The post Will Bitcoin hit $100K before December ends? Assessing… appeared on BitcoinEthereumNews.com.

Bitcoin could be building up for a bullish move as ETFs and large holders maintain positive flows. Market sentiment continues sliding away from greed, but sell pressure remains relatively weak. Bitcoin [BTC] has been demonstrating a lot of sideways activity in the last few days. This is a classic scenario underpinning directional uncertainty as traders ponder on whether it is time for a major retracement, or perhaps whether BTC could push above $100,000 before the end of December. A lot could happen before the end of December, but the latest Bitcoin activity may offer insights on what to expect this week. BTC was off to a bearish start this week, with price dipping to a $94,816 press time level.  3.44% dip in the last two days. Despite the slight dip, Bitcoin ETFs kicked off this week with net positive flows. Bitcoin ETF inflows were recorded at $353.6 million on Monday. While this was relatively low compared to peak days, it was slightly higher than the positive flows recorded on Friday ($320 million). The Positive ETF flows were also backed by another significant observation, underscoring potential buying pressure build-up. Data from IntoTheBlock revealed that large holder flows grew from 102.4 BTC to 4,670 BTC between the 1st and the 2nd of December. This was after previously declining by a substantial margin from the 28th of November. Source: IntoTheBlock In contrast, large holder outflows grew from 560 BTC on the 1st of December to 1,620 BTC on the 2nd of December. Notably, less than half of the BTC inflows observed during the same period. Is Bitcoin demand building up for another major rally? The Bitcoin ETF inflows and large holder inflows could signal that demand is recovering gradually. However, prevailing demand was relatively weak and may explain why it was not matched…

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Filed under: News - @ December 4, 2024 6:20 am