Analysts Warn Of Deeper Pullback as BlackRock Sells $2B BTC

• Bitcoin trades near $110,100 after BlackRock reportedly sold 18,000 BTC worth $2B.
• Fed’s 25bps rate cut disappoints as Powell’s tone cools risk appetite across crypto.
• Analysts warn of deeper pullback if $109K support fails, targeting $106K.

Bitcoin price today trades near $110,100, slipping after reports that BlackRock sold roughly 18,000 BTC worth $2 billion following President Trump’s new trade deal with China. The sale coincided with fresh weakness across the crypto market as traders reacted to the Federal Reserve’s smaller-than-expected 25bps rate cut and Powell’s less dovish tone.

The move comes as institutional activity turns cautious. Spot exchange data from Coinglass shows $59.7 million in net outflows on October 30, continuing a two-week stretch of declining liquidity. Analysts say this mix of profit-taking and macro uncertainty has set the stage for another test of key technical support near $109,000.

BTC Tests Triangle Support As Momentum Cools

On the 4-hour chart, Bitcoin remains trapped inside a large symmetrical triangle pattern stretching from mid-October. The structure’s lower bound sits around $109,000, while resistance aligns with $113,000–$114,000, near the 100-EMA. The 20-, 50-, and 100-EMAs cluster tightly between $111,900 and $112,200, forming a congestion zone that continues to reject upside attempts.

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A clean break below $109,000 would likely trigger a move toward $106,800, a level that also coincides with the lower trendline from early October. A breakout above $114,000 would be the first signal of renewed strength, opening room toward $117,500. For now, price action suggests a bias toward consolidation with a downside tilt.

The RSI near 38 highlights fading momentum and soft demand, consistent with traders taking profits into macro uncertainty. Momentum remains neutral to bearish unless the index climbs back above the 50 mark.

Fed Cut Sparks Volatility Instead Of Relief

The Federal Reserve’s 25bps rate cut failed to lift sentiment as markets had priced in a more aggressive stance. Maja Vujinovic, CEO of FG Nexus, said the reaction was unsurprising. “The reduction was expected, that seemed very clear to me. Many people in my crypto discussions were anticipating a small bounce, but the market continues to fall,” she noted, adding that Powell’s remarks lacked the clarity traders sought on future policy moves.

The muted reaction underscores how liquidity expectations, not rate levels alone, drive Bitcoin’s short-term direction. With Powell hinting at no further immediate cuts, risk assets have struggled to attract sustained bids. 

BlackRock Selling Adds Pressure To Institutional Sentiment

A viral post from market commentator @CryptoNobler revealed that BlackRock wallets offloaded 18,000 BTC over recent sessions. The transactions, tracked across multiple hours, represent one of the largest institutional disposals since midyear. The timing, just after Trump’s China trade agreement, raised speculation about capital reallocation toward traditional assets benefiting from the geopolitical thaw.

While unconfirmed by BlackRock, on-chain data aligns with increased selling volumes from large wallets. The scale of the transactions, combined with already cautious macro positioning, has dampened confidence in near-term price stability. 

Technical Outlook: Will Bitcoin Go Up?

For now, the Bitcoin price prediction remains cautious. The market structure favors consolidation within the current triangle, with downside risks if support fails to hold. A confirmed close below $109,000 could accelerate losses toward $106,000 before bargain buyers reemerge.

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To shift sentiment, Bitcoin must reclaim $114,000 and close above the 100-EMA with clear volume confirmation. That would signal renewed institutional interest and likely drive a move back to $118,000. Absent that recovery, the market may continue to drift lower as traders unwind exposure into global uncertainty.