As Bitcoin consolidates in the $90,000-$91,000 range, on-chain data from Binance reveals an unusual bullish divergence in trader behavior regarding selling versus buying activity.
Rather than liquidating positions, the majority are aggressively withdrawing coins from the exchange, leading the Bitcoin price prediction to signal a potential breakout above $100,000.
Bitcoin Deposits Hit 8-Year Low, Creating Supply Shock
According to charts from CryptoOnchain, the 30-day Exponential Moving Average (EMA-30) of Exchange Withdrawal Transactions on Binance experienced a substantial spike, reaching 3,100 daily transactions on December 3rd.
“This marks the highest level of withdrawal activity observed since May 2018,” the analyst noted.
The metric indicates a growing number of investors are transferring assets to cold storage, demonstrating a long-term holding strategy, rather than short-term trading speculation.
Even more remarkable is the sell-side behavior. While withdrawals surge, the 30-day moving average of depositing transactions to Binance has fallen to its lowest level since 2017, dropping to approximately 320 transactions.
The massive divergence, where withdrawals hit a 7-year peak while deposits reach an 8-year low, creates a textbook “Supply Shock” scenario.
“This behavior indicates extreme conviction among investors who believe the price discovery phase is far from over,” CryptoOnchain concluded.
Technical Structure Shows Range-Bound Consolidation
Bitcoin continues trading within a broad one-year range, with recent weekly candles positioning the price near the range low around $80,000-$81,000.
The chart identifies substantial resistance between $117,000 and $122,000, but the market must first reclaim the mid-range level near $109,000, an area that has consistently capped rallies since mid-2025.
Only a decisive weekly close above $109,000 would reopen pathways toward a larger bullish structure.
Source: TradingViewMeanwhile, weekly moving averages are beginning to flatten, and price currently trades beneath the 20-week and 50-week MAs, indicating momentum remains subdued.
If Bitcoin loses the $80,000 support, the chart reveals a wide demand zone between $62,000 and $71,000 as the next significant area where buyers may establish a bottom.
Until then, price will likely range sideways with a slight bearish tendency unless bulls recover $109,000 and reverse momentum in their favor.
Pepenode Raised Over $2.3M To Position for Meme Coin Mania
If Bitcoin finally breaks through $109,000 and starts climbing again, meme coins like Pepenode (PEPENODE) could experience another explosive rally.
Pepenode is a new crypto project that’s already raised over $2.3 million despite challenging market conditions.
It’s a game where you can “mine” coins without needing expensive computer equipment.
You play the game in your web browser, set up virtual mining nodes, and upgrade your facilities to earn $PEPENODE tokens.
The project is replicating PEPE’s success strategy, which surged over 1,000x during Bitcoin’s rally from $27,000 to over $64,000 during the 2023-24 run.
As more people start purchasing Pepenode’s mining rigs, the token price is expected to rise rapidly.
To join the presale before the price increases, visit the official Pepenode website and connect a crypto wallet like Best Wallet.
You can buy tokens now for $0.001192 each and pay with crypto coins like ETH, BNB, or USDT.
You can also use a regular credit or debit card to complete your purchase in just seconds.
Visit the Official Pepenode Website HereThe post Bitcoin Price Prediction: Binance On-Chain Data Shows Rare Bullish Divergence at $90K — Can BTC Explode Past $100K Next? appeared first on Cryptonews.
