BTC consolidates below key resistance zone
Bitcoin (BTC) trades around $93,000 on Tuesday, consolidating below a key resistance zone after its recent rally. Institutional demand remains strong, supported by record inflows into US-listed spot Exchange Traded Funds (ETFs) and continued accumulation by Strategy Inc. The company’s latest Bitcoin purchase and expansion of USD reserves reinforce confidence in BTC’s near-term outlook.
Institutional interest in Bitcoin continues to build. According to SoSoValue data, spot Bitcoin ETFs recorded $697.25 million in inflows on Monday — the highest single-day inflow since October 7, when BTC reached an all-time high of $126,199. Sustained inflows could trigger further upside momentum in BTC price.
On the corporate front, Strategy Inc. Executive Chairman Michael Saylor announced the purchase of 1,287 BTC on Monday, bringing the firm’s total holdings to 673,783 BTC. This move underscores Strategy’s aggressive accumulation strategy and long-term conviction in Bitcoin.
The company also increased its USD liquidity reserve by $62 million to $2.25 billion, signaling stronger financial flexibility for future acquisitions.
Bitcoin closed above the $90,000 consolidation range on Saturday and retested the 61.8% Fibonacci retracement level at $94,253 on Monday, drawn from the April low of $74,508 to October’s high of $126,199. BTC is currently consolidating below the $93,000 resistance zone.
A daily close above $94,253 could open the path toward the psychological $100,000 level.
The Relative Strength Index (RSI) reads 64, above the neutral 50 level, indicating bullish momentum.
The MACD indicator shows a bullish crossover with rising green histogram bars above the zero line — further supporting the upside bias.
If BTC faces a correction, the $90,000 level will act as key support. A break below this level could expose the asset to deeper retracement, though current technical signals favor continued bullish momentum.