Bitcoin’s 16th Anniversary: 1 Billion USD in 48 Hours BTC!
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Bitcoin has struggled to break above the $100,000 support level recently, and the price action looks a bit lackluster and lacks momentum, but the market sentiment is still leaning towards the bullish side.
Bitcoin investors remain bullish
The Bitcoin supply on exchanges has decreased by 11,000 BTC in the past 48 hours, indicating that the selling pressure on the market has eased. Since the beginning of this year, cumulative purchases of Bitcoin have exceeded $1 billion. This trend shows that confidence in Bitcoin’s eventual rebound remains strong.
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Institutional investor interest in Bitcoin has also reached new highs, with net inflows into spot BTC ETFs totaling $4.63 billion in December. This figure significantly exceeds the monthly average of $2.77 billion in 2024 and fully reflects the strong interest of institutional investors in Bitcoin.
Although capital inflows were relatively large in the first half of December, even if market sentiment fell back in the second half of the month, capital inflow activities still did not decrease significantly. The continued support from institutions reflects their confidence in Bitcoin’s long-term prospects, which is expected to help Bitcoin recover and push its price higher.
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BTC Price Prediction: Waiting for a Breakout
Bitcoin is currently trading at around $96,793, remaining firmly above the $95,668 support. To break above $100,000, BTC must ensure that it does not fall below this key support level. Judging from current market signals, prices have the potential to rise.
Investor support and the continued inflow of institutional funds have brought optimistic signals to the market, indicating that Bitcoin is less likely to fall. If Bitcoin breaks through the $100,000 support, it could further push the price towards $105,000, which would mark a crucial step in Bitcoin’s recovery.
However, if it breaks below the $95,668 support, Bitcoin could drop to $93,625, which could trigger concerns among investors. If the price falls further below this support, the original bullish outlook will be invalidated and Bitcoin could fall to $89,800. Therefore, staying above key support levels is crucial to maintaining optimism in the market.
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