Bitcoin News Today: Institutions Pour $314M into Bitcoin as Bull Market Pushes Toward $115k

Bitcoin Eyes $115k as Bull Market Strengthens With RUL Below 5%

Bitcoin (BTC) has surged toward $112,000, with market participants eyeing a potential break above $115,000 as bullish momentum gains traction. The cryptocurrency's recent performance has been fueled by a combination of institutional adoption, regulatory developments, and technical indicators suggesting a strengthening bull market. Meanwhile, the "RUL" (Realized Unrealized Loss) metric, which measures the proportion of Bitcoin held at a loss, has fallen below 5%, signaling growing confidence among long-term holders, according to a CoinCentral report.

The Federal Reserve's recent announcement of plans to explore payment accounts for crypto firms has further bolstered market sentiment, according to a Benzinga report. This move could grant cryptocurrency companies access to the Fed's payment systems, potentially legitimizing Bitcoin as a mainstream asset class. Institutional activity has also intensified, with BlackRock depositing 2,854 Bitcoin (worth ~$314 million) and 29,639 Ethereum (ETH) into Coinbase Prime in a single day, underscoring sustained demand for regulated custody solutions, according to a Coinotag report.

Bitcoin's price action has been supported by key on-chain metrics. The cryptocurrency has stabilized above the critical $110,000 threshold, with a break above $112,000 potentially opening the path to $115,800, the next major resistance level, CoinCentral reports. However, derivatives traders are hedging against volatility, with heavy options selling concentrated between $109,000 and $115,000, suggesting defensive positioning ahead of a potential breakout, according to an AmbCrypto analysis.

The broader crypto ecosystem has also seen significant developments. BitcoinOS, a decentralized finance (DeFi) project, raised $10 million in funding led by Greenfield Capital to expand its institutional Bitcoin finance tools, according to a Decrypt report. Meanwhile, Ethereum's treasury, SharpLink Gaming, made its first ETH purchase in weeks, acquiring 19,271 ETH at an average price of $3,892, pushing its total holdings to 859,853 ETH, Decrypt reported.

Market dynamics remain mixed, with Bitcoin ETFs experiencing $20.3 million in inflows on October 23, led by BlackRock's iShares Bitcoin Trust (IBIT), which saw $107.8 million in net inflows, according to CoinCentral. In contrast, Ethereum ETFs continued to face outflows, with a combined $127.5 million in redemptions. Analysts attribute this disparity to Bitcoin's stronger institutional adoption and its status as the dominant crypto asset.

Despite the bullish backdrop, risks persist. A failure to hold above $110,000 could see Bitcoin retreat toward $105,000 or even $100,000, particularly if macroeconomic uncertainties or regulatory headwinds emerge, AmbCrypto warns. Additionally, concerns over Colombia's potential permanent 19% VAT on gaming deposits have weighed on Rush Street Interactive (RSI), a stock with exposure to the crypto space, causing a 15% decline in its shares, according to an Investing.com report.

Technical indicators suggest a period of consolidation. Bitcoin's RSI (Relative Strength Index) has risen from oversold levels, while Bollinger Bands are tightening, signaling compressed volatility ahead of a potential breakout, AmbCrypto noted. Open interest in Bitcoin futures remains elevated, reflecting sustained but cautious positioning among traders, CoinCentral data show.

As the market navigates these dynamics, the path forward hinges on whether spot demand and ETF inflows can overcome hedging activity and volatility. With the RUL below 5% and institutional support growing, Bitcoin's trajectory toward $115,000 remains a focal point for bulls-but a final verdict may depend on upcoming macroeconomic data and regulatory clarity.