Bitcoin Fall Reach $98K Amid Geopolitical Wahala, Institutions Dey Buy Di Dip
Bitcoin drop 11% from around $110,000 go to $98,000 as Middle East tension don rise wey dey involve Iran, Israel and the U.S. Traders briefly push price up 3% because new institutional buying start. Big companies like MicroStrategy, Metaplanet (1,111 BTC), Panther Metals and Sequans add more than $500 million BTC to their treasuries this week, while U.S. spot Bitcoin ETFs receive $408.6 million inflows. On-chain data show weekly RSI divergence wey fit mean say price fit test between $92,000–$94,000, but strong bids and plenty liquidity for up top fit cause short squeeze. Technicals dey mix: Bitcoin still hold key support for $103,430 and 50-day EMA, with bearish MACD setup ready for bullish crossover. Market eye dey the FOMC meeting today, where Fed dey expected to keep rates steady but fit signal two rate cuts this year—news wey fit spark another rally and maybe test all-time high near $111,000.
Bullish
Even wit di 11% price drop to $98K because of geopolitical wahala, strong institutional demand—from record ETF inflows to big corporate treasury buys—dey give solid support. Technical levels at $103,430 and di 50-day EMA still dey intact, and possible MACD bullish crossover fit trigger rally. Di Fed likely go signal future rate cuts, adding more bullish momentum, meaning traders fit see upside again towards $111K. On di other hand, short-term RSI divergence dey warn about small dip to $92K–$94K, but overall di balance of catalysts dey favor renewed buying pressure.