Bitcoin continues to face pressure near $91,000 as a bearish ABCD pattern targets $83,800, even as institutional and sovereign confidence strengthens. Cathie Wood’s ARK Invest purchased $10 million in Bullish shares amid a crypto stock sell-off, while El Salvador defied IMF guidance with a fresh $100 million Bitcoin buy. These moves highlight growing long-term conviction despite short-term market weakness.
Cathie Wood’s ARK Invest made a bold move on Monday, buying $10.2 million worth of shares in Bullish (BLSH) as crypto-linked stocks plunged. The investment was spread across ARK’s flagship ETFs, ARKK, ARKW, and ARKF, after Bullish’s stock tumbled 4.5% to $36.75, extending a six-month slide of nearly 46%.
The purchase came just a day before Bullish’s Q3 earnings report, where the exchange previously posted weaker revenue but stronger net profits. The timing signals ARK’s confidence in a potential recovery despite short-term volatility in the sector.
While the sell-off reflects short-term investor caution, ARK’s aggressive buying hints at growing conviction that the worst may be over, and that Bitcoin’s stabilization could soon restore confidence across crypto markets.
El Salvador Buys $100M in Bitcoin, Raising IMF Concerns
In spite of having previously agreed with the IMF to restrict Bitcoin purchases as part of a $1.4 billion loan arrangement El Salvador has purchased 1,090 additional Bitcoin valued more than $100 million. The nation now has over 7,474 BTC up from 5,968 BTC in December 2024 according to government data.
The most recent information contradicts the IMF’s earlier this year claim that El Salvador has not purchased any new Bitcoin since the loan arrangement. The government was requested by the IMF to lower risks by restricting BTC publicity and minimizing the public sector’s involvement in the Chivo wallet.
The country’s following the agreement is now under scrutiny due to this abrupt and substantial acquisition. El Salvador’s large purchase bolsters long-term trust in Bitcoin. The news boosts hope and may help calm BTC during market falls even though it might not result in an instant price increase.
Bitcoin Price Prediction: ABCD Pattern Targets $83,800 Before Relief Rally
Bitcoin (BTC/USD) remains under heavy selling pressure, trading near $91,000 as a bearish ABCD pattern unfolds on the daily chart. This harmonic structure, known for its symmetry between price swings, points to a potential completion near $83,800 — a key demand zone that previously triggered major rebounds in early 2024.
The “AB” leg’s drop from $115,200 to $99,000 now mirrors the ongoing “CD” leg, signaling that downside momentum may soon reach exhaustion. The 20-day EMA crossing below the 50-day EMA confirms short-term bearish control, while the RSI hovering around 30 shows oversold conditions — often a precursor to relief bounces.
Candlestick patterns are also hinting at a shift. Long lower wicks suggest dip buyers are beginning to step in near support, testing sentiment as BTC nears its technical floor. If bulls defend the $83,800 zone, a rebound toward $96,000 and possibly $99,000 could follow, with the broken trendline acting as new resistance.
However, failure to hold above $83,000 would expose Bitcoin to deeper losses toward $74,500 — aligning with the lower boundary of the broader accumulation range.
For traders, confirmation is key: a bullish engulfing or hammer candle at the demand zone could mark the turning point. Despite the current weakness, Bitcoin’s structure still supports a broader recovery heading into 2026, with the ABCD pattern potentially signaling the final leg of this correction before the next upward phase.
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