Bitcoin dropped back to the $91,000 zone on Tuesday, after the price briefly reclaimed $94,000 the previous day.
New data show strong selling pressure near a key resistance level, despite improving underlying demand indicators.
Heavy sell orders are slowing Bitcoin's rally around $95,000
The correction followed after a failed attempt to break above $94,000–$95,000. Order book data showed nearly $100 million in sell orders stacked up at major exchanges.
This concentration of liquidity acted as a ceiling, halting the upward move and triggering short-term profit-taking.
The $91,000 zone for Bitcoin is an entry point for large volumes of new buyers who entered early in 2025. It appears these buyers are now taking short-term profits following recent volatility.
Order book heatmaps showed sellers absorbed buying pressure as soon as Bitcoin reached this zone.
When the upward momentum stalled, leveraged traders exited their positions, accelerating the decline toward $91,000. This move reflects more the market structure than a sudden shift in sentiment.
A price reversal is still possible
Despite the pullback, on-chain and flow data indicate the broader trend remains positive.
According to CryptoQuant data, the Bitcoin-to-stablecoin reserve ratio on Binance is rising again, indicating more purchasing power is waiting on the sidelines.
A higher ratio indicates traders are holding stablecoins and waiting for favorable entry points. They typically deploy this capital during corrections, rather than chasing price increases.
This steady buildup of liquidity often precedes consolidation phases, during which the price fluctuates within a certain range before another directional move. This typically does not result in sharp, vertical price increases in the short term.
Institutional demand remains intact as well. Spot Bitcoin ETFs recorded approximately $697 million in net inflows on January 5. This brings total inflows close to $58 billion.
Important is that these inflows continue, even as Bitcoin struggles at resistance. This suggests demand is primarily driven by long-term positions, not speculative momentum.
The gap between strong ETF inflows and temporary price weakness reveals a growing divergence in the market.
Long-term buyers continue accumulating, while short-term traders react to technical levels and liquidity clusters. This explains why Bitcoin failed to stay above $94,000 without triggering panic selling.
There are no signs of large exchange inflows or aggressive distribution by long-term holders during this decline.
For now, the data points more toward consolidation than a trend reversal. To break through the $95,000 threshold, sustained demand in the spot market is likely needed, along with reduced sell-side liquidity and support from risk markets.
Until then, corrections toward the low $90,000 zone appear logical for a market digesting recent gains.