Bitcoin Price Slides To $89k After BlackRock Transferred $125 Billion Worth of BTC

The Bitcoin price has slumped 3% in the last 24 hours to trade at $89,743 on a 4% daily trading volume drop to $80.8 billion.

The drop in BTC price follows a sharp shift in sentiment after BlackRock transferred $125 million in Bitcoin to Coinbase during a sensitive moment in the market. Traders saw the move as poorly timed, creating hesitation because large inflows often signal quick repositioning. Recent rebounds had already been weak, allowing sellers to grow more confident while buyers stepped back to avoid unpredictable volatility.

Market pressure increased when U.S. PCE inflation rose to 2.8%, pushing Bitcoin lower as traders adjusted expectations for possible policy changes. This inflation reading made investors more cautious in the short term and added to the negative mood that had already formed after BlackRock’s transfer. With both developments hitting together, market sentiment weakened further.

Liquidity around key resistance levels became thin as participants reduced their exposure. These conditions added stress to an already fragile environment, leaving Bitcoin facing stronger headwinds while traders monitor upcoming flows and macro signals.

Bitcoin Begins Recovery Attempt After Hitting Major Support Zone

Bitcoin is trying to recover after several weeks of selling pressure, and the price is now around $89,566. The chart shows that BTC found strong support in the $86,000–$90,000 zone, which has acted as a major demand area in the past. This zone also sits close to the 200-day moving average at $88,711, making it an important level for long-term buyers.

Before the bounce, Bitcoin was moving inside a bearish channel, creating lower highs and lower lows. This pattern pushed the price below the 50-day moving average at $109,725, showing that short-term momentum had turned bearish. However, the recent upward movement suggests that sellers may be losing strength. The price is beginning to curve upward, forming what looks like a parabolic recovery, which often signals the early stages of a trend reversal.

If Bitcoin continues to rise, the first major target is the $120,000–$126,000 resistance area. This zone rejected price strongly earlier, so breaking above it would show that buyers have fully regained control. For the bullish trend to return, BTC must move above the bearish channel and reclaim the 50-day moving average.

The RSI is at 34.31, which is still in oversold territory. This means the market is weak, but it can also be a sign that a rebound is building. If RSI moves above 40–45, it would confirm improving momentum. The MACD is still negative, but the bars on the histogram are shrinking, meaning selling pressure is slowing down.