Bitcoin has dropped to around $73,800 after shedding nearly 6% over the past week, as sentiment turned shaky amid renewed institutional outflows. Ongoing pressure from ETF redemptions is amplifying downside risks, keeping traders alert for any signs of a rebound or further weakness as the week unfolds.
Highlights
- Bitcoin fell 6.01% over the past 7 days to $73,765, now trading just above key long-term support.
- Momentum remains weak with persistent selling pressure and overall volatility at 11.26% for the week.
- Next week, Bitcoin is projected to trade between $69,431 and $78,099, with a 79% chance of further decline.
Largest weekly etf withdrawals as regulatory uncertainty and large sales weigh
Institutional selling dominated the landscape last week as U.S. spot Bitcoin ETFs saw net outflows totaling about $1.28 billion, the largest withdrawal since late June, with BlackRock’s iShares Bitcoin Trust (IBIT) responsible for most of the redemptions, according to Yahoo Finance and Investing.com. This exodus has been tied to heightened regulatory uncertainty following a Democratic sweep of Congress, increasing caution among market participants (source: Investing.com). Additionally, MARA Holdings liquidated 13,597 BTC to raise $1.1 billion for debt repayment and restructuring, as reported by crypto.news. In contrast, The Block noted that Strategy (formerly MicroStrategy) increased its Bitcoin holdings by 1,036 BTC.
Support at ma-200 tested as technical signals flash caution over the week
On the daily chart, the structure is turning cautious as Bitcoin hovers near its MA-200, underscoring the significance of this support in the broader context. Stochastic RSI and CCI are both in oversold territory, suggesting conditions may be stretched to the downside and raising the potential for a rebound, while RSI at 33.74 remains neutral. Momentum signals—including MACD and Bull/Bear Power—continue to point to selling pressure, and volatility over the past 7 days stands at 11.26%, reflecting a sharp move lower without a sustained trend. Immediate levels to watch are support at $73,190 and resistance at $78,190, with the Ichimoku Kijun at $78,812 acting as an additional barrier.
Downside risk dominates as range-bound bias faces breakout scenarios
Over the next 7 days, the expected trading range is $69,431 to $78,099. The probability of an increase is 21% versus a 79% chance of a decrease. The base case sees Bitcoin fluctuating between support at $73,190 and resistance at $78,190 as the developing trend seeks direction. A break above $78,190 could open the way toward a recovery, while slipping below $73,190 would bring the lower bound of the projected range into play.
Previously it was reported that David Schwartz, former Ripple CTO, significantly reduced his cryptocurrency holdings due to discomfort with market volatility and risk. Recent trading developments add a new dimension, with outsized ETF outflows and major corporate liquidations reinforcing the prevailing downside scenario and bringing the $69,431–$78,099 range into focus as the primary zone for short-term positioning.
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