$BTC
BITCOIN HOLDS ABOVE $85,000 SUPPORT
Price Stability: Bitcoin is trading at $86,744, maintaining its position above the critical $85,000 support level despite recent market pressure.
Technical View: Indicators are mixed; the hourly MACD suggests weakening bearish momentum, while the daily RSI remains neutral around 48.
Market Movers: Renewed institutional buying and positive ETF inflows of $346.1M are countered by significant whale selling of over 50,000 BTC.
Market Overview
Bitcoin is priced around $86,744, down 0.67% in 24 hours but holding above the key $85,000 support level.
It maintains a market cap of $1.72 trillion and a 24-hour volume of $43.68 billion, with a market dominance of 59.4%.
Spot Bitcoin ETFs saw a net inflow of $346.1 million on December 17, reversing previous outflows and suggesting a shift in institutional sentiment.
The Fear & Greed Index is at 22, indicating "Fear" in the market.
Core Driving Factors
Institutional buying is resurgent, recently outpacing new supply for the first time in six weeks, signaling renewed large-scale interest.
A maturing regulatory landscape, including new frameworks in the U.S. and UK, is expected to enhance investor confidence in crypto assets.
Reports indicate Bitcoin's 2025 price volatility has been lower than some major tech stocks, increasing its appeal as a "de-risked" asset.
However, significant selling pressure exists from whales, who have sold over 50,000 BTC in the past week, potentially limiting price growth.
Binance Earn is offering users the opportunity to stake their BTC through the Babylon protocol for an estimated APR of 2.5%.
Key support is the $85,000-$85,800 zone, while immediate resistance lies at $89,400-$90,100.
A breakout above resistance could target $93,000,
The 1-hour MACD shows waning bearish momentum, and the RSI is neutral around 49.6, suggesting room for price movement.
A range-trading strategy could be effective, buying near support and selling near resistance, with a stop-loss below $84,000.
