Bitcoin News Today: Mid-Sized Holders Stabilize Bitcoin Amid ETF Exodus, Macro Headwinds

Bitcoin (BTC-USD) reclaimed the $90,000 threshold on Wednesday, marking its first close above that level in nearly a week amid a broader rebound from a sharp slump that saw prices dip as low as $80,400 on Nov. 21 according to Seeking Alpha. The 3% gain in 24 hours brought optimism to a market grappling with a ~$3.79 billion exodus from Bitcoin exchange-traded funds in November alone per 247 Wall Street. However, the rally remains fragile, with BTC still down 19% month-to-date and 5% year-to-date, as traders weigh the sustainability of the recovery against persistent macroeconomic headwinds and structural selling pressures.

The recent volatility reflects a tug-of-war between institutional and retail forces. While large whale wallets and retail investors continued to offload holdings, mid-sized holders-those with 10–1,000 BTC-emerged as stabilizing actors, accumulating 365,000 BTC by Nov. 23, a record high for accumulator demand. Meanwhile, spot Bitcoin ETFs saw a rare $238 million inflow on Tuesday, signaling tentative re-entry by institutional liquidity after weeks of deleveraging as reported by Seeking Alpha. Farzam Ehsani, CEO of crypto trading platform VALR, noted that the rebound could gain traction only if BTC decisively breaks above $90,000 with renewed retail volume and sustained ETF flows according to Seeking Alpha.

Technical indicators also hinted at a potential short squeeze. Negative futures funding rates, which briefly turned bearish as traders liquidated leveraged long positions, suggested exhaustion among aggressive buyers. Tim Enneking, a crypto analyst, attributed the stabilization to institutional treasuries re-entering the market after a six-week pause, a move he described as driven by psychological thresholds rather than fundamental shifts. Conversely, CryptoQuant's Bull Score Index plummeted to 20/100, its lowest since the 2022 bear market, as BTC fell below its 365-day moving average of $102,600-a critical technical level.

The market's fragility was underscored by broader macroeconomic trends. The Federal Reserve's November meeting dashed hopes for rate cuts in December, while rising Treasury yields and a strengthening dollar eroded risk-on sentiment according to 247 Wall Street. Additionally, miners, who had been net sellers for two weeks in November, added short-term downward pressure before resuming accumulation. Analysts highlighted the rotation of capital into high-beta altcoins like Solana (SOL-USD) and XRP (XRP-USD), which saw institutional inflows outpace Bitcoin's as investors sought near-term gains according to 247 Wall Street.

Looking ahead, the path for BTC remains uncertain. A sustained break above $90,000 could trigger a retest of the $102,600 resistance level, but failure to hold the $85,000 support zone risks a slide toward $83,500, a key Fibonacci retracement level. CryptoQuant's report warned that the 2022–2025 bull cycle may be drawing to a close, with major catalysts like Trump's 2024 election and Bitcoin treasury launches no longer driving demand. Yet, some analysts remain cautiously optimistic, noting that post-halving cycles historically feature sharp corrections before final rallies, and that long-term holders continue to accumulate despite ETF outflows according to 247 Wall Street.

As the market approaches Thanksgiving, the focus will likely shift to the December Fed meeting and potential shifts in institutional positioning. For now, Bitcoin's fate hinges on whether stabilizing accumulation by mid-sized holders and ETF inflows can offset the lingering effects of a bearish macro environment.