Key takeaways
- BTC fell to the $114,500 area after earlier topping $115,000.
- The coin could drop toward the $113,000 level if bullish momentum fades.
Inflows to Bitcoin ETFs Return, But Price Stalls
Bitcoin, the leading cryptocurrency by market capitalization, has risen less than 1% over the past 24 hours despite favorable macroeconomic factors. At the time of writing, BTC is trading around $114,500 after failing to hold above $115,000.
This price action follows stabilization in institutional flows, with Bitwise reporting a net inflow of $18.74 million — a potential reversal after one of the largest recorded ETF outflow days last week.
If ETF inflows continue and implied volatility compresses, BTC could recover, potentially reclaiming prior levels around $118,000.
BTC May Re-Test $113,000 Before Recovering
The 4-hour BTC/USD chart looks bearish and consolidated, as Bitcoin has lacked strong performance in recent days. Technical indicators remain subdued while the market continues to consolidate.
A relative strength index (RSI) reading near 49 suggests the bearish momentum could weaken as it approaches a neutral zone. MACD lines are also in neutral territory, indicating ongoing consolidation.
A sustainable Bitcoin rally would require the RSI to cross above and hold above 50. If market conditions improve, BTC could rebound toward the trendline resistance near $116,000. Clearing that level would open the path for BTC to re-test the major resistance zone around $120,000 in the coming hours or days.
Market conditions, however, remain uncertain and Bitcoin could undergo a correction. In that scenario, bulls would need to defend the key support area around $112,000. If that support fails, bitcoin could trade below $110,000 for the first time since July 9.
For now, market conditions are stable with no clear bullish or bearish direction for traders.