bullish

Bitcoin

Million

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/billionaire-ray-dalio-prefers-bitcoin-over-bonds" rel="noopener noreferrer nofollow">Bitcoin</a>'s resilience has been demonstrated once more by the consistent inflows into spot ETFs. A record $440 million net inflow was recorded by Bitcoin spot ETFs on Dec. 10, the ninth day in a row of steady inflows. With Fidelity's FBTC ETF coming in second with $210 million daily inflow and BlackRock's IBIT ETF leading the way with $296 million daily inflow, this momentum shows that BTC still has some resources for <a href="https://x.com/WuBlockchain/status/1866709323675734276" rel="noopener noreferrer nofollow">growth</a>.
The steady flow of institutional investments shows growing faith in Bitcoin's potential, particularly as regulations surrounding spot ETFs become more clear. The price of Bitcoin receives a lot of support from these inflows, which counteract recent market corrections and confirm the cryptocurrency's long-term upward trend. <img src="https://u.today/sites/default/files/inline-images/image_1534.png" data-entity-uuid="7b84e7ec-a377-418f-9867-830d44d024d8" data-entity-type="file" alt="BTCUSDT" data-caption="<a href=&quot;https://www.tradingview.com/&quot;>BTC/USDT Chart by TradingView</a>">
According to a price chart, <a href="https://u.today/bitcoin-btc-100000-not-forgotten-dogecoin-doge-loses-it-shiba-inus-shib-catastrophic-drop-whats" rel="noopener noreferrer nofollow">Bitcoin</a> is consolidating close to the $97,000 mark following a brief retreat from the psychological $100,000 resistance. Interestingly, the price continues to hold above the 26 EMA, indicating strong support and a possible base for a subsequent rally.
Even though market volume has somewhat dropped, the continuous inflows imply that institutional demand might serve as a spur for a new rally. Nevertheless, there are obstacles in the way. Bitcoin has struggled to break above $100,000, which suggests that profit-taking and overly leveraged positions are putting a lot of pressure on the market to sell. Long-term buying momentum backed by institutional flows and general market confidence will be necessary for a clear breakout above this resistance.
The fundamentals of <a href="https://u.today/bitwise-reveals-2025-price-targets-for-bitcoin-and-ethereum" rel="noopener noreferrer nofollow">Bitcoin</a> are still sound despite the recent resistance. Large investors are placing bets on the asset's long-term potential, as evidenced by the steady inflows into ETFs, particularly as decentralized assets gain more attention due to macroeconomic uncertainties. If the bullish momentum persists, Bitcoin may try to push toward $100,000 once more.
On the downside, the 26 EMA and high support levels at $94,000 offer a safety net that keeps the current correction under control. Clearly, Bitcoin is not finished yet, and the current patterns indicate that the leading cryptocurrency may soon reach all-time highs. In the upcoming weeks, a sustained uptrend is supported by strong on-chain activity and institutional confidence. <a href="https://u.today/440-million-in-nine-days-bitcoin-not-done" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

$440 Million in Nine Days: Bitcoin Not Done

U_Today

Other articles published on Dec 11, 2024

Holiday crypto rally: These 5 altcoins could deliver a Christmas miracle with 12,000% gains

XRP News Today: Ripple’s RLUSD Stablecoin Gets NYDFS Approval, Triggers Rally

Ethereum and Solana Beware: Is a New Blockchain Revolution About to Unfold?

MicroStrategy Acquires Additional $1.5B Bitcoin, Expands Holdings to 402,100

Cloud Mining: Personal Experience on How To Accumulate Wealth Quickly With “ BCH Miner ”

Which Coins Competing With Dogecoin And Shiba Inu Should Investors Buy If They'd Like To Turn $50...

Join our free newsletter for daily crypto updates!