Bitcoin climbed back above $86,000 on Monday, signaling renewed stability after last week’s sharp decline. The slight rebound followed a deeper pullback that pushed BTC to multi-week lows. The broader crypto market also posted a modest 1% gain in the past 24 hours, hinting at a cautious improvement in sentiment after several days of intense selling and widespread liquidations.
Major cryptocurrencies including Ethereum, Ripple, Solana, and Dogecoin also started the week with small gains. These assets are holding above important support levels, suggesting that the recent recovery may continue. Still, analysts warn that sentiment remains fragile, and any slowdown in momentum could quickly weigh on the market again.
Traders are also watching signals from the U.S. Federal Reserve. Chair Jerome Powell could support a 25-basis-point rate cut at the December meeting, though opinions within the Fed remain divided. A more positive tone from Powell may improve broader financial conditions and potentially strengthen demand for risk assets like Bitcoin.
Bitcoin ETFs Record Heavy Outflows
Last week, U.S. spot Bitcoin ETFs saw significant outflows totaling $1.22 billion. This marked the fourth consecutive week of redemptions, including daily withdrawals of up to $238 million. Monthly outflows have now reached $3.55 billion, reflecting continued investor caution despite the recent price recovery.
Will Bitcoin Break Toward $100K?
BTC briefly touched $86,800 and has been consolidating in a narrow range after last week’s aggressive sell-off. Technical indicators show early signs of improvement.
- The MACD histogram has turned positive, signaling growing bullish momentum.
- Both MACD lines crossed upward, suggesting rising demand after the correction.
- The RSI sits near 47, showing a neutral but slightly improving trend.
If Bitcoin manages to break above the $90,000 resistance, the next target could be $92,000. A sustained move higher may put the $100,000 level back into play as a medium-term objective, especially with long-term forecasts for Bitcoin remaining optimistic.
However, a drop below $84,000 could weaken the recovery. A deeper decline toward the critical $80,000 support zone would increase downside risk and challenge the broader bullish outlook.
