Bitcoin Nears $92K as Harvard Triples BTC Allocation and Key Trendline Break Looms
Bitcoin is trading near $91,990, supported by renewed institutional interest and improving short-term momentum...
Quick overview
- Bitcoin is currently trading around $91,990, bolstered by renewed institutional interest and positive short-term momentum.
- Harvard University's Bitcoin allocation surged from $117 million to nearly $443 million, indicating a shift towards hard assets amid dollar debasement risks.
- Despite mixed market signals, Bitcoin's rising open interest suggests traders are preparing for potential volatility ahead of the Federal Reserve's decision.
- Technical analysis shows Bitcoin approaching a key resistance level at $92,200, with potential for a breakout if buyers maintain momentum.
Bitcoin is trading near $91,990, supported by renewed institutional interest and improving short-term momentum. Harvard University’s latest filings show a sharp increase in its Bitcoin exposure, underscoring how large investors are continuing to shift toward hard assets amid ongoing US dollar debasement risks.
Harvard’s allocation rose from $117 million in Q2 to nearly $443 million in Q3, according to Bitwise CIO Matt Hougan. During the same period, gold ETF holdings increased from $102 million to $235 million, but Bitcoin remains the university’s clear preference. This shift highlights a broader trend: institutions are allocating to BTC at a faster pace, even as macro uncertainty persists.
Harvard Portfolio Breakdown
Harvard Management Company (HMC), overseeing a $2.1 billion endowment, now holds:
- 6.81M shares of BlackRock’s IBIT, representing 21% of the total portfolio
- 0.66M shares of SPDR Gold Shares (GLD) worth $235.1M
- Bitcoin is now the largest single position, ahead of Microsoft and Amazon
The positioning reflects rising confidence in Bitcoin’s long-term role as a store of value.
Market Flows Show Mixed Signals
Bitcoin has traded firmly over the past 24 hours, with price hovering around $91,990 after bouncing from last week’s lows. Trading volume surged nearly 50%, and derivatives markets show growing interest.
Key flow data:
- Spot Bitcoin ETF outflows: $87.77M
- IBIT outflows: $48.99M
- BTC futures open interest: +2.57% on CME, +2% on Binance
Despite ETF outflows, rising open interest suggests traders are positioning for volatility ahead of the Federal Reserve’s upcoming decision.
BTC/USD Technical Analysis
Bitcoin is approaching a major descending trendline near $92,200, which has capped every rally since mid-November. Recent 2H candles show stronger bodies and higher lows, supported by a clean move above the 200-EMA, while the 50-EMA begins to flatten.
A breakout above $92,200 would expose $94,003, followed by stronger resistance at $96,557.
On the downside:
- Immediate support: $90,162
- Secondary support: $87,730
- Next level lower: $84,507
The RSI is climbing toward 60, signaling improving bullish momentum that isn’t overstretched. If buyers hold above $92K, Bitcoin could attempt a broader trend reversal. Failure to clear the trendline keeps the pair inside the larger downward structure.
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