Bitcoin Price Holds Steady at $96.5K Amid Increased Supply on Exchanges

Bitcoin's price has remained around $96.5K for the past nine days amid low bullish momentum and macroeconomic uncertainties from tariff wars. The gold market recently closed above $2,927 per ounce, which may influence Bitcoin's trajectory as it is viewed as digital gold.

Bitcoin Whales Capitulate

Supply on centralized exchanges rose from 2.13 million to 2.23 million BTC.
US spot BTC ETFs reported a net cash outflow exceeding $500 million in three days.
BlackRock’s IBIT saw a net cash inflow of about $26.21 million.

Midterm BTC Price Expectations

Bitcoin shows mixed signals with potential double top formation near $109K.
Weekly RSI indicates bearish divergence, increasing market reversal risks.
Holding above $95.6K support level could lead to bullish patterns forming.
A close above $106K is necessary for a rally towards $120K.
Consistent closes below $95.6K may push the price toward $91K or lower.

Bigger Picture

Mainstream adoption by nation-states could significantly impact Bitcoin's future.
Long-term investors continue to accumulate BTC to hedge against inflation.
Publicly traded companies have amassed over 3.1 million BTC in treasuries.