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Bitcoin Updates: Positive Technical Indicators for Bitcoin Face Off Against Declining Interest from Institutional Investors

Bitcoin Updates: Positive Technical Indicators for Bitcoin Face Off Against Declining Interest from Institutional Investors

Bitget-RWA2025/11/11 08:40
By:Bitget-RWA

- Bitcoin forms bullish double-bottom pattern, targeting $110K as technical indicators and macroeconomic relief align for a rally. - Institutional demand cools, with BlackRock's ETF inflows plummeting and negative on-chain demand threatening $100K support. - Cathie Wood cuts 2030 BTC forecast to $1.5M amid stablecoin competition, while Fed rate cuts and liquidity improvements bolster short-term optimism.

Bitcoin's recent price movement has reignited optimism, as both technical signals and broader economic factors suggest a possible upward surge. The cryptocurrency has established a bullish double-bottom formation, with a weekly candle closing above significant support, indicating a transition from a bearish phase to a bullish one.

Bitcoin Updates: Positive Technical Indicators for Bitcoin Face Off Against Declining Interest from Institutional Investors image 0
Experts are now eyeing a potential rise to $110,000, fueled by renewed buying interest and a CME gap at $104,000, which could prompt a brief correction before the upward momentum continues . At the same time, a hidden bullish divergence has appeared on the Relative Strength Index (RSI), pointing to fading bearish and ongoing accumulation .

The latest rebound has been supported by macroeconomic developments, notably the U.S. Senate's bipartisan agreement to end a 40-day government shutdown. This move reduced systemic risks and improved investor confidence, with

responding quickly to the clearer fiscal outlook. The digital asset climbed above $105,000 and continued to $106,000, as risk appetite expanded across stocks, technology shares, and cryptocurrencies . Blockchain data added to the positive sentiment, showing that large holders accumulated $32 billion in after the price dropped below $101,000, reinforcing the $105,000 support area .

From a technical perspective, Bitcoin's 50-day simple moving average (SMA) at $104,149 now acts as short-term support, while the RSI at 67 reflects strong momentum. Traders are keeping an eye on the 38.2% Fibonacci retracement at $109,660, a key resistance level. Surpassing this barrier could pave the way for a move toward $110,000–$112,000, continuing the medium-term rally

. Still, there are risks: if the price closes below $104,000, the breakout could fail, leading to liquidations and a drop toward $101K–$102K .

Institutional interest, however, appears to be waning. Inflows into BlackRock's spot BTC ETF have dropped sharply from over 10,000 BTC weekly to under 1,000 BTC, reflecting a more cautious market stance. Data from Glassnode and CryptoQuant show that current demand is not enough to offset selling pressure, with negative net demand coinciding with previous local lows

. Julio Moreno from CryptoQuant commented, "If institutional buying does not pick up, downward price pressure may persist."

Nevertheless, broader economic factors remain supportive. Expectations of Federal Reserve rate cuts and improved liquidity conditions have strengthened Bitcoin's recovery outlook. Meanwhile, speculation about a major BTC purchase by MicroStrategy founder Michael Saylor has added to the bullish sentiment

.

Some experts, however, are less optimistic about the long-term outlook. Cathie Wood of ARK Invest recently revised her Bitcoin price projection for 2030 down from $2.4 million to $1.5 million, citing the rapid rise of stablecoins in developing economies. She noted that stablecoins are increasingly taking on roles once reserved for Bitcoin, such as serving as a store of value in inflation-prone countries like Venezuela

. Standard Chartered forecasts that dollar-linked stablecoins could pull over $1 trillion from traditional banks in emerging markets by 2028, heightening competition.

Currently, Bitcoin is trading around $101,724, with market participants watching for liquidity sweeps between $98,500 and $99,700 before aiming for $105,000

. If BTC maintains support above $105K and breaks through the $111,600 level—a historically significant resistance—the next advance toward $110K–$115K could accelerate .

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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