Bitcoin today news: technicals point to likely further downside with weak probability for a rebound

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Bitcoin slips 0.94% today on selloff

Highlights

Bitcoin rebounded after a major correction caused by leverage-driven liquidations and over $3.7 billion in net outflows from Bitcoin ETFs, with BlackRock’s iShares Bitcoin Trust (IBIT) alone seeing $2.47 billion in redemptions.
Institutional activity remains robust as Bitcoin consolidates near a key weekly demand zone, reflecting evolving liquidity dynamics despite recent market turbulence.
Nasdaq proposed to raise position limits on IBIT options, aiming to enhance institutional risk management and improve overall market liquidity.

Institutional flows remain robust as ETF outflows reshape liquidity

Bitcoin recently recovered after a major market correction triggered by leverage-driven liquidations and substantial outflows from Bitcoin ETFs, with over $3.7 billion withdrawn and BlackRock’s iShares Bitcoin Trust (IBIT) alone seeing $2.47 billion in redemptions. Institutional participation remains strong as the asset consolidates near a key weekly demand zone and overall liquidity dynamics continue to evolve. Nasdaq’s proposal to raise position limits on IBIT options aims to improve institutional risk management and market liquidity.

Bearish momentum confirmed amid divergence in oscillator signals

Momentum remains negative with the MACD on D1 signaling a strong sell and the ADX indicating a robust bearish trend. RSI on D1 is below 50 and trending down, Stochastic RSI and BBP both suggest an overbought technical state, and CCI remains neutral. Despite the overbought readings on some oscillators, the current BBP value points to recent buyer dominance, creating notable divergence. The Awesome Oscillator is neutral and does not support the prevailing move. The closest dynamic support is at the Ichimoku Kijun level of $95,675.00, while resistance is at the MA-20 above.

Downside bias prevails as consolidation persists near support

For the next five trading days, the expected price range falls within a typical volatility band of $90,450 to $91,800 relative to current levels. The probability of a price increase is very low (less than 20%), so further decline is much more likely based on all key weekly indicators pointing bearish. The baseline scenario sees Bitcoin consolidating sideways in a narrow corridor near current prices. A bullish signal would require a break above $95,675.00, while renewed downside may follow if support at $90,450 is lost.

Anton Kharitonov, expert at Traders Union, sees persistent bearish pressures on Bitcoin across all time horizons. He believes the technical backdrop remains fragile despite some institutional support and recovery efforts. Sideways consolidation near current levels is most likely, with downside risk if support fails. "Until a firm break above $95,675.00, I remain cautious and see rallies as opportunities to defend capital — risk of further decline is still elevated."

Previously it was noted that Bitcoin price consolidates near $91,500 while traders monitor key $93,000 supply resistance zone. The article also highlighted improving investor sentiment and the importance of technical support levels for the asset’s outlook.

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.