Author：Encryption Jianghu

Bitcoin [BTC] pulled back below the $90k mark in the last day, with investors finding comfort in traditional assets at a shaky time. Tariff concerns are also in play, so the drop is more macro nerves than anything crypto-specific.

Still, the difference between impulse and long-term moves is becoming harder to ignore.

Whales buy the dip

The pullback is not being treated the same way by all market participants.

Large Bitcoin holders have accumulated 36,322 BTC over the past nine days! This increased their holdings by 0.27%, per Santiment data.

In contrast, the smallest wallets, holding less than 0.01 BTC, sold roughly 132 BTC during the same period. That’s a 0.28% decline in supply held.

Retail is reacting on impulse to momentary weakness, while larger players prepare to stay for the long haul. This almost always happens during corrective phases.

Bitcoin is tied to the bigger picture

Since 2025, Bitcoin’s pullbacks have happened in tandem with periods of trade tension. A recent report stated that April 2025 saw Bitcoin slide by roughly 12% after tariff announcements caused a global risk-off move.

A similar pattern played out in October 2025, when U.S.-China sparring pushed Bitcoin down over 8%. Now, U.S.-Europe tensions coincided with another decline of around 7%.

Brief inflow surges happened during these corrections, but they slowed down soon after. There’s a lot of short-term risk reduction; the broader structure is intact regardless of global happenings.

When buying meets opportunity

The contrast in retail and smart money’s reactions will matter when you look at price. Bitcoin’s pullback has brought it closer to a zone long-term investors tend to watch closely.

According to Alphractal, Bitcoin is approaching one of its strongest buying zones—when the price falls below all major daily MAs, from the 7-day to the 720-day.

In past cycles, these have often been favorable long-term entry points. For that full setup to trigger, though, Bitcoin would need to slip below $86,000.

Until then, consolidation is the verdict, especially as large holders continue to stack BTC.

Final Thoughts

• Bitcoin’s dip below $90K gave whales the perfect buying opportunity.
• As it stands, BTC will continue to consolidate.