According to Bijie.com, Bitcoin reached $102,180 at the close of trading on January 6, after a round of positive ETF inflows worth $978.6 million. However, the price dropped sharply on January 7 as traders expected Bitcoin to retest the $100,000 level. Despite Bitcoin’s short-term pullback, significant investor activity was observed on major exchanges, demonstrating the market’s bullish urgency. Burak Kesmeci, a certified analyst at CryptoQuant, noted that the 14-day simple moving average (SMA14) tracking Binance’s net flows has turned negative. As shown in the chart, whenever SMA14 turns negative, Bitcoin typically exhibits a bullish move on the chart. Additionally, Bitcoin outflows on Binance reached 5,407 BTC, the highest value in the past month. Relatedly, the analyst said: “Both indicators confirm that investor behavior on Binance is tilted towards accumulation. This trend strongly supports the possibility of Bitcoin price rising in the short term.”

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