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The Bitcoin (BTC) market took a positive turn in the past week rising by 1.10% according to data from CoinMarketCap. While there are still expectations of a further price correction, the effects of macroeconomic developments as seen with recent statements from US President Donald Trump cast more uncertainty over the premier cryptocurrency’s future trajectory.

Bitcoin Bulls Face A Showdown At $98K Resistance – Can They Break Through?

Following an extended market correction, Bitcoin recorded spontaneous market gains in the last week reaching a local peak of round $95,000. Currently, the crypto asset trades around $86,000 with little indication of its future movement.

According to top market analyst Ali Martinez, Bitcoin’s price action is currently stuck between two key accumulation levels based on its cost basis distribution (CBD) — the allocation of Bitcoin holdings according to the price at which different investors acquired their BTC. The CBD helps to identify major support and resistance levels by showing where significant amounts of Bitcoin were bought or sold.

Based on the CBD data, Ali Martinez explains in making any further gains, Bitcoin will face a key resistance at $98,081. This prediction stems from investors previously acquiring 320,040 BTC at this price region and are likely to sell following a price rebound to exit the market with little or zero losses. However, if Bitcoin bulls can mount sufficient buying pressure to break past this resistance level, it paves the way for a return above $100,000 and perhaps a new all-time high.

On the other hand, should BTC resume its correction trend, Martinez highlights that the next significant support level based on accumulation data is at $59,882 at which 220,150 BTC have been previously accumulated.

If Bitcoin declines toward these support levels, it is likely to experience a strong bounce as long-term holders are likely to acquire more BTC to defend their positions. Interestingly, this analysis aligns with other market insights that suggest BTC is likely to undergo further correction. However, it’s worth noting that any decisive break below $59,882 would trigger a massive amount of panic selling.

BTC Price Outlook

At the time of writing, BTC trades at $85,995 following a minor 1.98% decline in the past day. Meanwhile, its daily trading volume is down by 6.38%, indicating a decrease in market interest. Amidst positive events like the establishment of a US Strategic Bitcoin Reserve, the BTC market remains in a rather volatile state as indicated by the larger market reaction to events of the past week.

Featured image from Morningstar, chart from Tradingview

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Bitcoin ETFs (exchange-traded funds) recorded significant net outflows this week, with institutional investors pulling out nearly $800 million amid market uncertainties.

Despite high expectations for the White House Crypto Summit, Bitcoin ETFs saw their fourth consecutive week of outflows, suggesting that institutional sentiment remains cautious. Over $4.5 billion in net assets have exited the market in the past four weeks.

Bitcoin and Ethereum ETFs Experience Heavy Outflows

Data on SoSoValue shows US Bitcoin ETFs faced total net outflows of $799.39 million this week after five consecutive days of negative flows.

The largest single-day outflow of the week occurred on Friday, with $409 million withdrawn from Bitcoin ETFs.

Data on Farside Investors corroborates the outlook. It shows that the largest contributors to Friday’s landmark outflows were Ark Invests’ ARKB and Fidelity’s FBTC ETF instruments. They posted $160 million and $154.9 million in negative flows, respectively.

BlackRock’s IBIT and Grayscale’s GBTC followed with $39.9 million and $36.5 million. Meanwhile, the other issuers, save for Bitwise (BITB), recorded zero flows.

Ethereum ETFs also continued their negative trend, logging a second consecutive week of net outflows.

These negative flows come despite anticipation that this would be a bullish week amid White House Crypto Summit hype. The outflows suggest that macroeconomic concerns and strategic market positioning have overshadowed the event’s impact.

Some analysts point to persistent fears over President Trump’s trade tariffs and broader economic instability. These, they say, sour institutional confidence. Specifically, industry experts have highlighted structural shifts in the market as a possible explanation for the ongoing capital flight.

Kyle Chasse recently explained that hedge funds have been exploiting a low-risk arbitrage trade between Bitcoin spot ETFs and CME futures. However, as these trades collapse, liquidity is withdrawn from the market, influencing sell-offs and outflows from crypto investment products.

QCP Capital Explains Crypto Market Reaction

Meanwhile, a recent report from QCP Capital provided additional insight into the market reaction. The firm noted that while the White House Crypto Summit was initially expected to be a key bullish catalyst, President Donald Trump preempted expectations by signing an executive order establishing the Strategic Bitcoin Reserve and US Digital Asset Stockpile.

Upon the signing, Bitcoin’s price dropped sharply from $90,000 to $85,000 in what analysts called a “sell the news” event. Market participants positioned for a bullish outcome at the summit were caught off guard, leading to a sharp sell-off.

“The knee-jerk reaction lower likely stems from the realization that no actual budget has been allocated for BTC purchases in the near term,” read an excerpt in the QCP report.

This explains Friday’s climax of the week’s Bitcoin ETF outflows. Overall, it’s evident that macroeconomic factors are driving fears among institutional investors, at least for the short term.

This week in crypto was marked by major exchange updates and political shifts influencing digital assets. Taken together, the highlights display how the global cryptocurrency ecosystem continues to advance.

The following is a recap of the biggest stories that happened this week in crypto and will continue to shape the sector.

Pi Network’s PI on CoinMarketCap

Pi Network’s PI token made headlines this week when it successfully secured a listing on CoinMarketCap. The milestone will certainly increase the project’s visibility.

However, the excitement remains dampened by continued delays regarding its listing on Binance. The Pi Network community remains optimistic after significant voter support among the exchange’s community members.

The prolonged wait raises concerns about when and if Binance will approve its listing. Despite the setbacks, the token continues to attract a huge following. As BeInCrypto reported, Pi Network now boasts a followership of over 4 million on X (Twitter).

Trump Announced the US Crypto Reserve

US President Donald Trump shook the crypto space by proposing the establishment of a US Crypto Reserve. As BeInCrypto reported, he named XRP, Cardano (ADA), and Solana (SOL) as potential assets in the reserve.

This move aimed to boost the country’s positioning in the blockchain sector and provide a more stable framework for integrating cryptocurrencies into national financial structures. The announcement triggered both excitement and skepticism.

Analysts debated whether this proposal was feasible. On the other hand, experts predicted more altcoins could be added to the crypto reserve. As it happened, however, Commerce Secretary Howard Lutnick revealed Bitcoin would get preferential treatment.

US to Establish Strategic Bitcoin Reserve

It turned out that Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve, funded with seized BTC, aiming to secure the US’ digital asset strategy.

“Bitcoin, the original cryptocurrency, is referred to as “digital gold” because of its scarcity and security, having never been hacked. With a fixed supply of 21 million coins, there is a strategic advantage to being among the first nations to create a Strategic Bitcoin Reserve,” the order read.

The order also authorized budget-neutral strategies for potentially acquiring more Bitcoin. Yet, critics argue that the reserve lacks substantive impact.

To some, however, Trump’s latest executive order presents as a rebranded version of past initiatives rather than a transformative step for crypto regulation. While the order emphasizes the potential of a national Bitcoin reserve and greater integration of blockchain into financial systems, critics argue that it repackages previously suggested policies without offering tangible steps forward.

This has led to speculation about whether the administration is taking genuine action or merely capitalizing on crypto’s popularity for political leverage.

Binance Delisting Concerns: 10 Tokens at Risk

In exchange-related news, Binance placed ten altcoins under review, signaling potential delistings due to regulatory concerns and insufficient liquidity. The uncertainty surrounding these tokens has led to market volatility, with investors closely watching for Binance’s final decision.

In the latest update, GoPlus Security (GPS) has joined the list, following the incorporation of a monitoring tag. It comes only days after it was listed on Binance.  

“The Monitoring Tag has been applied to GoPlus Security (GPS) due to a significant price drop immediately following the spot listing and certain market-making behavior of one of GPS’ market makers,” Binance said in a statement.

In the immediate aftermath of this announcement, GPS saw an immediate 49% decline in price. The sharp drop reflects the market’s sensitivity to Binance’s listing and delisting decisions.

Trump Hosts First-Ever White House Crypto Summit

Another of the top crypto news this week is the much-anticipated White House Crypto Summit. The event, which will take place today, marks the first event of its kind. Reports suggest that key topics will include regulatory frameworks, the role of crypto in national security, and the future of decentralized finance (DeFi).

Industry leaders, policymakers, and blockchain innovators will gather to discuss the path forward. However, many are waiting to see whether tangible policy changes will emerge from the discussions. Analysts suggest that while the event is a step in the right direction, the long-term impact depends on how the administration follows up with actionable measures.

A notable controversy at the summit was Ethereum’s indirect representation. Many in the Ethereum community expressed concerns that their blockchain was not given a direct platform, despite its critical role in the crypto ecosystem.

Following the summit, the crypto market could see increased volatility, with projects tied to summit attendees likely to experience price swings. Ted, a crypto investor, shared a list of altcoins poised for impact.

Notwithstanding, this week demonstrated how politics, regulation, and exchange activities shape the crypto playing field. With ongoing debates over listings, delistings, executive orders, and policy shifts, today’s Crypto Summit has the industry in flux.