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Bitcoin is holding above $90,000 despite nearly $380 million in net outflows from U.S. spot ETFs this week, as traders watch a tightening technical pattern that could signal the next major price move.
Despite roughly $380 million in ETF outflows over recent sessions, the token’s price has remained above the psychological $90,000 threshold, showing a resilient, if cautious, market stance.
“Bitcoin continues to hold key support levels, but institutional flow dynamics remain a defining factor for short-term direction,” said Alex Thorn
Traders are watching a symmetrical triangle formation on Bitcoin’s daily chart, a technical pattern marked by narrowing price ranges between a rising support line near $80,500 and a descending resistance trend from the previous highs above $107,000.
Such compression typically precedes a significant expansion in volatility.
Analysts interpret the pattern as neither strongly bullish nor bearish in isolation but critical for timing the next directional move.
One market strategist noted that breakouts from these patterns tend to come with force; whether up or down will depend on how the market absorbs ETF flows and broader liquidity.
Key technical indicators show that BTC has been forming higher lows, suggesting buyers are entering on pullbacks.
Meanwhile, the 50-day exponential moving average (EMA) has started to flatten, and the relative strength index (RSI) has reset into a neutral-to-bullish range, curbing near-term bearish divergence.
However, signs of market indecision are present with Doji candles and spinning tops signaling a balance between buying and selling pressure.
A cluster of technical triggers awaits Bitcoin between $94,000 and $97,300 where prior supply zones, the triangle’s upper boundary, and a key Fibonacci retracement level converge.
A daily close above this zone could validate a breakout scenario. If confirmed, analysts see the next targets at $100,700, extending toward the $105,000 to $108,000 range on strong volume confirmation.
Failure to break and hold above this pivot, however, would shift the focus to downside support near $86,900 and potentially back toward the triangle’s lower structural zone near $80,500.
Institutional flows have become a barometer for confidence. U.S. spot Bitcoin ETFs which once served as a reliable bid under price action have recently registered net redemptions, complicating traditional breakout narratives.
Market watchers characterize the current phase not as a collapse but as a transitionary period.
The consolidation driven by compressed volatility and capital rotation is building a platform that could underpin a decisive move in either direction.
Long-term holders appear to be less reactive to short-term ETF movements, maintaining positions through the ebb and flow of institutional demand shifts.
Meanwhile, some speculative segments of the market such as meme tokens continue to attract capital independent of Bitcoin’s technical dynamics, underscoring the diverse drivers within the broader crypto ecosystem.
As Bitcoin navigates this pivotal technical and sentiment crossroads, timing and volume will be the essential metrics for traders and strategic holders alike.
