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Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) threatened a fresh breakdown after the Dec. 10 Wall Street open as its latest rebound turned shaky.
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 <img alt="Bitcoin finds willing dip-buyers after BTC price wicks to key $94K low" src="https://s3.cointelegraph.com/uploads/2024-12/0193b164-31c6-7c0a-95c6-edf902a3b84b" title="">
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 BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
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<h2 id="bitcoin-analysis-market-isn-t-very-confident">Bitcoin analysis: Market “isn’t very confident”</h2>
Data from <a data-ct-non-breakable="null" href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="null" target="null" text="null" title="null">Cointelegraph Markets Pro</a> and <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="null" target="null" text="null" title="null">TradingView</a> showed that the BTC price action returned below $96,000.
After bouncing as high as $98,000, bulls appeared to run out of steam as BTC/USD neared 2% daily losses.
“Looks like longs are rolling off here / taking profits,” popular trader Skew <a data-ct-non-breakable="null" href="https://x.com/52kskew/status/1866457526352691461" rel="null" target="null" text="null" title="null">commented</a> on the daily highs.
<blockquote>
 “Further confirms $97.7K - $98K is key for buyers to reclaim. Typically this means the market isn't very confident on price currently till more strength is shown.”
</blockquote>
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 <img alt="Bitcoin finds willing dip-buyers after BTC price wicks to key $94K low" src="https://s3.cointelegraph.com/uploads/2024-12/0193b15d-7641-74e2-9506-feb6ae7d8d44" title="">
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 Bitcoin market data. Source: <a data-ct-non-breakable="null" href="https://x.com/52kskew/status/1866457526352691461/photo/1" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/52kskew/status/1866457526352691461/photo/1">Skew</a>
 </figcaption>
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Crypto technical analysis YouTube channel More Crypto Online warned that another local low could follow the previous day’s trip to $94,000.
“One more low is still likely. After this one more low it is possible that white wave d can lead to another test of $100,000,” part of its latest X post <a data-ct-non-breakable="null" href="https://x.com/Morecryptoonl/status/1866510802804498846" rel="null" target="null" text="null" title="null">stated</a>.
<figure>
 <img alt="Bitcoin finds willing dip-buyers after BTC price wicks to key $94K low" src="https://s3.cointelegraph.com/uploads/2024-12/0193b15d-f942-70f8-a218-6d9d8db5cfb3" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-hour chart. Source: <a data-ct-non-breakable="null" href="https://x.com/Morecryptoonl/status/1866510802804498846/photo/1" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/Morecryptoonl/status/1866510802804498846/photo/1">More Crypto Online</a>
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Despite the short-term weakness, trading resource Material Indicators revealed buyer interest from small-volume entities on the day.
“FireCharts binned CVD shows the 2 smallest order classes are being dominated by TWAP bots which have bought over $100M in $BTC on @binance over the last 10 hours,” it <a data-ct-non-breakable="null" href="https://x.com/MI_Algos/status/1866487790357143818" rel="null" target="null" text="null" title="null">confirmed</a> alongside a screenshot of the Binance order book, referring to one of its proprietary trading tools.
<blockquote>
 “Pro Tip: That ain't retail.”
</blockquote>
<figure>
 <img alt="Bitcoin finds willing dip-buyers after BTC price wicks to key $94K low" src="https://s3.cointelegraph.com/uploads/2024-12/0193b15e-658a-7b94-8e1d-4dead2789843" title="">
 <figcaption style="text-align: center;">
 BTC/USDT order book liquidity for Binance. Source: <a data-ct-non-breakable="null" href="https://x.com/MI_Algos/status/1866487790357143818/photo/1" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/MI_Algos/status/1866487790357143818/photo/1">Material Indicators</a>
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Subsequent commentary likewise kept the faith in the strength of the Bitcoin bull run following two major liquidation events.
“The party never stopped, however, some over zealous, over leveraged party goers were sent home,” Material Indicators <a data-ct-non-breakable="null" href="https://x.com/MI_Algos/status/1866488941895139681" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/MI_Algos/status/1866488941895139681">wrote</a>.
<h2 id="bitcoin-etfs-shrug-off-btc-price-wobbles">Bitcoin ETFs shrug off BTC price wobbles</h2>
Institutional interest was also undeterred by recent BTC price volatility.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-most-liquidations-since-2021-crazy-reset-wipes-1-6-b" rel="null" target="null" text="null" title="null">Bitcoin sees most liquidations since 2021 as ‘crazy’ reset wipes $1.6B</a>
Data from sources including United Kingdon-based investment firm Farside Investors <a data-ct-non-breakable="null" href="https://farside.co.uk/btc/" rel="nofollow noopener" target="_blank" text="null" title="https://farside.co.uk/btc/">showed</a> multimillion-dollar daily net inflows continuing for the United States spot Bitcoin exchange-traded funds (ETFs). The tally for Dec. 9 alone totaled nearly $500 million.
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 <img alt="Bitcoin finds willing dip-buyers after BTC price wicks to key $94K low" src="https://s3.cointelegraph.com/uploads/2024-12/0193b15f-daea-710a-8c5d-3db6e9b87b5d" title="">
 <figcaption style="text-align: center;">
 US spot Bitcoin ETF netflows (screenshot). Source: <a data-ct-non-breakable="null" href="https://farside.co.uk/btc/" rel="nofollow noopener" target="_blank" text="null" title="https://farside.co.uk/btc/">Farside Investors</a>
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“Bitcoin was rocked by $1.5 billion in long liquidations, plunging 3,000 points before rebounding off the critical 95k support,” trading firm QCP Capital wrote in part of its latest market coverage for Telegram channel subscribers.&nbsp;
<blockquote>
 “It now consolidates around 97-98k, leaving altcoins in its wake. Yet, BTC and ETH spot ETFs are on an impressive streak, posting 8 and 11 consecutive days of net inflows, respectively.”
</blockquote>
The trend marks a shift in ETF responses to price volatility, with <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/spot-bitcoin-etfs-nov-25-outflow" rel="" target="_self" text="null" title="https://cointelegraph.com/news/spot-bitcoin-etfs-nov-25-outflow">outflows previously resulting</a> from short-term dips.
QCP noted that Dec. 10 would see a vote by tech giant Microsoft over whether to adopt a form of corporate Bitcoin strategy, a moved <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/michael-saylor-tells-microsoft-it-could-grow-5-trillion-with-bitcoin" rel="null" target="null" text="null" title="null">that was pitched</a> by MicroStrategy chairman Michael Saylor at the start of the month.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin finds willing dip-buyers after BTC price wicks to key $94K low

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