Bitcoin Set to Exit Triangle: Can ETF Inflows Fuel a $90K Rally?

Bitcoin remains trapped in a triangle pattern, keeping traders on edge. Can a breakout rally to $90K occur amid a surge in ETF inflows?

At nearly $83,000, Bitcoin continues to fluctuate while the broader market uncertainty intensifies. With the intraday pullback of 1.27%, the BTC price action warns of a major crash ahead. 

However, the impressive comeback in institutional support from U.S. Bitcoin spot ETFs teases another breakout rally. Will the institutional investment steer Bitcoin away from a breakdown correction for a bounce back to the $90,000 mark? 

Bitcoin Within Ascending Triangle Warns Breakdown

On the hourly time frame, Bitcoin’s price action shows an ascending triangle pattern that will determine its fate. Currently, Bitcoin struggles to break the resistance near $84,850, a sign of bullish failure.

The pullback, amounting to nearly 2%, is testing the local support trendline. The growing bearish pressure on Bitcoin’s price trend raises the possibility of a breakdown correction.

However, the ongoing recovery within the ascending triangle shows a positive crossover in the Directional Movement Index (DMI) lines. Additionally, the ADX line, which reflects trend momentum, is showing an uptick.

Bitcoin ETFs Mark Biggest Inflow Since February 4

Despite the downside risks, the resurgence of institutional investment in Bitcoin from the U.S. ETF market offers hope for a potential recovery. On March 17, U.S. Bitcoin spot ETFs recorded a daily net inflow of $274.59 million.

Among the biggest contributors, Fidelity recorded $127.28 million, followed by ARK and 21Shares, which saw inflows of $88.53 million. BlackRock also recorded $42.26 million, with Grayscale adding $14.22 million and Bitwise $2.3 million.

Meanwhile, other Bitcoin ETFs like WisdomTree, Coinshares, and Franklin reported a net-zero flow. With this massive influx, Bitcoin ETFs have seen their largest inflows in the past six weeks.

Will Bitcoin Bounce Back to $90k?

Given the renewed institutional support driving Bitcoin demand, the chances of a breakout rally from the triangle pattern have significantly increased. In such a scenario, pivot levels suggest an immediate price target of $86,387 at the R1 pivot level.

However, the key price target remains at the R2 pivot level, which is set at $90,200—representing an upside potential of nearly 9%.

Warning of a Bear Cycle

As the BTC price action hangs at a balance, Ki Young Ju, the founder and CEO of CryptoQuant, highlights a potential bear cycle coming for Bitcoin. In his recent tweet, Young states that the Bitcoin bull cycle is over. 

The analyst anticipates 6 to 12 months of bearish or sideways price action.

#Bitcoin bull cycle is over, expecting 6–12 months of bearish or sideways price action. pic.twitter.com/f80bnNhjy4

— Ki Young Ju (@ki_young_ju) March 17, 2025

As Bitcoin tests the local support trendline after a steep pullback, the risk of a breakdown rally increases.

Based on the pivot levels, the correction could test the center pivot level near $81,500. However, the increased momentum might drive Bitcoin to the S1 pivot support level at $77,683, suggesting a downside risk of nearly 6.5%.

In short, the final confirmation of Bitcoin’s direction will come from its price action as it remains trapped in the triangle pattern.