Bitcoin Slips Below $113K Briefly as ETF Outflows and Weak Technicals Weigh on Market
The Bitcoin price fell under $113,000 in the past 24 hours, pressured by heavy institutional outflows and weakening technical momentum.
Data from Farside Investors revealed that U.S. spot Bitcoin ETFs saw $523.3 million in outflows, the largest single-day withdrawal in weeks. The retreat points to a wave of profit-taking among institutional players and amplifies bearish sentiment across the broader crypto market.
Bitcoin ETF Outflows Add to Selling Pressure
The mass exit from spot Bitcoin ETFs is being read as a signal of waning short-term confidence among big-money investors.
Outflows of this scale tend to weigh heavily on liquidity, often spilling into spot prices. The move comes after weeks of strong inflows and suggests a recalibration of positions as traders reassess risk in a volatile environment.
US spot Bitcoin flows (Source: Farside Investors)
Technical and Momentum Signals
From a technical perspective, Bitcoin’s daily chart reflects fading bullish control. The 9-day EMA has slipped under recent price levels, pointing to weakening short-term demand, while the 20-day EMA remains flat, indicating the broader trend is still neutral but vulnerable.
Daily chart for WBTC/USD (Source: GeckoTerminal)
Momentum oscillators echo this indecision. The RSI has rebounded slightly from oversold territory but remains near the midline, showing neither buyers nor sellers have firm control. The MACD histogram has started to stabilize after steep declines, hinting that bearish momentum is cooling but not fully exhausted.
Support remains fragile around $112,546, with a break below this mark likely to invite steeper declines toward $105,681 and $103,985. On the flip side, bulls must reclaim $119,841–119,954 to regain momentum. If cleared, the next meaningful upside target sits at $123,306.
Order Book Analysis
Exchange order books highlight the near-term battleground. A large bid wall at $113,512 with 11 BTC (~$1.22M) is providing support, but its breach could expose the market to quick slippage toward $113,268 and beyond.
On the other side, ask walls between $113,529–113,595 (~$360K each) are capping upside moves. Clearing these layers may give Bitcoin a slight bounce, but without a shift in institutional flows, rallies are likely to remain capped below $120K.
Bitcoin Trading Outlook
The combination of sharp ETF outflows and softening technicals leaves Bitcoin in a precarious position. For traders:
- Long strategies may find opportunity on rebounds near $112,500, aiming for a recovery toward $119,800–120,000. Stops should be kept tight just below support.
- Short strategies may be more favorable at retests of the $119,800–120,000 zone, with downside targets back toward $113,000 and deeper if ETF outflows persist.
With institutional capital exiting and retail momentum weakening, Bitcoin’s next move will likely hinge on whether it can hold the $112,500 floor or face an extended selloff.
Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.
