The post Bitcoin Stabilizes Near $97,000 Amid Market Rebound and ETF Inflows Despite BlackRock’s Outflows appeared on BitcoinEthereumNews.com.

On January 3rd, COINOTAG reported significant **market movements** as the US stock market opened sharply lower after a positive start. Despite the overall negative performance of the three major indexes, the **cryptocurrency market** displayed resilience, rebounding in response to renewed investor interest. Bitcoin, which dipped below $92,000 at year-end, has since stabilized and made strides towards the $97,000 mark, reflecting a **2.1% increase** in the last 24 hours. This resurgence in **market sentiment** was particularly evident as **altcoins** also showed signs of recovery. Notably, while the Bitcoin spot ETF recorded an optimistic **net inflow** of $84 million, BlackRock’s ETF experienced an unprecedented net outflow of 3,412 Bitcoins—valued at approximately $330 million—indicating a potential shift in investment strategies. Moreover, the US labor market continues to exhibit strength, as signaled by initial jobless claims that surpassed expectations. As investors recalibrate their expectations regarding Federal Reserve interest rate cuts, market analysts are keenly anticipating pivotal economic indicators, including the unemployment rate and non-farm payroll data due next week. **Market volatility** remains a concern, emphasizing the need for cautious navigation in the current financial landscape. Source: https://en.coinotag.com/breakingnews/bitcoin-stabilizes-near-97000-amid-market-rebound-and-etf-inflows-despite-blackrocks-outflows/

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Filed under: News - @ January 3, 2025 3:24 am