Bitcoin’s Fight With the Bears as Prices Slash Below $105K – Here’s When the Bull Run Will Revive

The Bitcoin price has been consolidating within a predetermined range ever since the token faced a rejection from the highs above $109K. After recording huge bullish candles, the buyers seem to have exhausted or they may be waiting for the token to reach a certain range. Meanwhile, the token has successfully defended the support at $103,485, despite a rise in the upward pressure, suggesting the bulls remain vigilant as they appear to be optimistic about the upcoming BTC price rally. 

The institutions are constantly buying Bitcoin as the spot ETFs witnessed over $500 million in inflows during the past reading day, maintaining the 7-day streak of positive inflow. With this, the total Bitcoin spot ETF assets have reached more than $123 billion. Interestingly, Blackrock’s Bitcoin ETF volume surpassed $1 billion in the first two hours of trading, hinting towards a raised interest among the market participants. 

On the other hand, the long-term holders have liquidated a huge amount of BTC, which raises concerns over the next price action. However, the token continues to remain elevated as the higer targets still remain active with the hopes of a new ATH.