Bitcoin News: Bitcoin Price Nears $97K Amid ETF Inflows and Trade War Fears — Is $100K Next or Just a Mirage?
Bitcoin hovers near $97K, but derivatives data shows traders remain cautious
Bitcoin (BTC) price surged to $97,838 on May 3, marking its highest level in 10 weeks, fueled by strong institutional demand and over $3.6 billion in net inflows into U.S.-listed spot Bitcoin ETFs. At the time of writing, Bitcoin trades at $96,362, up slightly despite heightened macroeconomic uncertainties.
Despite the rally, derivatives market data reveals that futures traders are holding back on leveraged bullish positions. Analysts suggest that concerns over global trade tensions and a possible economic downturn are tempering expectations of a clean breakout toward the psychological $100,000 mark.
