The cryptocurrency market valuation increased by 1.49% in 24 hours, with a trading volume of $168.88 billion and a decline of -15.21%. Currently, the cryptocurrency market value stands at $3.65 trillion. Subsequently, the price of Bitcoin broke through the $101,000 mark again.
BTC price records an increase in bullish activity!
The price of Bitcoin increased by 1.78% in 24 hours, with a trading volume of $57.854 billion. Additionally, it rose by 2.53% in the past 7 days and by 13.18% in the past 30 days.
Since mid-October, the Simple Moving Average (SMA) indicator has been supporting the Bitcoin price chart within the 1D time frame. This indicates that the buying pressure for Bitcoin in the cryptocurrency market exceeds the selling pressure.
The Moving Average Convergence Divergence (MACD) shows a steady decline within the daily time frame. As its average continues to drop, the leading cryptocurrency suggests a mixed price trend.
Bitcoin ETF weekly update
On December 13, BlackRock's 'IBIT' inflow reached $393 million, leading the pack; Fidelity's 'FBTC' inflow reached $60 million, following closely; others on the rise include Bitwise, VanEck, and ARK Invest.
On the other hand, the fund flows of Invesco, Franklin, and Valkyrie are neutral, while Grayscale's 'GBTC' has lost $105.8 million. According to the data, the net fund flow for the day was +$428.9 million.
So far, BTC ETF has recorded consecutive inflows for 12 days. Notably, the latest crypto ETF has achieved inflows for two consecutive weeks for the first time in months.
Will BTC reach $105,000 this weekend?
If bullish sentiment persists, the Bitcoin price will retest its historical high of $103,900.47. Maintaining a price above this level could push it towards the upper limit of $105,000.
Conversely, if profit-taking increases, the BTC price may retest its support level at $100,000. Moreover, if bearish sentiment intensifies, it could fall to a low of $98,000.