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Crypto

Bitcoin Holds Ground Despite $84K Dip as Institutional Demand Remains Firm

Guavy AI Editorial Team
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BTC
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Bitcoin's recent price drop below $84,000 has raised questions about its next target. Despite the decline, sustained exchange-traded fund inflows and accumulation by larger holders suggest that underlying demand remains strong.

The cryptocurrency's daily chart remains constructive despite the dip, with Bitcoin trading above its major daily moving averages. The 50-day EMA is at $76,096, providing a broad area of potential support if the correction deepens.

Institutional demand has remained firm, with US spot Bitcoin ETFs attracting $190.65 million in net inflows on Thursday. This could help stabilize the market and provide support for another attempt to move above $85,000.

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