BTC up ~0.40% in the last 24h as institutional demand grows, though technical signals stay mixed.
Bullish
1. Institutional Momentum: Texas bought $5M into BlackRock’s iShares Bitcoin Trust. Nasdaq filed to lift the option contract limit to 1,000,000. Big money is stepping in.
2. Short-Term Trend Up: EMA7 > EMA25 > EMA99 and RSI above 50 signal positive momentum.
3. Short Squeeze Fuel: BTC’s jump above $91,000 wiped out $241M shorts, adding fire to the move.
Risks
1. MACD Flip: MACD crossed below its signal with an expanding negative histogram. Momentum may cool.
2. Whale Sell Pressure: 9,000 BTC deposited to exchanges. One whale cashed out 200 BTC for $18.35M.
3. Weak Spot Demand: Low liquidity raises concerns about the sustainability of the rebound.
Market Sentiment
Mixed. Some eye the $100K breakout, others worry about low liquidity and fragile spot demand.
