Bitcoin price is trading around $80,500 while companies keep accumulating BTC, even though fading technical momentum and recent spot ETF outflows are making a sustained recovery difficult.
Strive’s newest purchase boosts its corporate Bitcoin stash, yet BTC needs to break back above key resistance levels before buyers can build stronger upward momentum.
As of press time, Bitcoin is changing hands at $80,514.14, a gain of 0.45% on the displayed daily candle, based on the TradingView chart provided.
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Why Is Bitcoin Price Under Pressure?
Bitcoin price is still below several significant technical levels after pulling back from its October highs. The TradingView chart indicates BTC near $80,514, under the middle Bollinger Band at $82,093.24 and the marked resistance of $83,372.37.
The Relative Strength Index (RSI) reads 43.44, beneath its average of 47.71. Both figures support a weakening momentum outlook, though the RSI is still above the traditional oversold level of 30.
How Does Strive’s Bitcoin Buy Affect Sentiment?
Per Lookonchain, Strategy made no additional Bitcoin purchases last week, whereas Strive bought 6,182 BTC for about $511.4 million at an average price of $82,732. The post notes that Strive’s total holdings now stand at 43,000 BTC, worth roughly $3.496 billion.
Lookonchain reported that Strive “bought 6,182 $BTC ($511.4M) at an average price of $82,732.” The purchase underscores steady corporate appetite for Bitcoin despite the recent price slump. Even so, a single company’s buy does not ensure an immediate rebound, especially while ETF flows and technical indicators remain mixed.
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What Do Bitcoin ETF Flows Show?
According to the data from SoSoValue screenshot reveals that US spot Bitcoin ETFs posted $137.94 million in net outflows on October 23. This came after a considerably larger outflow of $635.49 million on October 22, whereas October 21 and October 19 saw inflows of $528.40 million and $526.60 million, respectively.
These numbers indicate that spot ETF demand has fluctuated rather than moved consistently in one direction. Further outflows could dampen sentiment if they continue, whereas a return to steady inflows would offer a more supportive backdrop.
Can Bitcoin Price Reclaim $82,000?
Bitcoin’s first technical hurdle is the middle Bollinger Band, located at $82,093.24. A sustained break above this level could pave the way toward the marked resistance at $83,372.37, followed by the upper Bollinger Band at $84,163.11.
On the downside, the lower Bollinger Band at $80,023.37 provides nearby technical support. A sustained break below this level could weaken the near-term outlook and expose the next marked support near $77,747.76.
These levels offer traders reference points for assessing whether Bitcoin’s current consolidation develops into a recovery or another leg lower.
Also Read: Bitcoin Price Outlook: Strive’s BTC Accumulation Could Accelerate Momentum
What Does Bitcoin Open Interest Reveal?
CoinGlass data shows Bitcoin open interest declining from its late-September highs toward approximately $53 billion by late October. The liquidation chart also shows several large liquidation events during the period, including a prominent spike in August.
The decline in open interest suggests that positions have been reduced, but it does not reveal whether the remaining market participants are predominantly bullish or bearish. Combined with the RSI below 50 and Bitcoin trading beneath its middle Bollinger Band, the data points to weaker momentum rather than confirming a reversal.
What Is the Bitcoin Price Outlook?
Bitcoin’s near-term outlook depends on whether buyers can defend the area around $80,023 and push the price back above $82,093. A move through $83,372 would strengthen the recovery case, while a break below nearby support could bring $77,747 into focus.
Strive’s latest acquisition demonstrates continued corporate Bitcoin buying, but recent ETF outflows show that demand across investment products has been uneven. Corporate accumulation alone may not be enough to drive a sustained recovery without improving price momentum and more consistent ETF inflows.
Cryptocurrency markets remain highly volatile, and traders should monitor price action, market sentiment, and upcoming catalysts before making investment decisions.
Also Read: Bitcoin Price at Crossroads: $84.2K Breakout or $80K Drop?
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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