Bitcoin Tests 100 EMA at $111K with No New Inflows
Bitcoin is testing its 100-day exponential moving average (EMA) around $111,000 after Federal Reserve Chair Jerome Powell’s dovish remarks improved liquidity expectations. However, on-chain metrics show no fresh capital entering the market. Declining trading volume and slowing network growth suggest limited upside without new inflows or institutional demand.
Failure to hold the 100 EMA could trigger a deeper pullback toward the 200 EMA near $104,000. Key resistance sits at $116,500, where recent rallies faced rejection. Traders should watch trading volumes on up days and net inflows tracked on-chain for bullish confirmation. A close above the 100 EMA with rising liquidity could signal renewed momentum, while breakdown below the 200 EMA warrants cautious risk management.
In this neutral-to-cautious outlook, Bitcoin price remains range-bound. Use the 100 EMA as short-term support and set protective stops below the 200 EMA. Monitor on-chain metrics, volume trends, and institutional inflows for clear entry or exit cues.
Neutral
This analysis remains neutral as Bitcoin price faces mixed signals. Jerome Powell’s dovish shift supports macro liquidity, but stagnant on-chain inflows and falling volume weaken bullish conviction. Similar to past episodes where Fed easing failed to spark sustained rallies without new capital, Bitcoin may trade sideways between the 100 EMA ($111K) and $116,500 resistance. A decisive close above the 100 EMA on rising volume could turn bullish. Conversely, breakdown below the 200 EMA ($104K) would confirm a deeper pullback. Short-term traders should manage risk around these key EMAs. Long-term investors may wait for clear signs of inflows before increasing exposure.