In the past two weeks, as retail investor sentiment improved, fund managers reaffirmed their bullish expectations for a potential year-end rally, and Strategy announced a substantial purchase, the price of Bitcoin has revisited the $90,000 range multiple times.

According to Matthew Sigel, head of digital asset research at VanEck, Bernstein wrote: "The Bitcoin cycle has broken the four-year pattern (peaking every four years) and is now in an extended bull market cycle, with more resilient institutional buying offsetting any panic selling from retail investors."

This comment from Bernstein came after Larry Fink, Chairman and CEO of BlackRock, mentioned that sovereign wealth funds are "gradually" buying Bitcoin, as it "has pulled back from the peak of $126,000."

Fink said,

Reflecting the views of Fink and Bernstein, on Monday, Strategy announced the new purchase of 10,624 Bitcoins at an average price of $90,615 (totaling $962.7 million). Andre Dragosch, head of research at Bitwise Europe, noted that Strategy's purchase "is the largest amount since July 2025."

Although Bitcoin has rebounded from a low of $80,612 on November 21, the price remains constrained in the $90,000 to $93,000 range. On Saturday, chartered market technician Aksel Kibar stated,

Cumulative trading volume data from Hyblock provides a more detailed perspective, highlighting an increase in investor participation among the group trading 0 to 100 Bitcoins, which some analysts have labeled as retail. The larger trading groups in the 1,000 to 100,000 and 100,000 to 1 million (cumulative volume difference) seem to have sold during the rebound in the $90,000 to $93,000 range.

Similarly, the order book for BTC/USDT (Binance perpetual contracts) shows a sell wall starting at $90,000, thickening between $94,000 and $95,000.

On the other hand, the liquidation heatmap shows short liquidity between $94,000 and $95,300, which could provide fuel for bulls. If the market provides enough catalysts to trigger an increase in spot or futures buying, they may attempt to push towards $100,000.

Related: Paradigm: Polymarket trading data is being double-counted

Original article: “Improving Bitcoin Investor Mood Backs Bid for Rally to $93K?”

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