Bitcoin sits at a decisive crossroads, balancing between critical technical levels and powerful macroeconomic forces. Following a week of losses, a modest rebound has injected fresh speculation into the market.
Modest Rebound After Weekly Losses
Bitcoin (BTC) edged 0.5% higher in the past 24 hours, recovering to $108,824 after a challenging week in which it slipped 5.4%. This modest rebound highlights important factors: ETF inflows, whale profit-taking, technical oversold signals, and narratives of institutional adoption.
Technical Oversold Conditions Drive Dip-Buying
Bitcoin's RSI-7 fell to 32.07 on August 29, its lowest since June 2025, entering oversold territory. This prompted short-term traders to buy the dip, pushing prices back above $108K. However, the backdrop remains mixed, with the MACD histogram firmly in negative territory, indicating that bearish momentum has not fully abated.
ETF Flows vs. Whale Profit-Taking
One of the key dynamics currently influencing Bitcoin is the tug-of-war between institutional inflows and whale distribution. While ETF inflows have provided a consistent support base for BTC, on-chain data shows profit-taking from large holders weighing on upside momentum.
The coming days will test Bitcoin’s resilience as macroeconomic shifts and institutional flows collide with whale profit-taking. Whether BTC can hold above its 200-day EMA and build upward momentum is likely to define the short-term trajectory.
