Bitcoin Hits $97K: BlackRock Clients Pour $646M Into BTC as Shorts Get Wiped Out

Bitcoin Rebounds to $96K–$97K as BlackRock Buying Tops $646M and Leverage Resets Favor Bulls

Bitcoin (BTC) has staged a convincing rebound, reclaiming the $96,000–$97,000 zone amid a powerful confluence of institutional accumulation, spot-driven buying, leverage resets, and thinning downside liquidity. The move reflects structural strength rather than speculative excess, with key on-chain and derivatives signals aligning to support continuation rather than reversal.

Institutional Conviction: BlackRock-Led Accumulation

Whale Insider data confirms significant institutional activity, with BlackRock clients accumulating $646.62 million in BTC — a clear sign of long-term capital committing during periods of uncertainty. Meanwhile, Santiment metrics show retail FUD (fear, uncertainty, doubt) reaching a ten-day peak globally, even as BTC holds elevated levels. This classic divergence — institutions buying while retail hesitates — often marks continuation phases rather than market tops.

Structural Breakout: From Accumulation to Early Mark-Up

On the charts, Bitcoin has decisively broken out of its multi-week accumulation zone (roughly $85,000–$95,600), transitioning from a corrective mark-down phase into early mark-up. The price has established acceptance above $95,637 (prior resistance, now flipped support), with pullbacks to this level consistently attracting buyers.

Key levels remain in focus:

• Support — $95,600–$96,000 (range high flip) — continues to hold firm.
• Resistance — $105,000 (next major supply zone), followed by $116,147.

RSI has climbed into the upper 60s without reaching overheated levels, while higher lows beneath resistance indicate controlled expansion rather than exhaustion.

Spot Taker CVD Turns Decisively Positive

The 90-day Spot Taker Cumulative Volume Delta (CVD) has flipped strongly positive, confirming aggressive buyers are lifting offers and dominating execution. This shift is particularly meaningful because spot-led moves tend to exhibit greater staying power than purely leverage-driven spikes.

Positive CVD during consolidation reflects genuine accumulation rather than emotional chasing. The pattern suggests buyers are committing capital while sentiment remains cautious — a hallmark of structurally sound uptrends.

Leverage Reset: Long Liquidations Absorbed Without Breakdown

Liquidation data reveals a healthy reset that favored stability. During the recent pullback, long liquidations reached approximately $17.99 million, while shorts accounted for only $1.47 million. Critically, Bitcoin held near $96,000 despite this flush — evidence of strong underlying spot demand absorbing forced selling.

When longs unwind without triggering cascading selloffs, markets often stabilize and strengthen. This leverage reset reduces fragility by clearing overcrowded positioning, lowering the risk of sharp downside volatility.

Liquidation Heatmap: Downside Liquidity Thinning

The Binance BTC/USDT liquidation heatmap shows downside liquidity below $95,000 gradually clearing, while heavier clusters remain above the current price. As Bitcoin consolidates near $96,000, lower liquidation bands lose density — reducing potential downside pull. Price tends to gravitate toward concentrated liquidity zones, and the thinning below current levels favors upside exploration over renewed breakdowns.

Summary: Structural Strength Over Speculative Excess

Bitcoin's current rebound reflects genuine underlying demand rather than leverage-fueled noise:

• Institutional accumulation (BlackRock and others) provides a strong floor.
• Positive spot CVD confirms aggressive buying.
• Leverage resets have cleared fragility without breaking structure.
• Downside liquidity continues to thin, reducing risk of sharp cascades.
• Retail FUD peaks while institutions commit — a classic belief-gap setup.

As long as buyers defend the $95,600 support zone, the broader structure favors expansion toward $105,000 and potentially higher. The alignment of these factors suggests the rally has more sustainable legs than recent short squeezes alone — with disbelief-driven momentum still intact.

Traders should monitor ETF flows, spot CVD trends, and any macro catalysts closely. The current setup points to continuation over failure, with Bitcoin well-positioned for further upside if support holds.

Srebrin Petrov publication: "Bitcoin Hits $97K: BlackRock Clients Pour $646M Into BTC as Shorts Get Wiped Out" was written for 24crypto.news

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