#Bitcoin ETF Flows Hit 6-Week High as#BitcoinReclaims $97K#Bitcoinappears to be in a very different mood as the first trading week on Wall Street comes to a close, but Bitcoin’s price action still needs to convince cautious traders.
#Bitcoinheld $97,000 on January 4 as the first trading week on Wall Street in 2025 reclaimed key support.
Bitcoin failed to push traders into a short-term bullish trend.
After a rally that began on New Year’s Eve, Bitcoin has reclaimed its 50-day simple moving average (SMA) — a level that traders have previously described as essential for the bull market to continue.
“$BTC
closes strong and maintains momentum from here,” popular trader Skew said in his latest X post on January 3.
Despite the recent advance, many remain cautious about Bitcoin price action, even adopting a bearish outlook for January.
“Unless we break $99k and flip it to support, I think we’ll see lower prices in January,” fellow trader Scient# told X Followers.
“Very simple triggers for me here: a break and sell off of $99k or a retest of the $90-88k area.