Bitcoin Price Drops 1% As BlackRock’s Larry Fink Says Sovereign Wealth Funds Bought The Dip
The Bitcoin price has dropped 1% in the last 24 hours to trade at $92,024.99 as of 3:55 a.m. EST on trading volume that slumped 20% to $57.59 billion.
That fall came as BlackRock CEO Larry Fink said multiple sovereign wealth funds were buying the dip during Bitcoin’s recent sharp correction.
“They’re adding incrementally at $120,000, $100,000…I know they bought more in the 80s,” he said.
Fink said the funds are long-term holders and framed Bitcoin as a strategic asset that can help sovereign investors hedge against currency debasement, fiscal uncertainty, and global economic instability.
That pattern fits a broader trend: digital assets are no longer niche holdings for retail or small investors. Big institutions are beginning to treat BTC as part of traditional portfolios.
If accumulation continues, it could reduce the likelihood of steep drawdowns and support a more stable price floor over time.
The move by institutional buyers also signals that while the Bitcoin price may wobble in the short run, the long-term narrative around it remains strong.
Bitcoin Price Eyes Breakout Toward $100K
BTCUSDT price action indicates pulled back from the upper boundary of a multi-month ascending channel. The price drop toward the lower channel boundary, around the $90,000–$91,000 zone, may act as a springboard.
If BTC finds support here and rebounds, the path toward $100,000 looks plausible. A breakout could target the upper channel wall near $126,000. The level from which BTC started this correction.
However, this bullish case depends on whether buyers step in near the lower channel boundary and whether sovereign fund accumulation continues. If the lower support breaks, Bitcoin could test even lower levels, possibly revisiting the mid-channel or recent swing lows.
BTCUSD Analysis Source: Tradingview
The Relative Strength Index (RSI) is currently at 46.92, indicating a neutral reading. Sellers still have a slight advantage, but the fact that it is rising slowly hints that momentum may be shifting back to buyers if the price continues to hold above support.
The MACD line is currently below the signal line, with the histogram still in negative territory. This indicates that bearish momentum remains present. However, the histogram bars are getting shorter, meaning selling pressure is weakening. If the MACD crosses back above the signal line, that could confirm a bullish reversal from the recent low.
The ADX is at 35.02, which signals a strong trend. Since price has been falling, this high ADX reading means the previous downtrend was strong. If ADX starts dropping from this level, it would show that the downtrend is losing strength, and the market is preparing for a possible trend change or consolidation phase.
The indicators suggest that Bitcoin is stabilising, bearish momentum is fading, and buyers may begin stepping in. But confirmation will depend on the MACD reversal and RSI pushing decisively above 50.
Related Articles:
You May Also Like
Nvidia Faces Class Action Over Alleged Hidden Crypto GPU Revenue
Ethereum koers toont zeldzaam dubbel koopsignaal en richt zich op $4.550
