Bitcoin ($85,880) continues to trade firmly above both its 20-day EMA ($84,120) and 50-day SMA ($81,400), maintaining institutional market structure across higher timeframes. The Daily RSI currently prints at 58.4, demonstrating sustainable bullish momentum without entering overheated overbought territory (>75). Immediate resistance resides at the pivot cluster of $86,500 – $87,150, with major structural support solidly established near $84,100.

Institutional sentiment remains elevated with the Crypto Fear & Greed Index registering at 70 (Greed). US Spot Bitcoin ETFs absorbed a notable +$425.36M in net inflows over the latest reporting session, comfortably offsetting native miner rewards. Concurrently, derivative markets reflect aggressive short exposure being flushed out, with total 24-hour liquidations reaching $894.20M (69% shorts liquidated), providing sustained squeeze fuel toward key overhead liquidity pools.