Bitcoin prices continue to rise, approaching the resistance level of $85,000, despite growing concerns about institutional outflows and low retail engagement.
ETF Outflows Raise Institutional Red Flags
Despite BTC’s upward movement, capital from U.S. exchange-traded funds (ETFs) experienced outflows totaling $713.30 million last week. This follows a $172.69 million outflow the week prior, indicating a cooling conviction among institutional investors as market volatility increases.
Metaplanet Boosts BTC Holdings
Japanese investment firm Metaplanet confirmed Monday that it purchased 319 BTC for ¥3.7 billion ($26.3 million) at an average price of $82,549. This acquisition highlights the firm’s long-term strategy, now holding 4,525 BTC.
Derivatives Show Bullish Bets on $100K BTC Price
Amberdata’s data indicates that the $100,000 strike price holds the highest open interest volume among BTC calls, exceeding $1.19 billion. This concentration suggests a growing speculation of a potential rally.
While Bitcoin prices trend toward $85,000, the current market diverges from previous cycles. ETF outflows and cautious capital indicate a different type of bullish market characterized by patience.
