On Monday, Bitcoin was around $83,000, having fallen by 2.2% over the past 24 hours. The decline occurred amid fresh uncertainty in Middle Eastern diplomacy, affecting market sentiment. According to the latest report, Dr. Profit noted that the previously set target of $88,000 was nearly reached when Bitcoin rose from $60,000 to $87,300. He now forecasts that the asset may correct to $79,000, which is near the 50-week moving average, before continuing its growth. Dr. Profit pointed out bearish divergences in RSI, MACD/PPO, and MFI, as well as a decrease in trend strength in ADX as signs of a possible short-term correction. 'I believe Bitcoin is in a BULL MARKET, but I expect a correction WITHIN this bull market. At the $79K level, I want to see if the MA50 Weekly will act as support.'
Meanwhile, Ali Martinez indicated that Bitcoin is testing the $82,000 level again after breaking out of a double bottom pattern, which may now act as support. If the asset manages to hold above this level, it could lay the foundation for new growth. Martinez forecasts that Bitcoin could rise to $100,000 if this setup works. There is also active accumulation by large holders. Wallets holding between 100 and 1,000 BTC have acquired nearly 114,000 coins since July 15. As for institutional investors, American Bitcoin ETFs continued to show steady demand last week. The largest inflow occurred on Monday when investors poured nearly $1 billion into the funds in one day. Although inflows cooled after that, they remained positive throughout the week. By Friday, Bitcoin ETFs had gathered a total of $2.39 billion for the week, ultimately increasing their cumulative net inflows to $57.55 billion.
The steady demand aligns with the results of a survey conducted by Bitwise among institutional investors. They surveyed 15 institutions and found that none reduced their cryptocurrency holdings during the sharp market decline between Q4 2025 and Q2 2026. Most hold between 1% and 2% of their investable assets in cryptocurrencies. The strategy also returns to active Bitcoin purchases. The company added another 1,665 BTC last week at an average price of $85,681. Thus, their total holdings amount to 847,666 BTC, which are currently worth over $70 billion.
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