Over 24 hours, #Bitcoin rose 1.95% to $91,347, driven by a technical breakout, institutional signals, and a derivatives reset.
š„ Key Drivers:
Break of $90K resistance: MACD positive, RSI exited oversold.
Hints from Saylor's team ("orange dots") fueled buy expectations.
$316M liquidations (67% longs) cleared excess leverage.
Spot ETF inflows of $71.4M reversed a weeks-long negative trend.
š Technicals: $BTC broke the descending trend, holding above the 100-hour SMA and the key 61.8% Fib ($87,800). Holding above $91,650 opens a path to $93K. A drop below $90K risks a fall to $87,800.
š§© Institutional: Michael Saylor's firm ($11.7B in #BTC ) influences the market. The ETF inflow eased sell-off fears. An SEC notification from his firm is awaited next week.
āļø Derivatives: The $316M liquidation reduced systemic risk. Low funding rates support holding, but a drop below $90K may trigger new liquidations.
šÆ Outlook: BTC shows resilience with improved tech analysis, stable institutional flows, and cleared leverage. However, it's still down 11.4% over 30 days, with the market focused on the Dec 10 FOMC.
š Levels to Watch: Above $93K targets the 200-day SMA (~$109K). Below $90K risks a fall to $86,500.
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