Bitcoin Updates: Institutions Show Trust While Market Worries About Correction as Bitcoin Approaches $100K Support Level
- Bitcoin tests $100K support amid mixed signals as analysts debate trend resilience amid ETF inflow-outflow swings. - Spot trading volume rose to $14.1B but RSI at 44 suggests waning momentum, raising pullback risks. - Institutional bulls cite 72% BTC supply in profit and long-term gold parity forecasts despite immediate correction fears. - Critical juncture ahead: $106.5K breakout could reignite bull run, while $100K breakdown risks prolonged downturn.
The recent movements in Bitcoin's price have reignited discussions about the strength of its two-year upward trend, as the digital asset lingers near significant support thresholds. After challenging resistance close to $106,500,
Part of Bitcoin's recent rebound can be attributed to a slight uptick in investments into US-based spot ETFs. According to SoSoValue, there was a
Bitfinex market strategists
Optimism for the long-term remains, especially among institutional players.
Bitcoin is now at a pivotal point. A strong close above $106,500 could revive its upward momentum, while a prolonged dip below $100,000 may lead to further declines. Experts stress that a resurgence in institutional buying and greater macroeconomic certainty will be crucial in determining whether this period of consolidation results in a renewed bull run or a more extended downturn.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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