- Bitcoin’s Stochastic RSI is oversold, historically preceding reversals. A breakout above $110K or below $90K could set the trend.
- Whales moved over 60K BTC in a week, with large holder wallets declining, indicating potential distribution and market uncertainty.
- Bitcoin ETFs saw a $186M net outflow, with Grayscale reducing holdings while BlackRock recorded inflows, showing mixed investor sentiment.
Bitcoin remains in focus as analyst Crypto Rover says its oversold, suggesting a potential rebound in Q1. BTC is consolidating within the $90,000 to $110,000 range. Meanwhile, whale activity and ETF flows indicate mixed market sentiment. At press time on February 11, BTC was trading at $98,103.75, up 0.25% in the past 24 hours.
BTC Consolidates and Oversold Stoch RSI Levels
Bitcoin’s long term uptrend continues, moving from $30,000 in mid 2023 to $100,000 in early 2025. According to Crypto Rover, BTC’s current position resembles early 2024, when a similar consolidation preceded a strong rally.
BTC previously consolidated between $30,000 and $40,000 before resuming its climb. Now, it moves sideways between $90,000 and $110,000, suggesting another accumulation phase.
The Stochastic RSI is at an oversold level in which historically preceded reversals. If demand increases, BTC could reclaim momentum and push toward resistance. However, a break below $90,000 could lead to extended consolidation.
Whales Move Over 60,000 BTC
According to analyst Ali, large holders moved over 60,000 BTC in the past week. Whale wallets holding 1,000 to 10,000 BTC have declined to 4.5 million BTC, suggesting potential distribution. Since mid December 2024, BTC’s price has traded between $92,000 and $106,000, with notable volatility spikes on January 22 and February 1.
A decline in whale holdings suggests reduced institutional accumulation, potentially limiting BTC’s upside in the near term. If large holders resume buying, BTC could strengthen above $100,000. However, continued selling pressure may lead to BTC testing $92,000 again.
ETF Flows, Grayscale Sees Outflows
Lookonchain data from February 10 reported that Bitcoin spot ETFs had a net outflow of $186 million. Grayscale’s GBTC saw outflows of 444 BTC, bringing its holdings to 200,794 BTC, valued at $19.55 billion. Meanwhile, BlackRock’s IBIT recorded a net inflow of $55.36 million, suggesting investor interest despite broader ETF outflows.
Additionally, Whale Alert reported a transfer of 1,176 BTC, worth approximately $114.84 million, from Kraken to an unknown wallet. Such large transfers often impact market liquidity and volatility.
Bitcoin’s short term movement depends on whether whale accumulation returns and how ETF investors respond to current market trends. BTC remains volatile, with the market monitoring key support and resistance levels for potential breakout signals.
