Bitcoin Nears $95K Amid ETF Inflows
Bitcoin (BTC) is currently trading near $94,729, reflecting a slight decrease of 0.22% from the previous close. This price movement comes amid significant institutional interest, as evidenced by substantial inflows into Bitcoin exchange-traded funds (ETFs). Notably, BlackRock's Bitcoin ETF received a daily investment of $216.7 million, while Invesco's ETF reported zero net inflows on the same day.
The sustained ETF inflows have bolstered Bitcoin's price, which has seen a strong 10% rally over the past week. Currently, Bitcoin is consolidating around the $95,000 level, with analysts identifying $97,530 as a critical resistance point. A breakout above this level could signal a shift from consolidation to a surge, potentially leading to new all-time highs.
Market participants are also closely monitoring upcoming events that could influence Bitcoin's trajectory. These include MicroStrategy's Q1 earnings release and the approaching deadline for the Strategic Bitcoin Reserve, both of which could impact investor sentiment and market dynamics. As Bitcoin navigates these developments, its performance will likely continue to be influenced by institutional investment trends and macroeconomic factors.
