Bitcoin is having trouble reclaiming the key $100,000 support level, reflecting the lack of momentum in recent price action.
However, investor sentiment remains positive, thanks to continued support from large institutions and Bitcoin’s important 16-year-old milestone.
Bitcoin investors remain bullish
In the past 48 hours, the BTC balance on exchanges has decreased by 11,000, indicating that selling pressure is weakening. From the beginning of the year to now, a cumulative increase of $1 billion has been made. Despite the lack of price fluctuations, investors are still buying BTC, reflecting their confidence in future price increases.
Institutional interest in BTC reached a new high, with net inflows into spot Bitcoin ETFs reaching $463 million in December, far higher than the monthly average of $277 million in 2024, highlighting the growing demand from institutional investors.
Although most inflows occurred in early December, adverse market conditions in late December did not significantly weaken investment activity. Continued institutional support reflects a long-term perspective and could help Bitcoin recover and drive prices higher.
Bitcoin Price Prediction: Looking for a Breakout Point
Currently, BTC is trading at $96,793, holding above the $95,668 support level. To fight back to the $100,000 mark, BTC needs to stop falling below this important support level. The current market signals show the possibility of an upward price trend.
Positive signals from investor support and institutional inflows suggest that a sharp decline is less likely. If BTC can turn $100,000 into support, this could pave the way for a rise to $105,000, marking an important step in the recovery process.
However, if the $95,668 support level is lost, the BTC price could slide to $93,625, worrying investors. A further break below this level would negate the prospect of price gains, potentially pushing BTC to $89,800. Maintaining key support levels is key to maintaining market optimism.
Disclaimer: This article is for reference only and does not constitute investment advice. Investors should conduct sufficient research and analysis and make their own investment decisions.