Bitcoin Institutions Resume Net Buying at $63K
Bitcoin has seen institutions resume net buying at $63K for the first time since May, according to Charles Edwards of Capriole. This shift in institutional behavior is historically followed by significant price movements.
The current price of Bitcoin sits at $77,167.03 inside its Bollinger Bands, with the 50-EMA and 200-EMA acting as layers of support. The MACD golden cross remains bullish, while the RSI indicates overbought conditions near upper-band resistance of $81,710.26.
With price testing upper Bollinger resistance, a healthy retracement towards the 50-EMA support at $69,637.68 appears probable before continuation. This setup is already being reflected in updated BTC price prediction models and ongoing analysis of institutional crypto flows.