TL;DR
- Hilbert Group analyst Jesse Marre says Bitcoin must defend $75,500 to preserve its bullish market structure following its summer recovery.
- US spot Bitcoin ETFs recorded $442 million in weekly net inflows despite $635 million in withdrawals on Thursday.
- Tight liquidity, rising oil prices, and Federal Reserve policy could shape Bitcoin’s next move, with $87,500 emerging as a key resistance level.
Bitcoin faces a critical support test as renewed selling pressure challenges its recent recovery. Jesse Marre, senior portfolio manager at digital asset investment firm Hilbert Group, warns that a sustained break below $75,500 could undermine the bullish structure established since the summer lows.
In Hilbert Group’s October 26 market update, Marre pointed to five consecutive daily declines and a 5.4% weekly loss as signs of mounting pressure. However, continued investment in spot Bitcoin exchange-traded funds offers a counterpoint to the recent weakness.
Bitcoin Price Levels Put Bullish Structure To The Test
Bitcoin began the week near $84,800 before selling across equity markets and rising oil prices pushed it toward $79,200. Marre identified 78,500–79,500 as immediate support, where Bitcoin is testing a trend line that has supported its recent consolidation.
A sustained break below this zone could expose the market to further losses. The analyst considers $75,500 the more significant threshold, as losing that level could bring previous trading range lows back into focus.
On the upside, Bitcoin needs to reclaim $81,400 to return to its recent consolidation range. A move above $85,000 and $87,500 could strengthen the recovery and open a potential path toward 95,000–98,000.
These price levels provide a framework for assessing market momentum, although neither a breakdown nor a rally is guaranteed. Bitcoin’s ability to hold support and recover key resistance levels remains central to the near-term outlook.
ETF Inflows And Liquidity Shape Bitcoin’s Outlook
US spot Bitcoin ETFs attracted approximately $442 million in net inflows over the week, according to Hilbert Group. The figure came despite $635 million in withdrawals on Thursday, highlighting a sharp reversal in investor flows during the selloff.
Marre believes spot-market activity played a significant role in Bitcoin’s decline. Meanwhile, options trading reflected increased demand for downside protection. Deribit’s DVol index rose to 38, while five-delta put options carried implied volatility of 44%, compared with 38% for equivalent calls.
Broader financial conditions also weighed on risk assets. Brent crude approached $117 per barrel amid geopolitical concerns before falling below $114. Nvidia lost around 8% over the week, while Meta declined 9%, according to Hilbert’s report.
