Bitcoin Price Forecast: $83,800 Support Level Examined as ARK Invest Acquires $10 Million and El Salvador Increases Holdings by $100 Million in BTC

Bitcoin remains under pressure around $91,000 as a bearish ABCD pattern points to a target of $83,800, despite increasing confidence from institutional and sovereign investors. Cathie Wood’s ARK Invest acquired $10 million in Bullish shares during a downturn in crypto stocks, while El Salvador went against IMF recommendations by purchasing an additional $100 million in Bitcoin. These actions underscore a growing long-term belief in Bitcoin, even amid short-term market challenges.

ARK Invest Acquires $10M in Bullish Shares Amid Crypto Stock Decline

Cathie Wood’s ARK Invest made a significant investment on Monday, acquiring $10.2 million in shares of Bullish (BLSH) as crypto-related stocks fell sharply. The investment was distributed across ARK’s primary ETFs, ARKK, ARKW, and ARKF, following a 4.5% drop in Bullish’s stock to $36.75, marking a nearly 46% decline over the past six months.

This purchase occurred just one day prior to Bullish’s Q3 earnings report, where the exchange had previously reported lower revenue but improved net profits. The timing indicates ARK’s confidence in a potential recovery despite the current volatility in the market.

While the sell-off reflects short-term investor caution, ARK’s proactive buying suggests a growing belief that the worst may be behind, and that Bitcoin’s stabilization could soon restore confidence across the crypto landscape.

El Salvador Acquires $100M in Bitcoin, Raising IMF Concerns

Despite having previously agreed with the IMF to limit Bitcoin purchases as part of a $1.4 billion loan agreement, El Salvador has acquired an additional 1,090 Bitcoin valued at over $100 million. The country now holds more than 7,474 BTC, up from 5,968 BTC in December 2024, according to government data.
This latest development contradicts the IMF’s earlier assertion that El Salvador had not made any new Bitcoin purchases since the loan agreement. The IMF had advised the government to mitigate risks by limiting BTC publicity and reducing public sector involvement in the Chivo wallet.

The nation’s adherence to the agreement is now under scrutiny due to this sudden and significant acquisition. El Salvador’s substantial purchase reinforces long-term confidence in Bitcoin. While it may not lead to an immediate price surge, the news could help stabilize BTC during market downturns.

Bitcoin Price Prediction: ABCD Pattern Targets $83,800 Before Potential Rally

Bitcoin (BTC/USD) continues to experience significant selling pressure, trading close to $91,000 as a bearish ABCD pattern develops on the daily chart. This harmonic structure, recognized for its symmetry between price movements, indicates a potential completion near $83,800 — a crucial demand zone that previously triggered significant rebounds in early 2024.

The decline of the “AB” leg from $115,200 to $99,000 now mirrors the ongoing “CD” leg, suggesting that downside momentum may soon be exhausted. The 20-day EMA crossing below the 50-day EMA confirms short-term bearish dominance, while the RSI hovering around 30 indicates oversold conditions — often a precursor to relief rallies.

Bitcoin Price Chart – Source: Tradingview

Candlestick patterns also indicate a potential shift. Long lower wicks suggest that dip buyers are starting to enter near support, testing market sentiment as BTC approaches its technical floor. If bulls defend the $83,800 level, a rebound towards $96,000 and possibly $99,000 could ensue, with the broken trendline serving as new resistance.

However, failing to maintain above $83,000 would expose Bitcoin to further declines towards $74,500 — aligning with the lower boundary of the broader accumulation range.

For traders, confirmation is essential: a bullish engulfing or hammer candle at the demand zone could signify a turning point. Despite the current weakness, Bitcoin’s structure still supports a broader recovery as we move towards 2026, with the ABCD pattern potentially indicating the final phase of this correction before the next upward movement.

Bitcoin Hyper: The Next Evolution of BTC on Solana?

Bitcoin Hyper ($HYPER) is introducing a new phase to the Bitcoin ecosystem. While BTC remains the benchmark for security, Bitcoin Hyper adds what it has historically lacked: Solana-level speed. The outcome is rapid, low-cost smart contracts, decentralized applications, and even meme coin creation, all secured by Bitcoin.

Audited by Consult, the project prioritizes trust and scalability as adoption increases. The momentum is already significant, with the presale exceeding $27 million, and tokens priced at just $0.013265 before the next increase.

As Bitcoin activity rises and the demand for efficient BTC-based applications grows, Bitcoin Hyper emerges as the bridge connecting two of crypto’s largest ecosystems. If Bitcoin laid the groundwork, Bitcoin Hyper could enhance its speed, flexibility, and enjoyment.

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