Bitcoin Remains in Bull Market Despite Short-Term Correction Risks

Bitcoin is experiencing short-term volatility, trading around $83,000 amid geopolitical uncertainty. Analysts suggest a potential pullback to the $79,000 level, near the 50-week moving average, before a possible recovery. Despite the correction risk, institutional demand remains strong, with US spot Bitcoin ETFs recording $2.39 billion in inflows last week, bringing cumulative net inflows to $57.55 billion. Meanwhile, mid-sized whale wallets have been accumulating BTC since mid-July.