Bitcoin is encountering resistance at crucial Fibonacci levels, with its price struggling near $86,700. Despite this, Texas' recent $5 million Bitcoin acquisition highlights ongoing institutional interest. Futures open interest remains robust at $59.23 billion, reflecting trader confidence even as spot outflows persist. Key resistance levels are identified at $91,492, $98,151, and $103,534, while support is noted at $86,700 and $80,728. A breakout above $98,151 could indicate a shift towards stronger bullish momentum.