• Bitcoin extends its recovery, trading above $66,500 on Tuesday, marking four consecutive days of green candlesticks.
• US-listed ETF recorded a mild outflow of $64.08 million on Monday, while Strategy added 1,587 BTC to its reserves.
• Report highlights that BTC is staging a tentative relief bounce from deeply oversold conditions, suggesting stabilization rather than a trend reversal.

Bitcoin (BTC) extends its recovery, trading above $66,500 as of Tuesday, marking four consecutive daily gains since the weekend. Institutional selling continues as spot Exchange Traded Funds (ETFs) recorded a mild outflow on Monday; however, the pace of withdrawals has slowed compared with recent weeks. Traders should remain cautious, as Glassnode reported that BTC’s rebound suggests stabilization rather than a trend reversal.

Institutional selling may be easing

Institutional demand began the week on a weak note. SoSoValue data showed that spot Bitcoin ETFs recorded outflows of $64.09 million on Monday. While the flows remained negative, the pace of selling was lower than the heavy outflows seen in recent weeks, suggesting that selling pressure may be easing. However, traders should be cautious, as a sustained recovery in BTC would require these flows to turn positive and strengthen in the coming days.

On the corporate front, Michael Saylor announced on Monday that his firm Strategy has acquired 1,587 BTC, bringing the total holding to 846,842 BTC. In addition, the firm also increased its USD Reserve by $100 million to $1.1 billion. This highlights the company’s continued conviction in Bitcoin and aggressive accumulation despite the recent BTC price correction. 

BTC hints at stabilization rather than a trend reversal

Glassnode reported on Monday that the Crypto King is staging a tentative relief bounce from deeply oversold conditions. Meanwhile, on-chain and derivatives data suggest stabilization rather than a trend reversal.

“The recovery is happening on thin ice,” the report noted.

According to Glassnode, spot trading volume has fallen 40.4% to $5.8 billion. In comparison, futures open interest declined another 3% to $30.65 billion, indicating that the recent rebound is largely being driven by short covering rather than fresh buying. Long-side funding payments dropped 22.3%, and spot ETF trading volume fell 38.1% to $11.1 billion, highlighting subdued institutional participation.

“The market is lighter, not healthier,” Glassnode’s analyst added.

The report concluded that the lack of strong spot demand, shrinking derivatives activity, and continued capital outflows suggest BTC is building a consolidation base rather than confirming a trend reversal.

Bitcoin Price Forecast: Extends rebound

Bitcoin trades at $66,600 on Tuesday, extending its recovery since the weekend. However, BTC maintains a bearish bias as price remains well below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs) and the previously broken ascending trendline. 

Momentum is mixed, with the Relative Strength Index (RSI) on the daily chart hovering near 45 and the Moving Average Convergence Divergence (MACD) positive and above the zero line, hinting that downside pressure is easing but not yet strong enough to overcome the dominant overhead supply.

On the topside, initial resistance is seen at the 50-day EMA near $70,566, followed by the 100-day EMA at $73,246 and the prior rising trendline break zone around $73,641. Beyond that, the 200-day EMA at $79,081 becomes a key medium-term barrier before the stronger horizontal resistance at $84,410.

On the downside, the first notable support emerges at the horizontal level near $64,004; a sustained break below this floor would open the door to a deeper corrective phase, while holding above it would keep BTC in a broad consolidation beneath the cluster of daily EMAs.

(The technical analysis of this story was written with the help of an AI tool.)