The post Bitcoin Shows Resilience Above $96,000 Amid ETF Inflows and Emerging Crypto Opportunities appeared on BitcoinEthereumNews.com.

Bitcoin’s price remains resilient above $96,000, signaling a consolidation phase as institutional interest resurges in the cryptocurrency space. Recent ETF inflows indicate growing confidence among investors, even amidst the cryptocurrency’s struggle to regain the $100,000 mark. According to BRN lead analyst Valentin Fourner, “The ETF inflows highlight robust institutional support, particularly as macroeconomic conditions improve.” Bitcoin holds steady above $96,000 while institutional ETF inflows signal renewed confidence, despite challenges in the crypto market. Bitcoin Maintains Strong Support Above $96,000 Amid Market Developments As of Friday, Bitcoin is trading just above the $96,000 threshold, demonstrating stability after a recent correction from its all-time high. The recent fluctuations indicate that the largest cryptocurrency by market capitalization remains in a consolidation phase. Following a peak exceeding $108,000 in mid-December, analysts are observing how Bitcoin adjusts to current market dynamics. Institutional Interest on the Rise with ETF Flows Thursday witnessed significant activity in the market, particularly concerning Bitcoin exchange-traded funds (ETFs), which recorded an impressive $475 million in inflows. This marks a reversal from a four-day streak of outflows leading up to Christmas Day. Ethereum ETFs also enjoyed positive momentum, gaining $89 million in inflows during the same period. Macroeconomic Conditions Favor Risk Assets The recent inflation data indicates a favorable shift for cryptocurrencies. U.S. core PCE data released show inflation slowing considerably, with increases of just 0.1% month-over-month and 2.8% year-over-year, both slightly below consensus projections. These trends are critical for potential investments in risk assets like Bitcoin. According to analysts, this macroeconomic backdrop encourages institutional support, creating a more robust environment for digital assets. Alternative Investments Gaining Popularity Amid Bitcoin’s price corrections, investors have increasingly turned their attention toward alternative crypto assets. Notably, solutions centered around AI-driven investment platforms and decentralized finance (DeFi) are gaining traction. Bitget’s chief analyst, Ryan Lee, highlights…

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Filed under: News - @ December 27, 2024 4:28 pm