After holding above $90,000, is the next step to push to $108,000? Institutions are flowing out, but why is the price still so strong?

Bitcoin demonstrates rare resilience amid high-level consolidation. As of January 8, the BTC trading price is approximately $90,913, up slightly by 0.24% intraday, holding firmly above the key psychological level of $90,000. Even more noteworthy is that this stability is achieved against the backdrop of significant institutional fund pressure—recently, Bitcoin-related ETF products experienced a net outflow of about $380 million, yet prices did not decline in tandem; instead, they maintained sideways consolidation. This dislocation signals market absorption of selling pressure.

Why are institutions withdrawing funds while Bitcoin remains stable?

On the surface, a net ETF outflow of $380 million might be bearish. But the reality is more complex.

According to the latest news, BlackRock has withdrawn a total of 7,146 BTC worth approximately $6.6838 billion from exchanges over the past two days. Such large-scale “active withdrawal” behavior by institutions usually indicates accumulation on dips—not selling on exchanges, but transferring into self-custody wallets. Meanwhile, MicroStrategy, despite rising financing costs to 10-12.5%, continues to buy Bitcoin, spending about $116 million in early January to acquire 1,287 BTC.

What does this imply? Large institutional fund flows are never entirely uniform. Some funds may be short-term risk-averse, but leading institutions are accumulating on dips. This delicate balance is key to maintaining the $90,000 price level.

Subtle Changes in On-Chain Data and Fundamentals

From the mining perspective, Bitcoin’s mining difficulty was reduced by 1.20% on January 8, to 146.47T. This indicates lower mining costs and increased incentives for miners. Historical experience suggests that difficulty adjustments often occur at market bottoms, serving as a contrarian indicator.

In terms of market size, Bitcoin’s total market cap is about $1.82 trillion, with a market share of 58.39%, and 24-hour trading volume approaching $41.6 billion. This scale and liquidity are sufficient to absorb short-term capital fluctuations.

Technical signals revealing the real picture

The technical formations mentioned in the news warrant attention. The daily chart shows Bitcoin forming a classic symmetrical triangle pattern:

Symmetrical triangles are usually not trend-ending but indicate a period of low volatility buildup after contraction. This suggests that significant volatility is brewing, not trend reversal.

From technical indicators:

• Rising lows indicate buyers are stepping in early during dips
• 50-day moving average is flattening and attempting to turn upward
• RSI has retreated to healthy levels without bearish divergence
• Recent candlesticks are mostly doji and spinning tops, reflecting market hesitation rather than distribution

All these signals point in the same direction: the market is compressing, building momentum for a substantial move.

Two key price targets

Upside potential

If the daily chart confirms a firm breakout above the $94,000–$97,300 zone, the price could quickly test $107,000, further challenging the $105,000–$108,000 region. According to the analysis, $108,000 is a significant target.

From a fundamental perspective, this outlook is supported by recent insights. Gemini’s institutional business director states that the four-year Bitcoin cycle has ended, with market maturity increasing and volatility decreasing significantly. 21Shares strategists note that geopolitical tensions are driving investors toward Bitcoin as a “neutral” store of value. These factors reinforce the rationale for an upward move.

Downside risks

Conversely, if the price falls below $90,000, caution is warranted for potential retracement to $86,900 or even structural support at $80,500. However, based on current technical and fund flow conditions, this risk is not the primary concern at the moment.

Personal observations

Bitcoin currently appears to be preparing for the next rally rather than a trend reversal. This sideways consolidation may be a prelude to a new wave of volatility. Historically, prices tend to choose direction when patience runs thin. The key is to wait for a confirmed breakout above the $94,000–$97,300 zone.

Summary

Bitcoin’s resilience around the $90,000 level is no coincidence but a result of multiple factors: institutional accumulation on dips, mining difficulty adjustments, increased market maturity, etc. The symmetrical triangle pattern in technical analysis suggests a significant move ahead rather than a trend reversal. If the price holds above the $94,000–$97,300 zone, targets of $108,000 or higher are plausible. Of course, the market’s ultimate direction depends on whether this zone is broken and the subsequent capital follow-through. For investors watching Bitcoin’s price action, this consolidation phase may be the best time to observe and prepare.