Bitcoin has been struggling to maintain $100,000 as a support floor, but investor sentiment remains bullish due to growing institutional support and the cryptocurrency's symbolic milestone of turning 16 years old. Despite stagnant price movements, the supply of Bitcoin on exchanges has decreased, indicating reduced selling pressure and highlighting the confidence of holders in an eventual rally. Institutional interest in Bitcoin has reached new highs, with significant net flows into spot BTC ETFs in December, showcasing the increasing appetite among institutional investors. While there were bearish conditions in the latter half of December, institutions' continued support suggests a long-term outlook that could help Bitcoin recover and drive its price higher. Bitcoin is currently trading above a support level of $95,668 and has the possibility of an upward movement to reclaim $100,000 and potentially rise to $105,000. However, losing the support level could result in a decline to $93,625 or even $89,800, which would invalidate the bullish outlook. Holding key levels is crucial for sustaining market optimism.



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