Bitcoin continues to demonstrate significant volatility, leaving traders awaiting its next movement. An overview of the current status shows that the asset remains in a stable price range, attracting attention from both retail and institutional investors.
Current Bitcoin Price
At the moment, Bitcoin is consolidating within a descending triangle between price levels of $100,000 and $105,000. This graphic representation shows that the price repeatedly encounters resistance, unable to break above the specified line, but finding support at a horizontal level.
Return of Institutional Investments
Despite the caution of retail traders, some large institutions are once again beginning to purchase Bitcoin and Ethereum. According to an analyst, on June 12, there was significant inflow - 795 BTC worth approximately $86.3 million moved into institutional wallets, along with 40,540 ETH valued at $112.3 million. Major players like BlackRock are actively increasing their stakes in Bitcoin.
Traders' Sentiments and Further Predictions
Analytics from a firm indicate that traders began to bet long after the recent price dip. However, this behavior may lead to sharp price fluctuations if the market does not meet expectations. Interestingly, while Bitcoin traders grow more optimistic, Ethereum traders have begun to decrease their positions, suggesting a potential shift in short-term cash flows.
The current situation in the Bitcoin market may be a defining factor in its future movements. Observing institutional flows and trader sentiment will provide insights into the direction of the market.
