$BNB Bitcoin touches $85,900! Surge in Whale & ETF demand as the main catalyst

Bitcoin price rose 4% to its highest level in 10 days at $85,900 on Wednesday after the Fed's decision to maintain interest rates as expected by the market. On-chain data from IntoTheBlock shows that large Bitcoin transactions increased by $13 billion since the beginning of the week, indicating accumulation by large investors.

Additionally, Bitcoin ETF recorded inflows of over $500 million in the three days leading up to the Fed's decision, marking the first positive fund flow for three consecutive days since January 31. On Wednesday alone, Bitcoin ETF recorded a net inflow of $209 million.

Technically, Bitcoin is still in a bullish trend with the MACD indicator showing positive momentum. However, there is a risk of price correction if large investors engage in "sell-the-news" actions, which could push prices down to $80,000. If Bitcoin fails to break the crucial price barrier of $90,000, profit-taking actions could trigger further declines with a strong support point at $76,606.

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