Bitcoin Price Prediction: BlackRock Selling Challenges Bullish Sentiment

Bitcoin price today trades near $107,700, under pressure after repeated selling from institutional desks. The move has shifted attention back to the $104,000–$105,000 support band as the market braces for the Fed decision.

BTC Price Action Struggles Below Key EMAs

The BTC price action shows a clear rejection from the 20- and 50-day exponential moving averages clustered around $112,500–$113,800. Price has slipped below the dotted ascending trendline and is retesting the broader demand zone at $107,000–$105,000.

The 200-day EMA at $108,000 has also turned into a ceiling after a failed bounce. The relative strength index (RSI) sits near 39, confirming weak momentum and leaving downside risk if buyers cannot hold this zone.

This technical context keeps the Bitcoin price prediction tilted toward retesting the October lows unless bulls reclaim the $112,000 threshold.

BlackRock Selling Adds To Pressure

News flow turned sharply negative as reports surfaced of BlackRock selling Bitcoin ahead of the Fed’s meeting. Transaction data shows the firm unloading blocks of 300 BTC at regular intervals, creating additional drag on market sentiment.

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Such activity has sparked debate about whether the selling is linked to rebalancing, liquidity needs, or an attempt to pressure leveraged positions. Traders argue that this explains why the Bitcoin price today could not sustain above $110,000 despite brief relief rallies.

For investors, the sales highlight why Bitcoin price volatility remains elevated in the run-up to key macro events.

Exchange Outflows Fail To Offset Selling

BTC Netflows (Source: Coinglass)

On-chain flows provide another piece of the puzzle. The BTC spot inflow/outflow chart shows more than $200 million in net outflows on October 21, with total exchange flows remaining negative across the past month.

Normally, sustained outflows are read as accumulation, but the persistence of institutional selling has overshadowed these signals. This divergence suggests that while some investors are moving coins off exchanges, the order book impact from large liquidations is dictating short-term moves.

The Bitcoin price update reflects this tug of war, with spot levels locked between heavy sell pressure and a resilient but weakening support base.

Technical Outlook: Upside And Downside Scenarios

For the near term, $104,000–$105,000 stands as the must-hold zone. A decisive break lower would expose $100,000 and then the deeper support at $92,000, last tested in early spring. RSI momentum near oversold readings warns of potential exhaustion, but until buyers retake $112,000, the path of least resistance leans lower.

On the upside, a clean reclaim of $113,800 would neutralize the bearish setup and open a path back toward $120,000. The cluster of EMAs above remains the primary barrier that bulls need to conquer for any bullish Bitcoin price prediction to hold weight.

Outlook: Will Bitcoin Go Up?

For now, the Bitcoin price update points to a fragile equilibrium. Bears hold the short-term edge as institutional selling and macro uncertainty dominate the narrative. Bulls still have a chance if $104,000 support continues to hold and inflows reappear after the Fed event.

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A rebound above $113,800 could reset momentum and spark a broader recovery, but failure to defend current levels would likely bring another leg down toward $100,000 before buyers step in with conviction.