Bitcoin Rebound Stalls at 4% as Rate-Cut Mood Dominates ETF Buzz — What’s Next For Price?
Bitcoin's weak 4% rebound stalled near $89,380, as macro caution over expected Fed rates overrides positive ETF news.Summary
Bitcoin's recent rebound, following a dip to $85,970, was weak, stalling at just 4% near $89,380 despite positive ETF headlines. This muted reaction is attributed to overwhelming macro caution, as the market anticipates no Federal Reserve rate cuts, limiting liquidity and follow-through momentum even after a hidden bullish divergence signaled a potential bounce.
Despite the stagnant price action, large Bitcoin holders ('whales') are accumulating, with wallets holding between 1,000 and 1 million BTC collectively adding about 18,000 BTC since January 21. However, this conviction buying is currently insufficient to overcome a significant short-term supply cluster acting as a sell wall between $90,160 and $90,590.
For Bitcoin to break out, it must decisively close above the $90,830 resistance zone, which aligns with that sell wall; a failure to hold above the strong support cluster near $84,440 could signal renewed downside risk. Until macro sentiment shifts or key resistance is cleared, the price is expected to remain range-bound.
(Source：BeInCrypto)