CandleFocus Bitcoin Aims for $98,378 Breakout as ETF Inflows Hit $439M
2024-12-11
Author: Content Editor
Bitcoin is experiencing a recovery supported by institutional demand, leading to speculation about a potential surge to a new all-time high. Despite a recent market correction, the price of Bitcoin has remained steady at key support levels. Technical indicators suggest the possibility of an extended rally to offset recent declines. Open interest in Bitcoin has decreased, but options open interest has increased. Institutional demand for Bitcoin remains strong, with daily net inflow for US BTC spot ETFs reaching $439.56 million on December 10. As long as institutional support continues to rise, minor corrections may disrupt the bull run temporarily, but a breakout above key resistance levels could result in a new all-time high for Bitcoin.
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