Bitcoin Price Stuck at $97K While Institutions Drop $2.05B – Big Move Ahead?

Bitcoin Price Analysis

Bitcoin (BTC) continues to hover below the critical $97,000 resistance level, with the price currently at $96,772.18 after a modest 1.10% gain.

Daily trading volume has reached $48.43 billion, reflecting ongoing market interest despite lackluster price action.

The recent release of U.S. core CPI data, which showed inflation at 3.0% versus the anticipated 2.9%, has added downward pressure, prompting cautious sentiment among investors.

Institutional Interest Surges: Goldman Sachs Bets Big on Bitcoin

Despite the stagnant price action, institutional players are doubling down on Bitcoin. Goldman Sachs recently increased its Bitcoin ETF holdings to $2.05 billion, marking a 121.1% growth from the previous quarter.

The bank’s portfolio now includes $1.57 billion in assets across multiple ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin ETF (FBTC).

This surge in institutional participation signals confidence in Bitcoin’s long-term growth potential, even amid short-term volatility.

Bitcoin Supply Shrinks as Demand Rises

Bitcoin’s supply on exchanges has dropped to a two-year low, with only 2.5 million BTC available. Approximately 69% of the total supply is now held by individual investors, limiting the availability of tradable Bitcoin.

This supply crunch, coupled with rising institutional interest, could set the stage for a significant price rally.

If Bitcoin breaks above $97,200, the next target is $100,000; however, a dip below $95,000 might trigger liquidations exceeding $1.52 billion.

Bitcoin Price Outlook – February 13, 2025

Bitcoin (BTC/USD) is trading at $96,120, displaying a cautious stance within a symmetrical triangle formation. The 50-EMA at $96,770 is acting as dynamic resistance, capping upward moves. Immediate support lies at $95,100, with a potential drop toward $93,566 if selling pressure intensifies.

A break above $96,900 could target resistance at $98,900, while a move past this level might open the door to the psychological $100,600 zone.

The tightening pattern suggests a breakout is imminent, with the triangle apex approaching. Traders should watch for increased volume to confirm a potential breakout direction.

Key Insights:

• Bitcoin hovers near $96,125, testing critical resistance at $96,919.
• Symmetrical triangle pattern signals an impending breakout.
• Support at $95,100 could lead to $93,550 if broken.

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