$BTC With the rise of uncertainty this week, Bitcoin continued to fluctuate within a narrow range. It faces resistance around $105,000 and finds support at $103,000. On Thursday, the currency dropped to its daily low of $103,929 before recovering to close near the $105,000 mark.

However, despite Bitcoin's slow price movement, there has been continued demand for spot Bitcoin exchange-traded funds, albeit with varying daily flow volumes. Ongoing interest indicates an increasing belief among institutional investors that lower prices represent an opportunity rather than a hindrance.

This shows a continued long-term confidence, even amid ongoing short-term volatility.

Bitcoin traders remain optimistic despite price performance

While Bitcoin's short-term price performance remains subdued, on-chain data indicates cautious optimism. For example, the funding rates of the currency across derivatives platforms remain positive, suggesting that traders are still willing to pay to hold long positions. As of the time of writing, the funding rate of the currency is 0.0066%.