- Bitcoin trades near $111,500, rebounding after a flash crash with $110K and 200-day EMA acting as key support.
- On-chain data shows $180M inflows as an EU sovereign wealth fund makes its first Bitcoin purchase.
- Analysts see recovery potential if BTC clears $116K–$117K, opening path toward $120K–$125K.
Bitcoin price today is trading near $111,500, recovering modestly after one of its sharpest two-day declines this quarter. The rebound comes as buyers defend the $110,000 region, supported by the 200-day EMA near $107,900, while institutional inflows hint at renewed accumulation following the panic-led selloff.
Bitcoin Price Finds Support At Trendline Base
The daily chart shows Bitcoin bouncing from a confluence of technical supports around $110,000. The zone includes the ascending trendline drawn from July lows, the 200-day EMA at $107,905, and a horizontal base that has repeatedly acted as a launchpad for previous rallies.
Short-term resistance has emerged at $113,500, where the 100-day EMA aligns with the midline of the previous rising channel. Above this, the 20-day EMA at $116,790 and the 50-day EMA at $115,565 form a dense cluster of resistance that could determine whether bulls regain momentum.
The RSI currently sits at 40.7, recovering from oversold territory after last week’s flash crash. Momentum has started to stabilize, suggesting that selling exhaustion may be setting in. A clear push above $113,500 could confirm the start of a technical rebound toward the $116,800–$120,000 range.
On-Chain Data Points To Institutional Dip-Buying
After two days of nearly $1.6 billion in outflows, on-chain data recorded a sharp $180.6 million inflow on October 12, marking a potential shift in sentiment. This spike in inflows coincided with Bitcoin stabilizing above $111,000, indicating that institutional and ETF-linked buyers are stepping back in to absorb supply.
The change in flows follows a report from Bitwise ETF revealing that an EU sovereign wealth fund made its first-ever Bitcoin purchase, signaling renewed global confidence in digital assets. Analysts view this as a pivotal moment, with traditional finance institutions beginning to “stack the dip” amid market weakness.
Despite the short-term volatility, Bitcoin’s long-term fundamentals appear intact. Futures open interest has normalized after last week’s liquidation-driven drop, and funding rates have reset to neutral levels, creating healthier conditions for a sustainable rebound.
Saylor’s $180K Call Highlights Volatility Narrative
Adding to market debate, MicroStrategy chairman Michael Saylor reiterated his bullish long-term stance on CNBC, saying, “Bitcoin will surge to $180,000, crash to $140,000, and people will freak out again.” The comment reflects both confidence in Bitcoin’s multi-cycle growth and acknowledgment of its recurring volatility phases.
Saylor’s firm recently expanded its holdings with another 15,400 BTC purchase at an average price of $96,000, reinforcing institutional conviction even amid short-term turbulence. Analysts suggest such high-profile accumulation reinforces market support levels near $100,000 and strengthens Bitcoin’s macro uptrend narrative.
Technical Picture Suggests Mid-Cycle Reset
The broader structure shows Bitcoin retesting its multi-month trendline while remaining within its larger ascending channel. The 200-day EMA near $107,900 acts as the primary defense zone, while any move below it could trigger deeper losses toward $105,000. Conversely, a daily close above the 50-day EMA at $115,565 would signal recovery and attract momentum buyers targeting $120,000 and $125,000.
The market’s current equilibrium suggests consolidation before the next breakout. With the RSI gradually recovering and on-chain inflows turning positive, buyers appear to be regaining control after a capitulation event.
Technical Outlook For Bitcoin Price
| Indicator/Level | Current Reading | Implication |
| Spot Price | $111,500 | Attempting rebound |
| RSI (14) | 40.74 | Recovering from oversold |
| Key Support | $110,000 / $107,900 | Trendline and 200 EMA |
| Resistance | $113,500 / $116,800 / $120,000 | EMA and channel ceilings |
| 20/50 EMA Cluster | $116,790 / $115,565 | Major breakout barrier |
| Outlook Bias | Neutral to bullish | Rebound likely if above $113,500 |
Outlook: Will Bitcoin Go Up?
Bitcoin’s short-term trajectory depends on whether buyers can reclaim the EMA cluster between $115,000 and $117,000. The return of institutional inflows and the sovereign wealth fund’s first entry signal improving confidence, while the RSI recovery supports a potential rebound phase.
Analysts remain cautiously optimistic as long as Bitcoin holds above the $107,900 support floor. A confirmed breakout above $116,800 could reopen the path toward $120,000–$125,000, while failure to sustain $110,000 may reexpose $105,000 as the next downside target.
For now, Bitcoin appears to be undergoing a healthy mid-cycle reset — with global capital quietly buying the dip as the broader uptrend remains intact.
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