Bitcoin retraced below $84K but institutional inflows ($2.5B into spot ETFs), declining exchange balances, and technical indicators suggest bullish momentum toward $100K.
Macro & Markets ·
Bitcoin retreated to $83,800 after briefly reaching $87,000 earlier in the week, though spot Bitcoin ETFs attracted over $2.5 billion across five consecutive trading days, signaling sustained institutional demand. Exchange reserves have fallen to a four-month low of approximately 2.7 million BTC, suggesting investors are moving holdings to self-custody and limiting near-term selling pressure. Whale accumulation totaled nearly 114,000 BTC since mid-July, with large holders now controlling roughly 5.24 million units, while technical indicators including a double-bottom formation and Bitcoin's recent close above its 365-day moving average point toward a potential $100,000 target, according to https://cryptopotato.com/3-reasons-bitcoins-bullish-trend-remains-intact-despite-the-drop-below-84k/.