Bitcoin's structure stabilises, but key levels remain in play

BTC is consolidating after its deepest correction of the cycle. It’s holding above US$86K, which is constructive short term, but the structure remains fragile. As I mentioned to The Block, a sustained reclaim above US$88K would confirm a bottoming process, while failure risks a retest of US$85,204 and possibly US$80K.

Market sentiment short term, long term, institutional:

Short term, sentiment is cautious and flow-driven, traders are watching funding rates and liquidation levels for signs of stability. Long term, the thesis remains intact: structural demand via ETFs and network fundamentals hasn’t changed. For institutions, it’s a rotation phase rather than an exit, ETF outflows reflect risk management, not abandonment. The big picture still favours crypto as an asset class, but near-term volatility is the trade.

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