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Can BTC price recover and surpass $100,000 this week?
Bitcoin is steadily approaching the $100,000 milestone as the cryptocurrency market turns bullish in January 2025. Bitcoin surged 1.42% in the past 24 hours to maintain its dominance above $96,000.
However, this gradual growth has not been met with significant institutional support from the ETF market. With BlackRock seeing its largest ever outflow, will Bitcoin price continue its upward momentum?
In the 4-hour chart, BTC price trend shows a bullish breakout of the local resistance trendline. With the reversal after the retest, BTC price bullishly recovered at the $96,000 level, marking its third consecutive up day.
BlackRock sees outflows as other Bitcoin ETFs recover
Despite the bullish trend in the market, institutional support for Bitcoin continues to weaken. This has led to a net outflow of $242.3 million on a daily basis. Notably, the negative flow of the largest Bitcoin ETF BlackRock on Thursday was its largest outflow ever.
Bitcoin’s bulls may target the $99,455 pressure level. A breakthrough could significantly increase Bitcoin's chances of retaking the $100,000 mark in January 2025.
Follow me and I'll take you to learn more about the cryptocurrency world.
Bitcoin is steadily approaching the $100,000 milestone as the cryptocurrency market turns bullish in January 2025. Bitcoin surged 1.42% in the past 24 hours to maintain its dominance above $96,000.
However, this gradual growth has not been met with significant institutional support from the ETF market. With BlackRock seeing its largest ever outflow, will Bitcoin price continue its upward momentum?
In the 4-hour chart, BTC price trend shows a bullish breakout of the local resistance trendline. With the reversal after the retest, BTC price bullishly recovered at the $96,000 level, marking its third consecutive up day.
BlackRock sees outflows as other Bitcoin ETFs recover
Despite the bullish trend in the market, institutional support for Bitcoin continues to weaken. This has led to a net outflow of $242.3 million on a daily basis. Notably, the negative flow of the largest Bitcoin ETF BlackRock on Thursday was its largest outflow ever.
Bitcoin’s bulls may target the $99,455 pressure level. A breakthrough could significantly increase Bitcoin's chances of retaking the $100,000 mark in January 2025.
Follow me and I'll take you to learn more about the cryptocurrency world.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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