Looking back at yesterday's market, Bitcoin once again attempted to hit the 100,000 mark during the European session last night but was thwarted, with prices fluctuating in the range of 98,500-99,600. The trades entered yesterday are now in small profit; there is no need to rush to exit. Bitcoin's current resistance indicates that, compared to a thousand-point pullback, there is no depth to speak of. Early yesterday morning, Tether issued another 1 billion USDT, and the recent continuous issuance has become a historically significant number, indicating that institutions are also going crazy at this stage.
Looking at the funding side, the Bitcoin spot ETF market has continued to see inflows this week. According to the latest data from SoSoValue, the cryptocurrency market is experiencing positive capital inflows, with Bitcoin spot ETFs achieving net inflows for five consecutive days. Yesterday, the total net inflow reached 490 million USD, successfully achieving a weekly net inflow of 3.38 billion USD. In this trend, BlackRock's IBIT ETF led with a single-day net inflow of 513 million USD, a weekly net inflow of 2.05 billion USD, and a historical total net inflow of 31.33 billion USD. Fidelity's FBTC ETF also performed well, with a single-day net inflow of 21.71 million USD, a weekly net inflow of nearly 773 million USD, and a cumulative net inflow of 11.54 billion USD. As of now, the total net asset value of Bitcoin spot ETFs is 107.49 billion USD, accounting for 5.48% of Bitcoin's market value, with a historical cumulative net inflow of 30.84 billion USD. In the short term, the continuous entry of institutions has sent a clear signal to the market, which everyone can understand as clear-eyed individuals. Although BTC's breakthrough of the 100,000 mark is not smooth sailing, demand seems endless. In other words, BTC cannot pull back; large funds are bottom-fishing, especially under the current trend, there are no signs of shorts at all. Even the bearish news is silent. Various signs indicate that the bull market is walking steadily on the big road!
According to informed sources, the Trump team is discussing whether to establish a new position at the White House specifically responsible for cryptocurrency policy within the digital asset industry. The Trump team is reviewing candidates for this role. If this new position is indeed established, it will be the first-ever dedicated cryptocurrency position in the White House's history and will highlight the influence of the emerging cryptocurrency industry in the incoming government. Discussions about this position include leading a small team and serving as a liaison among various regulatory bodies with jurisdiction over cryptocurrencies, including Congress, the White House, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission (CFTC). Meanwhile, according to the Financial Times, Trump’s social media company, Trump Media & Technology Group, is in advanced negotiations to acquire the cryptocurrency trading platform Bakkt. In the long term, there is a very high chance that Trump will incorporate BTC into the national strategic reserve fund; we can only speculate about how high BTC will reach when the national-level layout of the U.S. is in place. I want to tell everyone that a historic moment may really be approaching!
I summarize that, whether in the short-term or long-term direction, the signals seen and heard are undoubtedly unprecedentedly positive. Recall your experiences in the cryptocurrency space; have you ever encountered such signals? I emphasize again that trends are irreversible, and bull markets do not signal tops! At this stage, BTC has no high points, only low points! A pullback is an opportunity to get on board. I am also operating this way; the rest will let time provide the answer. Returning to the current situation, BTC is currently priced at 98,513. Today, it is essential to focus on the contest for the 98,500 mark. If it holds steady at the 4-hour level, it indicates that bullish momentum still dominates, and we will then focus on the resistance level of 99,600 above. Conversely, if the 4-hour closing drops below 98,500, it indicates a 4-hour level pullback, with support observed near 97,660/96,300.
BTC Strategy: Lightly bullish above 98,400, pay attention to the battle for 98,500 during today’s Asian session. If it stabilizes, accumulate more. The first take-profit level is 99,600-99,700, and the second take-profit level is in the range of 100,000-100,500, holding for a mid-term target of 102,500. If the 4-hour closing breaks below 98,500, accumulate more at 97,700-98,000, with the same take-profit points as above.
