Bitcoin News Today: Whales Double Holdings, Stabilizing Bitcoin Above $105K Amid $1.7B ETF Outflows

Bitcoin's price has stabilized above $105,000, with analysts closely monitoring a falling wedge pattern on the 4-hour chart that could propel the cryptocurrency toward $120,000 if a breakout occurs. The recent rebound follows a late-October selloff, with support firmly established near $102,500 and the 50-day moving average acting as a secondary safety net around $103,000 according to analysis. Technical indicators suggest a balanced RSI reading in the mid-50s, leaving room for further upside without entering overbought territory. A sustained close above $106,000 could reignite momentum toward $110,000, with a potential continuation pattern targeting $118,000–$120,000 if the $112,000 threshold is breached according to analysis.

Whale activity has also played a critical role in stabilizing Bitcoin's price. Despite a $1.7 billion outflow from Bitcoin and ETH ETFs, large holders-defined as those controlling over 10,000 BTC-have more than doubled their holdings, adding over 36,000 BTC in recent weeks. This accumulation by high-net-worth entities has helped anchor Bitcoin above $100,000, creating a structurally bullish foundation amid ETF-driven turbulence according to analysis. Meanwhile, mid-sized investors reduced their purchases significantly, exacerbating the outflows but not derailing the broader support structure according to analysis.

The U.S. government shutdown's resolution has further bolstered risk-on sentiment, with Bitcoin's move higher occurring despite a modest rise in Treasury yields and a stronger dollar. Historically, Bitcoin has shown resilience during periods of fiscal easing, and analysts note that the current macroeconomic environment-where inflation expectations remain sticky but fiscal concerns ease-mirrors past setups for strong rallies according to analysis. Correlation metrics also highlight a gradual decoupling between Bitcoin and the NASDAQ 100, with the 30-day correlation dropping from 0.73 to 0.64, signaling Bitcoin's increasing independence as an asset class according to data.

On-chain data reinforces the optimism. Hash rate levels continue to climb, reflecting robust network security and miner profitability, while exchange liquidity has deepened as market makers return. The BTC/USD spread has narrowed to $6–8 from $12–15 during the height of shutdown-related volatility, and derivatives markets show declining funding rates, indicating reduced speculative leverage-a positive sign for sustainable price action according to analysis. Institutional demand is also evident, with spot trading volume up 12% from the previous week's average and perpetual futures markets displaying improved hedging flows according to analysis.

However, risks remain. If Bitcoin fails to hold above $100,353-the 50% Fibonacci retracement level-it could face renewed downward pressure. The RSI and MACD indicators currently suggest fading bearish momentum, but a sustained recovery depends on the RSI crossing above the neutral 50 level and the MACD lines converging further according to analysis. Analysts caution that prolonged ETF outflows could extend the correction, though the current technical and on-chain fundamentals favor a bullish resolution according to analysis.

The broader macroeconomic landscape also supports Bitcoin's trajectory. A stronger-than-expected jobs report or inflation data could reinforce expectations of a Fed pause through early 2026, indirectly benefiting risk assets. Meanwhile, Bitcoin's decoupling from the global M2 money supply-a metric historically tied to liquidity trends-suggests the cryptocurrency is beginning to lead macro cycles rather than merely reacting to them according to analysis. This divergence is attributed to growing institutional participation via ETFs and other vehicles, which have driven consistent inflows into the crypto market according to analysis.

As the cryptocurrency market braces for potential volatility ahead of key economic data releases, Bitcoin's technical setup and macroeconomic backdrop present a compelling case for a breakout. With whales accumulating and institutional demand stabilizing, the stage is set for a test of critical resistance levels in the coming weeks.