CandleFocus Bitcoin Now At $98,611: Will $100K Be the Next Stop?
2025-02-21
Author: Content Editor
Bitcoin has surpassed $98,000 and is approaching the $100,000 mark. It faces resistance at the 50% Fibonacci level and a descending trendline, causing a short-term pullback. However, the Chaikin Money Flow Index has shifted from negative to positive, indicating increasing inflows. The rise in open interest in the leverage market suggests anticipation for high volatility. US Bitcoin spot ETFs saw a net outflow, but the overall trend remains positive. A breakout rally could push Bitcoin to $100,000 and potentially reach a new all-time high at $112,058. Key support levels are at $96,703 and $97,000.
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