Bitcoin has staged an unexpected surge, climbing above $93,000 even as U.S. spot Bitcoin ETFs continue to log net outflows.
The rally has caught traders off-guard, especially given the wave of forced liquidations and muted institutional flows seen over the past week. At the time of writing, Bitcoin trades near $93,366, up more than 3% over the last 24 hours and about 2.6% on the week. The move reflects renewed accumulation after a sluggish period marked by declining ETF inflows and profit-taking.
- Bitcoin is trading above $93K, gaining over 3% in 24 hours.
- ETF flows remain negative, yet the spot price continues rising.
- Technical indicators like RSI, MACD, and moving averages lean bullish.
The market also absorbed $118 million in leveraged liquidations, most of which came from short positions ($102 million), forcing bearish traders to exit and amplifying upward momentum.
Technical Signals Lean Toward Bullish Continuation
Momentum indicators support the recovery. The 4-hour RSI has bounced back into the 60s, signalling rising buying strength, while the MACD shows a positive crossover, hinting at growing upward momentum.
TradingView’s daily technical summary has shifted to a “Buy” inclination, supported by moving averages trending bullish. Oscillators remain neutral but show improving strength, suggesting buyers are gradually regaining control.
ETF Flows Turn Negative but Spot Price Climbs Regardless
Interestingly, the rebound comes despite continued outflows from Bitcoin ETFs. Farside Investor data shows multiple sessions with red numbers — including sizeable withdrawals from products issued by BlackRock, Fidelity, and Grayscale — but Bitcoin has remained resilient.
This divergence suggests spot market demand, derivatives positioning and short squeezes are currently doing more price lifting than ETF allocations. It also implies that institutional hesitation has not yet translated into broader market weakness.
Market Sentiment Improves as Trend Weakness Fades
The recent price pattern — lower selling pressure, higher lows, and stability above the $90K zone — is being interpreted by traders as an early sign of trend exhaustion among bears.
Short-term buyers appear willing to defend territory above $92K, with analysts pointing to $95,000 as a crucial breakout level. A decisive reclaim above it could push Bitcoin back toward its recent peak ranges.
Meanwhile, liquidation data and volatility spikes indicate that short traders are being squeezed, further fueling upward price pressure.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/bitcoin-price-jumps-above-93000-as-bulls-defy-etf-outflows/