Bitcoin: Dormant wallets are waking up – Good news for BTC?

• Bitcoin’s reactivated lost coins suggest that the bull market may be entering its final phase.
• A crucial support at $97,190 could determine Bitcoin’s next moves.

Bitcoin’s [BTC] bull market is entering a critical juncture, with signs suggesting that a major turning point could be just around the corner.

In recent months, we’ve seen a notable surge in activity, as once-dormant Bitcoin addresses come back to life — an event often seen during strong bullish trends.

This reactivation of previously “lost” coins is fueling speculation that Bitcoin is gearing up for its next big move.

Simultaneously, key indicators are highlighting a crucial support level at $97,190 — one that Bitcoin must maintain if this rally is to continue.

Lost coins are returning

Lost coins refer to BTC that has been dormant for years, often held by early investors or whales who either forgot or chose not to move their assets.

When these coins start moving again, it signals that long-term holders may be preparing to take profits or adjust their positions.

Historically, this reactivation has aligned with major bullish phases, indicating a potential shift toward the final leg of the bull run.

The data illustrates this phenomenon, showing how lost coins are becoming active once more. This behavior has consistently aligned with Bitcoin’s most explosive price runs.

Over the past several months, Bitcoin’s price has continued to climb, pushing toward new all-time highs. However, as seen in previous cycles, the final phase of a bull market often comes with heightened volatility.

If previously inactive BTC holders begin selling in large volumes, this could introduce short-term downward pressure before the market resumes its upward trajectory.

$97,190: The line in the sand for Bitcoin’s bull market

Crypto analyst Ali Martinez has pointed out that $97,190 is a crucial support level for Bitcoin. On-chain data shows that this level represents a significant cluster of BTC holdings.

Approximately 1.45 million addresses acquired BTC between $95,772 and $98,719, with a total volume of 138k BTC.

If Bitcoin remains above this zone, the uptrend is likely to continue, as these holders are unlikely to sell at a loss.

However, if BTC breaks below this level, it could trigger a wave of selling pressure from these investors, leading to a steeper correction.

This makes $97,190 a psychological and technical level to watch in the coming weeks.

Market structure and key resistance levels

Looking at Bitcoin’s price chart, we can see that BTC has been in a strong uptrend, with higher highs and higher lows.

The king coin was trading at $100,733 at press time, facing minor resistance in the $104,000–$108,000 range.

A clean breakout above these levels could open the door to a new price discovery phase, with BTC potentially targeting $120,000 and beyond.

On the other hand, if Bitcoin struggles to break resistance and loses momentum, we could see a short-term pullback toward $97,190.

Read Bitcoin’s [BTC] Price Prediction 2025-26

A break below this level might test lower support zones around $92,000 and $88,000, where large buying interest exists.

For now, all eyes are on Bitcoin’s price action, as the market decides its next move.