Bitcoin news: downside momentum persists with RSI at 29.95 and sellers dominating action

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Bitcoin slides 1.23% today to $96k

Highlights

The U.S. SEC approved new generic listing standards for commodity-based exchange-traded products, including spot Bitcoin ETFs, on September 17, 2025, streamlining regulatory oversight and broadening investor access.
Harvard University increased its BlackRock Bitcoin ETF holdings to $442.8 million, despite spot Bitcoin ETFs experiencing $866 million in net outflows in a single day after the SEC resumed processing crypto ETF applications.
American Bitcoin Corp reported Q3 revenue of $64.2 million and net income of $3.5 million, while Bitcoin Treasury Corporation achieved an $8.5 million fair value gain on BTC holdings and listed on OTCQX.

ETF outflows and institutional shifts as SEC expands product access

The U.S. SEC approved new generic listing standards for commodity-based exchange-traded products, including spot Bitcoin ETFs, on September 17, 2025, enabling wider investor access and streamlining regulatory oversight. Harvard University notably expanded its BlackRock Bitcoin ETF holdings to $442.8 million, while spot Bitcoin ETFs recorded $866 million in net outflows in a single day as the SEC resumed processing crypto ETF applications after the government shutdown. American Bitcoin Corp reported Q3 revenue of $64.2 million and net income of $3.5 million, increasing its reserves to over 4,000 BTC, and Bitcoin Treasury Corporation reported an $8.5 million fair value gain on its BTC holdings and achieved an OTCQX listing.

Bearish bias reinforced by oversold momentum and technical resistance

The technical outlook remains bearish as Bitcoin trades beneath all major moving averages. Immediate resistance is defined by the Ichimoku Kijun at $105,253.35. Momentum indicators, including daily MACD and ADX, confirm ongoing weakness, with the RSI at 29.95 and Stoch RSI fully oversold — both suggesting seller dominance. CCI highlights oversold conditions as well, although intraday oscillators show isolated buying attempts and hints of divergence. Bull/Bear Power favors sellers, with current price action staying in the upper half of today's $94,607.20 – $96,820.70 range and moderate volatility. Despite mixed intraday momentum, no clear reversal has emerged.

Sideways trading expected as rebound odds remain subdued

Over the next week, Bitcoin is likely to trade in a broad range between $91,500 and $99,800, consistent with typical ±8% weekly volatility. With three out of four weekly technical indicators pointing lower, the probability of a significant rebound is below 20%, and the base case is for broad sideways movement in the support area. A decisive break above $105,250 would signal a bullish shift, while sustained trading below $94,600 would confirm further downside toward $91,500.

Anton Kharitonov, expert at Traders Union, sees Bitcoin locked in a broad sideways phase with firm technical resistance and poor momentum. He notes that regulatory progress and increased institutional exposure have not reversed muted sentiment, as heavy outflows from spot ETFs point to persistent investor caution. The analyst remains skeptical of a sustainable rebound unless price decisively breaks above $105,250. "Base case remains defensive — unless Bitcoin reclaims major moving averages, further downside risk dominates."

Last time we reported that Bitcoin price deepened its losses as sellers maintained control, resulting in its lowest point in five months. It was also noted that over $210 million in long positions were liquidated, intensifying selling momentum and contributing to increasingly bearish sentiment among investors.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.