Bitcoin is in a consolidation phase between $94,000 and $100,000, with weakening institutional demand reflected in $489.60 million of ETF outflows and decreasing network activity, while technical indicators like a bullish MACD crossover indicate potential upside if BTC can break above $100,000—yet muted RSI momentum and upcoming FTX repayments highlight prevailing market uncertainty, and CryptoQuant cautions that without better demand and liquidity, Bitcoin may experience further corrections down to $86,000.

KEY LOOKOUTS

• Bitcoin is ranging between $94,000 and $100,000 in the face of large ETF redemptions and softening institutional buying, which presents a tenuous price setting for risk-averse traders.

• A bullish MACD crossover presents possible upside momentum in case Bitcoin crosses $100,000, but soft RSI and low network activity continue to increase risk worries.

• Deadbeat FTX repayments are creating market uncertainty, as smaller creditor payments trigger nervousness among investors while waiting for larger payment schedules beginning on May 30.

• CryptoQuant’s report cautions that in the absence of better demand and liquidity, Bitcoin’s ongoing consolidation might fail, potentially dropping prices to support levels at $86,000.

Bitcoin is ranging between $94,000 and $100,000 as institutional appetite falters, with ETF redemptions worth $489.60 million supporting weak market conditions. A bullish MACD crossover suggests possible uptrend momentum if Bitcoin breaks above $100,000, though muted RSI readings and low network activity hint at continued market conservatism. CryptoQuant cautions that without enhanced demand and liquidity, Bitcoin may fall to support levels around $86,000, with FTX repayment uncertainties providing additional investor jitters.

Bitcoin is ranging between $94,000 and $100,000 on weak institutional buying and heavy ETF outflows. A bullish MACD crossover indicates upward momentum, but muted RSI and low network activity call for caution. CryptoQuant advises that without enhanced demand and liquidity, Bitcoin can fall to support levels around $86,000.

•  Bitcoin has been ranging between $94,000 and $100,000 since early February.

•  US Bitcoin spot ETF flows indicate net withdrawals of $489.60 million through Thursday.

•  CryptoQuant cautions that without better demand and liquidity, Bitcoin may fall to about $86,000.

•  Institutional demand is declining, contributing to the present delicate market conditions.

•  Deceased FTX payments have brought further uncertainty, with smaller creditors already being paid.

•  A bullish MACD crossover indicates possible upward momentum in case Bitcoin breaks the $100,000 barrier.

•  Slowing network activity and multi-month low volatility indicate investor caution.

Bitcoin has been ranging between $94,000 and $100,000, with dipping institutional demand and high ETF outflows. The sentiment of the current crypto market is further subdued by weak network activity, with the network activity index of Bitcoin being the lowest in a year, reflecting a general loss of interest in the markets. This deteriorating demand, along with persisting fears about liquidity, is keeping investors nervous, with some expecting additional price corrections if things do not start looking up. On the other hand, market uncertainty has been compounded by the process of repayment of FTX creditors that has created further uncertainty.

BITCOIN Daily Price Chart

TradingView Prepared by ELLYANA

These trends have resulted in a tentative market environment where aggregate demand seems to be declining. Furthermore, the ongoing exercise of settling creditors by the collapsed FTX exchange has contributed to existing uncertainty among stakeholders. Market players are monitoring these events keenly, as sustained issues with demand and liquidity may have long-term implications for the wider Bitcoin ecosystem.

TECHNICAL ANALYSIS

Bitcoin technicals imply a guarded accumulation for a possible directional move. The bullish MACD crossover of the daily chart implies a likely surge in momentum in case Bitcoin is able to break through the $100,000 mark, and the RSI staying close to its neutral point of 50 indicates an even tug-of-war between buyers and sellers. The consolidation in the $94,000 to $100,000 range indicates a time of balance, with low volatility and moderate volume supporting the idea that a major breakout or breakdown may be on the horizon.

FORECAST

If Bitcoin is able to break convincingly above the $100,000 level, the market is likely to find renewed bullish thrust, with upside price action in the direction of the January 30 high of around $106,457. Favorable technical signals like the MACD crossover indicate a probable sustained upside based on growing momentum fueled by optimistic investor sentiment or favorable market developments.

If Bitcoin is unable to hold support at the present consolidation level and breaks below $94,000, it may be subject to further price corrections. Further weakening of demand and liquidity conditions, along with uncertainty in the market, might push Bitcoin’s price down to critical support levels around $86,000. This could be worsened by low network usage and continued institutional outflows, which are indicators of a weakening market.