Bitcoin spot ETFs have experienced consistent inflows, resulting in a record $440 million net inflow on December 10th. Fidelity's FBTC ETF and BlackRock's IBIT ETF also saw significant daily inflows, indicating growing faith in Bitcoin's potential. These institutional investments provide support for the crypto's price and counter recent market corrections, suggesting a long-term upward trend. While the market volume has dropped, the continuous inflows may spur a new rally, although breaking above the $100,000 resistance has been challenging due to profit-taking and leveraged positions. Despite these obstacles, the fundamentals of Bitcoin remain strong, with institutional flows and market confidence contributing to potential all-time highs. The 26 EMA and support levels at $94,000 offer a safety net for the current correction, while on-chain activity and institutional confidence support a sustained uptrend in the coming weeks.
- Content Editor ( u.today )
- 2024-12-11
$440 Million in Nine Days: Bitcoin Not Done