At the start of 2025, the spot price of Bitcoin in USD reached 98,209, with ETF funds initially weakening before strongly rebounding to 900 million USD. Fidelity's FBTC ETF performed notably, accumulating 3,640 BTC.

The flow of ETF funds has clearly shifted, with outflows in the earlier period. On Friday, nearly 900 million USD flowed into U.S. Bitcoin ETFs, with Fidelity's FBTC attracting 357 million USD, BlackRock's IBIT receiving 252 million USD, and Ark Invest's ARKB gaining 222 million USD. Since the beginning of the year, the net inflow into spot Bitcoin ETFs is approximately 700 million USD.

On-chain indicators show Bitcoin strength, with over 48,000 BTC (valued at 4.5 billion USD) being withdrawn from exchanges in the past week. The Coinbase premium index initially dropped to its lowest in two years at -0.23% before quickly rebounding, indicating renewed demand from U.S. institutional investors.

The Bitcoin community looks forward to Donald Trump's inauguration on January 20, with investors believing that Bitcoin will fluctuate before breaking 100,000 USD. Some analysts predict that this year's price could reach between 175,000 and 350,000 USD. Currently, the price of BTC is around 98,000 USD, up 1.25%, with trading volume down 13%, and the 24-hour liquidation amount rising to 53 million USD, while short liquidations exceed 33 million USD. The increase in Bitcoin ETF flows and on-chain indicators suggest a market recovery.

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