The Bitcoin ETF has maintained inflow momentum for 11 consecutive days. This keeps the price of the largest cryptocurrency, Bitcoin, around $100,000. This further suggests that BTC tokens may reach new all-time highs this year.
BTC price stabilizes around $100,000!
Despite a roughly 1% drop in Bitcoin's trading volume over the past 24 hours, reaching $68.26 billion, its price still hovers near the milestone price of $100,000. However, the dominance of this cryptocurrency has now dropped to 54.98%.
Since November, the Simple Moving Average (SMA) has supported the Bitcoin price chart, highlighting the market's long-term bullish sentiment towards the largest cryptocurrency.
The Relative Strength Index (RSI) recorded an increase in price volatility, with its average trend line showing a continuous downward trend. This indicates that BTC price fluctuated this week.
Bitcoin ETF Update
In the past 24 hours, BlackRock's 'IBIT' saw the highest inflow at $431.6 million, followed by Grayscale's 'BTC' with inflows of $110.8 million. During this period, 4 out of 11 BTC ETFs recorded neutral inflows, with only Grayscale's 'GBTC' losing $48.4 million.
As of December 12, the total inflow for Bitcoin ETFs is +$597.5 million. Additionally, the largest cryptocurrency ETF has maintained positive inflows for 11 consecutive days for the first time in months.
Will BTC price break through $110,000 next?
Maintaining a value above $100,000 may set the foundation for Bitcoin to retest $102,000. Furthermore, if bullish sentiment intensifies, BTC prices may head towards historic highs.
Conversely, bearish price action may pull prices down to $98,000. Furthermore, if bulls fail to regain momentum at that point, it may pull BTC prices down to the $95,000 range.#BTC重回关键位置后走势
