdrawn from trading. Compared to the 2022 bear market, activity among these small holders is only a fraction of previous levels.
Contributor Darkfost noted in a QuickTake blog post that “the activity of shrimps, meaning small Bitcoin holders, has dropped to one of the lowest levels ever recorded.” Daily inflows from shrimp investors to Binance averaged about 2,675 BTC ($242 million) in December 2022 using a 30-day simple moving average, but today this figure has collapsed to just 411 BTC, marking one of the lowest levels ever observed. Darkfost described this as “not a simple pullback, it’s a structural decline,” underscoring retail’s fading interest even as Bitcoin reaches record highs.
Amid Bitcoin price consolidation, Standard Chartered’s Geoff Kendrick in a recent comment stated that Bitcoin will not reach his $200,000 target by the end of the year, a forecast he has stood by for over a year. Instead, he now expects Bitcoin to hit $100,000 by the end of 2025.
However, he’s still very bullish and described the recent slump as “not a crypto winter, just a cold breeze,” in a note Tuesday. The global thought leader still maintains a long-term forecast of $500,000, but now expects that to happen in 2030, rather than 2028.
“Recent price action in Bitcoin has been challenging, to say the least. But we think the decline, while rapid, falls within ‘normal’ expectations, the 36% drop from the all-time high reached on Oct. 6 is similar in scale to previous drawdowns,” he said.
Kendrick noted that further corporate buying by crypto treasury companies was “likely over” and that future Bitcoin price increases will be driven by one thing only ETF buying.
“We still think this target [$500,000 by 2030] is attainable, as portfolio optimization between Bitcoin and gold continues to show that global portfolios are underweight Bitcoin,” he added.
Meanwhile, over the past two months, indicators comparing retail investors to whales have remained relatively bullish, with the whale-versus-retail delta hinting at a potential BTC price bottom. Analysts caution, however, that if Bitcoin fails to surpass the $92,000 resistance zone, it could resume its decline.
Immediate support is near $90,000, followed by major levels at $89,500 and the 61.8% Fibonacci retracement. Additional support zones include $88,800 and $87,500, with the key support resting at $86,500, a break below which could accelerate further losses in the near term.