Xinhuo Research Institute said Bitcoin has seen concentrated dip buying in the $60,000 range, describing the area as a “high cost-performance zone” that is undergoing a wave of ownership rotation. According to the report, market panic has eased, and buying activity around this price band has become more concentrated as capital repositions after the decline.
ETF Outflows Narrow as OTC Activity Rises
On the funding side, the institute pointed to narrowing ETF outflows and a repair in negative premiums as signs of improving market sentiment. It also said Xinhuo Group’s OTC trading volume has surged, with institutional capital entering against the broader trend. OTC trading refers to over-the-counter transactions, and the report uses the increase in such volume as one indicator of stronger institutional participation.
The report also stated that miner shutdown costs provide bottom support in the $30,000 to $50,000 range. It listed liquidity release, the FOMC meeting, and policy expectations around the CLARITY Act as upward drivers. Overall, Xinhuo Research Institute framed the $60,000 area as an important zone where Bitcoin positions are being actively transferred between market participants.