Bitcoin News Today: Institutions Double Down as Bitcoin Tests $100K Support

Bitcoin's price has retreated below $100,000, sparking renewed debates about whether the cryptocurrency's recent parabolic rally has reached a critical inflection point. The decline, which saw BTC dip to a 2025 low of $98,900 in late October, has triggered over $1.3 billion in crypto liquidations and a 13% drop in the market capitalization of publicly listed Bitcoin treasuries, now valued at $123.6 billion, according to a TradingView report. The selloff has tested key support levels, with analysts divided on whether this represents a temporary correction or a more profound bearish shift.

Institutional players, however, remain undeterred. Michael Saylor's Strategy Corporation, which holds 640,808 BTC and $23.2 billion in unrealized gains, announced a 10.5% monthly dividend on its STRC stock in October, a 0.5% increase from the prior month, as reported in a Yahoo Finance article. Saylor emphasized the company's overcollateralized structure, leveraging historical Bitcoin profits to mitigate downside risk while aggressively funding further BTC purchases. Meanwhile, Prenetics Global, a health sciences firm, allocated $11 million to acquire 100 BTC, expanding its holdings to 378 BTC worth $41 million, according to an Investor Empires report. CEO Danny Young described the move as a strategic execution of the company's dual focus on health innovation and Bitcoin accumulation.

The bearish sentiment is reflected in exchange-traded fund (ETF) outflows. On October 30, spot Bitcoin ETFs recorded $488.43 million in net outflows, led by BlackRock's IBIT, according to a TradingView note. Despite the decline, total assets under management remain at $143.94 billion across 12 issuers. Technical analysts note that Bitcoin is trading below key moving averages and faces critical resistance at $109,800 and $110,500; a sustained break below $100,000 could push prices toward $96,200, though bulls are eyeing a potential rebound above $108,900 as a catalyst for a test of $114,500, according to a TradingView analysis.

The bearish momentum has also drawn commentary from high-profile figures. Charles Hoskinson, founder of Cardano, remarked on the "profoundly magical" nature of U.S. Treasury Secretary Scott Bessent's recent pro-Bitcoin stance, signaling a shift in institutional acceptance, as covered by Yahoo Finance. Meanwhile, Wall Street veteran Jordi Visser likened the current price action to an "IPO-style distribution," where long-term holders and miners take profits to diversify into AI and Chinese equities; Visser argued that Bitcoin's lower volatility (now ~30%) and low correlation to traditional assets strengthen its case as a portfolio diversifier in a Benzinga piece.

Not all news is bearish. France's proposed Bitcoin Strategic Reserve, aiming to acquire 420,000 BTC over seven years, underscores growing geopolitical adoption. In the U.S., Steak 'n Shake's Bitcoin promotion—gifting 210 satoshis per meal—signals crypto's encroachment into everyday commerce, while the Best Wallet presale neared $17 million, highlighting institutional-grade custodial solutions gaining traction in a CryptoNews report. The Michael Saylor dividend announcement noted above further illustrates how some firms are using treasury strategies to navigate the downturn.

Looking ahead, the interplay between macroeconomic factors and institutional demand will likely dictate Bitcoin's trajectory. While short-term technical indicators lean bearish, companies like Strategy and Prenetics continue to accumulate BTC, betting on its long-term value. As Visser noted, "Once this distribution phase is complete, the fundamentals take over next year." For now, the market watches closely as Bitcoin tests its psychological $100,000 floor.