Institutions Accumulate Bitcoin Despite Dip; Bullish Sentiment Persists

Bitcoin has been trading between $95k and $98k over the past week, with a current price of $95,936, marking a 2.55% daily decline and a 1.56% weekly decline. Despite the bearish outlook, investors, particularly institutions, have been taking advantage of the dip to accumulate Bitcoin.

Popular crypto analyst Ali Martinez has suggested a rising institutional demand for Bitcoin, citing the Coinbase Premium Index. The index has remained positive over the past week, indicating stronger buying pressure on Coinbase than on Binance, implying that U.S. investors are dominating the market. Institutions have been accumulating Bitcoin at lower rates during the current price stagnation, reflecting bullish sentiments and anticipation of a near-term price rebound.

Institutional demand for BTC has been rising, as evidenced by a reduction in selling pressure from miners and an increase in the exchange stablecoins ratio. Additionally, dormant coins, especially total unspent, have experienced a steady rise, while Coinbase's unspent coins have remained the same. This suggests that large and long-term holders are not selling BTC, either through Coinbase or other exchanges.

Bitcoin's high demand from institutions is reflected in reduced selling pressure and higher buying activity. With institutions buying without selling, it indicates strong bullish sentiments and a trend towards accumulation. The current market conditions position BTC for more gains on its price charts, with the potential to break out of $98,405 and attempt $100K. However, the presence of short-term holders (STH) sellers in the market could lead to a pullback, with the crypto potentially retracing to $95,031.