Recent Bitcoin price movements have entered a critical phase, with technical patterns indicating it is approaching the end of a symmetrical triangle. The market is awaiting a directional breakout. Data shows that after falling below $90,000 on December 22, Bitcoin hit a low of $86,740, then entered a consolidation range between $87,000 and $89,000, with short-term buying momentum gradually returning.
From a capital perspective, spot Bitcoin ETFs continue to face pressure. According to SoSoValue data, 12 spot Bitcoin ETFs experienced net outflows of approximately $782 million from December 22 to 26, with total outflows in December reaching $1.08 billion, and November’s outflows even higher at $3.48 billion. The persistent outflow of ETF funds reflects cautious attitudes among some institutional investors regarding Bitcoin’s medium-term trend, which to some extent suppresses market sentiment.
On the macro front, the cooling of Federal Reserve rate cut expectations also exerts downward pressure on Bitcoin prices. Polymarket data shows that the probability of a 25 basis point rate cut in January is only 13%, while the chance of holding rates steady is as high as 87%. However, rising geopolitical risks have provided temporary support for Bitcoin. Tensions between Russia and Ukraine have heightened risk aversion, prompting some funds to flow back into risk-hedging assets including Bitcoin.
In the derivatives market, short-term trading demand has significantly increased. CoinGlass data indicates that Bitcoin’s weighted funding rate has risen to its highest level since October, while open interest in futures contracts has grown by 7% within 24 hours, showing increased market participation and that short-term bulls are taking the lead.
Technical analysis shows that on the 4-hour chart, Bitcoin has been trading within a symmetrical triangle since mid-November. The Aroon Up indicator has risen to 100%, and the MACD has crossed above the zero line, both signaling bullish momentum. The current market focus is on the resistance level at $90,975. A volume breakout above this level could open upward space, targeting $94,200. Conversely, if the price falls below the $87,000 support, there is a risk of a correction down to $85,000.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin and Ether ETFs See $443 Million Inflows as Crypto Demand Picks Up
U.S. spot Bitcoin and Ether ETFs saw significant inflows, totaling $443.3 million on April 9, indicating renewed institutional interest in crypto funds. Bitcoin ETFs led with $358.1 million, driven by BlackRock's iShares, while Ether ETFs gained $85.2 million, primarily from BlackRock’s ETHA. This surge reflects a shift in investor sentiment and confidence in the crypto market.
CryptometerIo1h ago
Strategy Single-day frenzy snapping up 3,468 bitcoins! STRC’s “print money to buy coins” firepower is fully turned on, with total holdings nearing 770k BTC
Strategy, led by Michael Saylor, on April 10 alone, is estimated to have gone on a buying spree of 3,468 bitcoins by issuing STRC preferred shares, with its total holdings nearing 770k BTC. STRC offers an annualized return of up to 11.5%, helping it continue to expand its capital base and become the world’s largest bitcoin holder.
動區BlockTempo2h ago
BTC breaks through 73000 USDT, with a 24-hour increase of 0.48%
Gate News message: On April 11, according to a certain CEX price feed, BTC broke through 73,000 USDT, and is currently quoted at 73,024.4 USDT, up 0.48% over the past 24 hours.
GateNews5h ago
