The Crypto Fear and Greed Index has dropped to 35, indicating increased fear and uncertainty in the market. Bitcoin is struggling to maintain its position near the $97,000 mark and is facing a 1.08% pullback. The lack of institutional support suggests a potential deeper correction, although a morning star pattern hints at a possible bullish comeback. Bitcoin is currently consolidating between the 50-day and 100-day EMA lines, with the MACD signaling a sell despite being at a key support level. The morning star pattern increases the likelihood of a bullish reversal rally and a broader market recovery. If Bitcoin maintains support within an ascending triangle pattern, it could test the overhead resistance at $106,000 with a potential upside of 10%. However, a failure to sustain dominance at the support level could lead to a major crash. The immediate support is at $91,000, and a closing below that level would increase downside risks. In terms of institutional activity, there is a divergence in opinions, with Grayscale Mini BTC Trust being the only buyer with an inflow of $5.15 million, while Fidelity and Grayscale BTC Trust were major sellers. Grayscale BTC Trust has a cumulative net outflow of $21.91 billion, suggesting continued selling pressure. The largest Bitcoin ETF, BlackRock, maintained a neutral stance with zero net flow.



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