A notable on-chain development is quietly reshaping market sentiment: wallets holding between 100 and 1,000 BTC have stopped accumulating.

Bitcoin faced additional downward pressure on Monday as trader Peter Brandt issued another bearish price outlook.

Bitcoin has pushed back into bullish territory after last week’s brutal correction, reclaiming the $91,000 zone and restoring confidence across the market.

A major on-chain metric is now hinting that Bitcoin may be trading far below its true value, and it’s happening at a moment when most of the market is focused on short-term volatility instead of long-term opportunity.

Bitcoin attempted a recovery mid-week after touching the lowest levels in November, climbing back toward the $87,000 region after days of heavy selling pressure.

Bitcoin’s recent price turbulence has been accompanied by a cluster of technical warnings that have caught the attention of analysts and long-term investors alike.

Bitcoin is trying to shake off last week’s sell-off after sliding to the $80,000 zone, bouncing sharply at the start of the week and reclaiming levels around $86,000.

For months, Bitcoin’s uptrend has absorbed every sell-off without losing its long-term momentum.

Bitcoin’s latest downswing is delivering a harsher impact to short-term participants than to any other segment of the market.

Bitcoin’s sharp decline continues to rattle the market, with the world’s largest cryptocurrency dropping to the $92,500 region after losing one of the most important support levels of the cycle.