Overview
- Bitcoin trades around $89,500 after losing $90,000, with recent sessions holding a consolidation band near $85,000–$93,000.
- Roughly $493 million in 24-hour crypto liquidations were recorded, mostly wiped-out longs, according to CoinGlass.
- Institutional flows were mixed, with BlackRock moving $125.5 million in BTC and $2.5 million in ETH to Coinbase as Matrixport withdrew 3,805 BTC from Binance, and Larry Fink said sovereign wealth funds bought recent dips.
- Key levels flagged by analysts include resistance around $93,000–$95,000, a confidence pivot near $97,000 for young long-term holders, and cycle support near the 730-day SMA at about $82,150.
- On-chain signals remain divided, with miner reserves rising toward roughly 1.8 million BTC even as some warn of a bull trap and risk of deeper downside if support fails.