Bitcoin struggles below key resistance as ETF outflows deepen market pressure
Bitcoin is trading below major resistance levels after a wave of $2.5 billion in ETF outflows and worsening macro uncertainty pushed the price into the mid-$90,000s. With institutional sentiment wavering, BTC now faces a critical test as markets assess whether inflows can recover or downside momentum will accelerate.
Bitcoin trades below resistance
Bitcoin has come under renewed scrutiny as signs of institutional wobbles and macro pressures align to challenge its momentum.
Recent data show that spot Bitcoin exchange-traded funds (ETFs) experienced major outflows of approximately $2.5 billion in redemptions last week - an abrupt shift after months of sustained inflows.
This pattern has contributed to a noticeable drop in Bitcoin’s market value, with price slipping into the mid-US$90,000.00 range and more than $450 billion wiped off the broader crypto market cap.
The unfolding narrative for Bitcoin is therefore one of tension between structural strength and near-term stress.
Where recent inflows and growing allocation suggest long-term institutional conviction remains intact, the heavy outflows and price weakness point to a reset of risk appetite in the short-term.
The coming days will likely test whether resistance between $90,000.00-to-$100,000.00 caps or whether institutional flows can re-accelerate. Should they do so, Bitcoin may attempt to resume its upward leg; if not, the recent weakness may deepen and lead to further downside.
Bitcoin bearish case:
As long as the $98,330.30-to-$99,169.54 resistance area caps, downside pressure will remain in place with the $92,000.00 region and potentially the mid-January low at $89,224.11 remaining in focus.
Bitcoin bullish case:
Were Bitcoin to experience a bullish reversal which would take it above the psychological $100,000.00 mark, the 11 November high at $107,461.75 may be back in play. It would need to be exceeded, though, for the current medium-term downtrend to be invalidated.
Bitcoin daily candlestick chart
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