$BTC rebounds somewhat after Fed rate reduction sell-off

Bitcoin climbs to $102,000 on Thursday after falling 5.5% owing to the Fed's aggressive rate-cut

Recently, whales, businesses, and institutional investors purchased BTC declines.

The Bitcoin NPL indicator suggests profit-taking, so traders should be careful.

Bitcoin climbs to $102,000 on Thursday after falling 5.5% the day before. Whales, businesses, and institutional investors bought more BTC during recent falls. Bitcoin's Network Realized Profit/Loss (NPL) measure suggests profit-taking, therefore traders should be careful.

Whales, businesses, and institutional investors purchase Bitcoin below $100K.

Bitcoin climbs to $102,000 on Thursday after falling 5.5% the day before.

The Fed's aggressive rate-cut decision at Wednesday's FOMC meeting spurred Bitcoin's recent drop. As predicted, the Fed decreased the federal funds rate to 4.25% to 4.50% but projected a slowing in rate decreases in 2025, lowering riskier assets like Bitcoin.

Whales and corporations bought more Bitcoin despite its recent drop below $100K. Lookonchain data shows Marathon Digital (MARA) added 1,627 BTC worth $166 million on Wednesday. After the price drop, three whale wallets acquired 1,153 BTC worth $120 million.

Hut 8 Corp (HUT), an energy infrastructure and Bitcoin miner, bought 990 BTC worth $100 million at $101,710 each on Wednesday. Hut 8 now possesses 10,096 BTC worth over $1 billion in its strategic Bitcoin reserve, including the Bitcoin held before this transaction.

Institutional demand is high. On Wednesday, Coinglass reported $272.30 million in Bitcoin spot Exchange Traded Funds (ETF) inflows, extending its run from November 27. The influx pattern would buffer Bitcoin price decreases if it continues or escalates.

Bitcoin Price Forecast: BTC rebounds at $100K support.
Bitcoin fell 5.5% on Wednesday, hitting $100,000 and finishing close over $100,200. BTC fell below $100k in the early Asian session on Thursday but recovered to $102,000 in the European session.

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