Bitcoin ETFs & Holiday Volatility -- Quick Take 🔥
$BTC is hovering near $88K as heavy spot ETF outflows (over $1.1B in six days) add short-term pressure. The move is largely seen as seasonal—driven by year-end tax harvesting and portfolio rebalancing—rather than a loss of institutional conviction.
Technicals are mixed : short-term momentum looks stretched with the 1H RSI in overbought territory, while higher timeframes still show selling pressure. Key support sits around $85.5K, with resistance near $90K.
Whale data leans bearish with a strong short bias, suggesting volatility may continue. A hold above support could stabilize price, while a clean break above $90K would shift momentum bullish again.
