Bitcoin Latest Updates: Major Investors Increase Their Holdings, Keeping Bitcoin Steady Over $105K Despite $1.7B ETF Withdrawals

Bitcoin has maintained its position above $105,000, with market watchers focusing on a descending wedge pattern on the 4-hour chart. If this pattern breaks upward, it could drive Bitcoin toward the $120,000 mark. The latest recovery comes after a late-October downturn, with solid support near $102,500 and the 50-day moving average providing an additional buffer around $103,000

. Technical signals show the RSI hovering in the mid-50s, indicating there is still room for growth before hitting overbought levels. If Bitcoin can close consistently above $106,000, it may spark renewed toward $110,000, and if $112,000 is surpassed, the price could target the $118,000–$120,000 range .

Large-scale investors, or whales, have been instrumental in keeping Bitcoin's price steady. Even with $1.7 billion leaving and ETH ETFs, holders with over 10,000 BTC have more than doubled their assets, accumulating over 36,000 BTC in recent weeks. This buying activity by major players has helped secure Bitcoin above $100,000, providing a bullish base despite ETF-related volatility . In contrast, mid-tier investors have pulled back on their purchases, which has intensified outflows but hasn't undermined the overall support .

The resolution of the U.S. government shutdown has further encouraged risk appetite, with Bitcoin climbing even as Treasury yields and the dollar both strengthened. Historically, Bitcoin has performed well during times of fiscal easing, and experts point out that the current environment—with persistent inflation expectations but reduced fiscal worries—resembles previous periods of strong rallies

. Correlation data also shows Bitcoin gradually moving independently from the NASDAQ 100, with the 30-day correlation falling from 0.73 to 0.64, highlighting Bitcoin's growing status as a standalone asset .

On-chain metrics add to the positive outlook. The hash rate continues to rise, signaling strong network security and miner profitability, while exchange liquidity has improved as market makers return. The BTC/USD spread has tightened to $6–8 from $12–15 during the peak of shutdown-related volatility, and derivatives markets are showing lower funding rates, suggesting less speculative leverage—a healthy sign for price stability

. Institutional interest is also apparent, with spot trading volumes up 12% from the previous week and perpetual futures markets showing stronger hedging activity .

Nevertheless, some risks persist. Should Bitcoin dip below $100,353—the 50% Fibonacci retracement—it could face renewed selling pressure. While the RSI and MACD currently indicate that bearish momentum is fading, a sustained recovery will require the RSI to move above the neutral 50 mark and further convergence of the MACD lines

. Experts warn that ongoing ETF outflows could prolong the correction, though current technical and on-chain signals still point to a bullish outcome .

Wider macroeconomic factors are also favorable for Bitcoin's path. Stronger-than-expected employment or inflation figures could reinforce expectations that the Federal Reserve will hold rates steady through early 2026, indirectly supporting riskier assets. Additionally, Bitcoin's recent divergence from the global M2 money supply—a measure often linked to liquidity—suggests it is starting to lead macroeconomic cycles instead of just following them

. This shift is largely attributed to increased institutional involvement through ETFs and similar products, which have brought steady inflows into the crypto sector .

As the crypto market prepares for possible volatility ahead of major economic reports, Bitcoin's technical positioning and supportive macro backdrop make a strong case for a breakout. With whales accumulating and institutional demand providing stability, the conditions are set for a challenge of key resistance levels in the near future.