Institutional traders are still adding Bitcoin exposure while retail sentiment stays cautious. Jane Street’s new stake in Marathon, a $120 million whale buy, and a defended $90,000 support band all show deep-pocketed buyers stepping in.
Jane Street Discloses New $13 Million Stake in Bitcoin Miner Marathon
Jane Street has revealed a fresh position in Marathon Digital, adding another major Wall Street name to the list of institutions gaining exposure to Bitcoin through mining equities. The disclosure, filed on Nov. 19, shows the trading giant purchased about 1.15 million MARA shares, valued at roughly $13 million.
BitcoinTreasuries Mara Stake Image. Source: BitcoinTreasuries.NET
The move places one of the world’s largest market-making firms alongside other institutional investors using miners as a proxy for Bitcoin’s long-term trend. Marathon remains the second-largest publicly traded Bitcoin holder, and its treasury position continues to draw interest as Bitcoin’s role in broader portfolios expands.
The timing also stands out. Jane Street reported the new stake while Bitcoin miners faced shifting profitability and rising competition across the sector. Even so, the firm increased its exposure, signaling that Marathon’s balance-sheet BTC and production capacity still attract institutional attention.
Large Bitcoin Buyer Moves $120 Million as Market Turns Cautious
A series of large transfers shows a single buyer accumulating more than $120 million in Bitcoin, even as retail traders pull back during the latest bout of market uncertainty. The transactions appeared within a few hours on Arkham, where several inflows moved from BitGo-linked addresses into one receiving wallet.
Bitcoin Whale Inflows Chart. Source: Arkham / X
The flow includes transfers of 320 BTC, 270 BTC, 259 BTC, 230 BTC, and 200 BTC, along with smaller entries. Each transaction ranged between $18 million and $29 million, adding up to roughly $120 million in total. The inflows all moved into the same destination address, signaling consolidation by a single entity rather than unrelated purchases.
The timing adds weight to the move. While sentiment remains fragile across spot markets, the accumulation suggests at least one large buyer is increasing exposure during a period of hesitation. The pattern also mirrors earlier phases where deep-pocketed participants built positions while broader trading activity slowed.
Bitcoin Bulls Defend $90,000–$92,000 Support as Trader Eyes Double Bottom
Meanwhile, Bitcoin is once again holding above the key $90,000–$92,000 support band, keeping a deeper breakdown on pause for now. The latest four-hour candles show repeated wicks into that zone, with price rebounding back toward the mid-$92,000 area as buyers absorb sell orders.
Bitcoin Support Zone Chart. Source: Jelle
Analyst Jelle highlighted the area as a critical line where bulls “are clearly defending,” pointing to the cluster of previous reaction lows on the chart. The grey box between $90,000 and $92,000 has acted as demand multiple times this month, turning into the main short-term floor for the market. As long as candles close above this band, the current downtrend remains contained rather than turning into a steeper capitulation move.
At the same time, the chart sketch outlines a possible double-bottom structure forming around this support. In that scenario, Bitcoin would retest the $90,000–$92,000 area, hold it, and then push back toward the next supply zones near $97,000–$100,000. A clean move into those upper grey bands would mark the “relief” phase Jelle mentions, undoing part of the sharp decline from above $110,000 earlier this month.
However, the setup still depends on time and confirmation. Jelle notes that bulls need to keep price above support “until after the weekend” for the pattern to play out, underlining that another strong daily close below $90,000 would invalidate the double-bottom idea. In that case, the chart leaves room for a slide toward lower demand areas highlighted earlier in the year, where Bitcoin last consolidated in the $80,000s before its summer breakout.
Even so, the current structure shows a clear battle zone. Buyers are defending a well-defined horizontal level, while sellers remain active after weeks of lower highs from the $120,000 region. The next decisive move will likely come from whether this $90,000–$92,000 shelf continues to hold as a base or finally breaks and turns into resistance.
Source: https://coinpaper.com/12487/what-jane-street-s-new-13-million-marathon-stake-says-about-bitcoin
