Bitcoin News Today: Crypto Bulls and Bears Locked in Tug-of-War as Bitcoin Defies Selling Pressure

Bitcoin Capitulation Unlikely Amid Resilient Support Levels

Bitcoin (BTC) has shown unexpected resilience amid persistent selling pressure, trading above $92,000 on Thursday as key support levels hold firm. The cryptocurrency's ability to maintain these thresholds, coupled with renewed inflows into Bitcoin spot exchange-traded funds, suggests that a full capitulation in the market remains improbable for now.

Mild inflows into U.S.-listed Bitcoin ETFs, totaling $74 million on Wednesday, have signaled a cautious return of institutional confidence. SoSoValue data reveals cumulative net inflows of $58 billion, with assets under management reaching $117 billion. While this is a positive sign, analysts caution that sustained inflows are critical to propelling Bitcoin toward $100,000. "The ETF narrative is still a work in progress," noted one strategist, highlighting the need for continued buying pressure to validate a recovery.

Ethereum (ETH) and XRP have also demonstrated defensive strength. Ethereum remains above its $3,000 support level, though it lingers below key moving averages, reflecting a bearish technical structure. XRP, meanwhile, teeters near its $2.00 support, with derivatives activity showing a decline in open interest to $3.79 billion. A break below $2.00 could trigger a deeper correction to $1.90, but bulls remain optimistic about a rebound toward the 50-day EMA at $2.45.

Institutional activity further underscores the market's mixed signals. Ark Invest, managed by Cathie Wood, added $39.6 million in crypto-related equities-Bullish (BLSH), Circle Internet (CRCL), and Bitmine (BMNR)-as their prices fell. The firm's "buy the dip" strategy highlights confidence in long-term value, despite a broader market selloff that saw Bitcoin dip below $85,500 earlier this week.

Global macroeconomic developments also play a role. Japan's approval of a $135 billion stimulus package to combat inflation sent ripples through markets, yet Bitcoin continued its decline, dipping to $85,480. The disconnect between fiscal easing and BTC's performance has puzzled analysts, as the asset is often viewed as a hedge against inflationary pressures.

Arthur Hayes, co-founder of BitMEX, has forecasted a potential rebound for Bitcoin following a liquidity-driven pullback. He warned that a $1 trillion decline in U.S. dollar liquidity since July could trigger a short-term dip to $80,000–$85,000 before a broader upswing in 2026. Hayes anticipates easing from the Federal Reserve and People's Bank of China could eventually push BTC toward $200,000–$250,000.

Technical indicators remain split. Bitcoin's MACD has maintained a sell signal since November 3, while the RSI for Ethereum approaches oversold territory at 32. A sustained move above $92,000 would be a key catalyst for bulls, but the path remains fraught with risks, including potential regulatory shifts and macroeconomic volatility.

In the altcoin space, Solana (SOL) has benefited from steady ETF inflows, with cumulative net inflows reaching $476 million since their October 28 debut. However, open interest has declined to $7.2 billion, raising concerns about the sustainability of its $141 price level.

The broader crypto landscape remains a tug-of-war between bearish fundamentals and bullish institutional sentiment. While support levels hold for now, the market's next move will likely hinge on whether ETF inflows can outweigh macroeconomic headwinds and regulatory uncertainty.