Despite record Bitcoin prices, some traders are looking for buying opportunities during pullbacks, with key entry points targeted at around $83,000.BTC accumulation continues among whales and institutional investors, especially through spot Bitcoin ETFs
Bitcoin closed out the week near $90,000, posting its highest weekly close in history with monthly gains of 32%. Traders and analysts are now keen on BTC’s next move. Here are five critical insights for BTC holders as the market moves forward at a pivotal moment.
Bitcoin ATH Prompts Volatility Alerts
Bitcoin rose to $93,500 on Nov 13 but retreated afterward, and traders held on in anticipation of any sign of potential turbulence ahead. Skew, a crypto trader on X, said Bitcoin price “held the 21-period EMA on four-hour timeframes” with the points to be closely watched at $90,000 and $91,300.
Another commentator, CrypNuevo, called for a spike toward $95,000–$96,000 this week. He also cautioned that the large traders will look to take down the naive new entrants as Bitcoin approaches the psychologically important $100,000 level. “It’d also make sense to spike up near $100k without fully reaching there, and then reverse down,” CrypNuevo theorized. Interestingly, as per the CNF report, some market analysts are also calling for a BTC price rally to $135K.
Record-setting prices aside, some traders remain sanguine about entry points during pullbacks. Crypto Chase revealed its strategy, stating that it would buy intraday “gaps” between daily candle wicks in a bullish condition. “We will EVENTUALLY pullback into a Daily gap,” he said. Moreover, he added that his target for additional entries lies around $83,000.
Bitcoin Whales & ETFs Drive Accumulation
On-chain data reveals that BTC keeps on accumulating among whales and institutional investors despite less impressive flows through spot Bitcoin ETFs. Spot Bitcoin ETF holdings have grown by 425,000 BTC since January, which is about 5.33% of the total circulating supply, reported CNF.
“As more Bitcoin is accumulated through spot ETFs, we can expect the price to continue its upward trend”, says CryptoQuant contributor MAC_D. However, ETF activity last week was volatile, with net outflows of more than $750 million in the two days.
Sentiment Indicators Send Cautionary Signals
Crypto sentiment tools are starting to heat up. According to Blockchain analytics firm Santiment social media activity around Bitcoin spikes during major price moves. “The hype across social media platforms is calling the tops very reliably,” the firm noted, pointing to increasing mentions of $100,000 price targets. The Crypto Fear & Greed Index showed the same trend hit 90/100 on November 17. This level is mostly associated with “extreme greed” and past market reversals.
Macroeconomic Uncertainty Remains
Bitcoin’s explosion as the macroeconomic environment continues to destabilize further. Picking up in October inflation, some commentators warn of stagflation, a rising price environment accompanied by high unemployment. Meanwhile, monetary policymakers expect more cuts by the Federal Reserve.
However, others think that the pivot is being delayed for now as competing data is giving officials conflicting signals. With Bitcoin still trading at around $90,000, the market remains still on its next move. Several traders are gearing up for increased volatility as some anticipate a continuation toward $100,000 while others are cashing in on its retracements.
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