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Bitcoin accumulation wallets absorbed 75,000 BTC between Dec. 1 and Dec. 10, including 40,000 BTC in a single 24-hour period, according to CryptoQuant data. The surge in long-term holder activity coincides with Bitcoin trading above $92,000 and Binance recording its highest withdrawal-to-deposit ratio since 2018, suggesting tightening supply ahead of a potential price move.
Bitcoin is currently trading at $92,534, up 2.5% in the last 24 hours as bulls push for momentum. The weekly range between $88,202 and $94,267 reflects a market simmering ahead of what could become a decisive Bitcoin price breakout even as the asset remains 26% below its $126,080 all time high from October.
Trading volume came in at $46 billion down 19% hinting that traders are pausing after a volatile week. CoinGlass data shows derivatives volume slipped 9% to $93 billion while open interest rose 1.9% to $59 billion a structure often seen before a Bitcoin price breakout as traders add fresh contracts while spot activity cools.
On-chain data continues to support a tightening supply environment. In a Dec. 12 post on X, CryptoQuant analyst Darkfost revealed that accumulation wallets absorbed 75,000 BTC between Dec. 1 and Dec. 10 including a massive 40,000 BTC added within just 24 hours between Dec. 9 and 10. These wallets now hold roughly 315,000 BTC.
Such consistent absorption strengthens the case for a Bitcoin price breakout as these long term wallets share unusual characteristics: no outgoing transactions, frequent inflows, long activity histories, and minimum balance thresholds excluding miners, exchanges, and smart contracts.
A second CryptoQuant contributor, CryptoOnchain, flagged notable exchange dynamics that further support the possibility of a Bitcoin price breakout. On Dec. 3, Binance saw its 30 day moving average of Bitcoin withdrawals surge to 3,100 transactions the highest since May 2018 while deposits fell to 320 transactions, the lowest since 2017.
This strong withdrawal deposit divergence represents a supply squeeze: coins flow to self custody while fewer traders are sending in BTC to sell. Historically, such patterns often precede explosive upside moves, including a Bitcoin price breakout.
Technically, Bitcoin is stabilizing above $90,000 and tracking along the middle Bollinger Band. Although candles remain under the upper band, the formation suggests mounting pressure for a potential Bitcoin price breakout.
Here are very key indicators:
If Bitcoin closes above $94,500, traders may receive a clean signal for a Bitcoin price breakout potentially targeting the $100,000 psychological level. A push beyond the upper Bollinger Band would confirm the shift.
However, failure to maintain the $90,000–$91,000 support could weaken the Bitcoin price breakout outlook sending BTC toward $86,500 a zone that aligns with the lower band and significant liquidity.
With on-chain accumulation rising, exchange balances tightening and technical indicators aligning, market watchers are increasingly alert to the next Bitcoin price breakout. Whether the catalyst comes from supply pressure, derivatives positioning, or broader market sentiment, Bitcoin is entering a zone where decisive movement appears imminent.
