Bitcoin price today trades near $92,530, sitting at the apex of a tightening symmetrical triangle on the daily chart. The market is struggling to break the descending trendline that has capped recovery attempts since mid-October, while spot and ETF outflows continue to pressure sentiment.
Bitcoin price today trades near $92,530, sitting at the apex of a tightening symmetrical triangle on the daily chart. The market is struggling to break the descending trendline that has capped recovery attempts since mid-October, while spot and ETF outflows continue to pressure sentiment.
Data from SoSoValue confirms $77.34M in net outflows on December 11 across U.S. Bitcoin spot ETFs. Fidelity’s FBTC alone recorded $103.55M in redemptions, while Grayscale saw withdrawals of $12.21M and $10.97M across GBTC and BTC ETF products.
BlackRock’s IBIT offset part of the pressure with a $76.71M inflow, but the broader trend still reflects net selling rather than accumulation. Cumulative ETF inflows remain positive at $57.85B, yet short-term behavior has shifted to defensive positioning.
This aligns with spot data. Coinglass shows a $76.27M net outflow on December 12, marking another day where liquidity moved away from holding wallets and into exchanges. Persistent red bars across weekly flow readings highlight caution, and the inflow spikes from earlier in the year have not returned.
Bitcoin continues to trade below the descending trendline that began after the failure near $117,500. The supertrend remains bearish at $98,103, and EMAs on the daily chart reinforce the ceiling overhead. BTC is still under the 20-day EMA at $96,478, the 50-day EMA at $91,770, the 100-day EMA at $101,791, and the 200-day EMA at $103,499.
The lower structure is forming higher lows, with the rising triangle support holding near $91,000. Price is now sandwiched between this rising support and the descending resistance, forming a compression that will soon resolve.
A breakout above $95,500 clears the descending trendline and opens the door toward the EMA cluster. A breakdown below $91,000 exposes the lower liquidity pocket near $88,500, with deeper downside toward $85,000.
At this stage, neither side has dominance. The next move will likely be sudden as volatility compresses.
The 30-minute chart shows a mild recovery attempt after the Wednesday pullback. BTC reclaimed $92,500, but price is moving sideways with weak volume behind it. RSI sits near 58, showing mild momentum, while MACD remains above the signal line but is flattening.
Buyers are holding the short-term floor around $92,000, but the push lacks trend strength. Every intraday bounce shows reduced amplitude, a sign that short-term traders are waiting rather than positioning aggressively.
A break above $93,200 on the lower timeframe would show early strength, but without ETF or spot inflow confirmation, the move may remain limited.
If Bitcoin reclaims $95,500 with volume, buyers regain control. Losing $91,000 confirms a bearish continuation as the symmetrical triangle resolves downward.
