Price Stable at US$97,000, Bitcoin ETF Flows Rise to Six-Week High

Bitcoin (BTC) showed positive movement after successfully maintaining a price of US$97,000 on January 4, 2025. This marked a significant recovery in the first week of Wall Street trading this year, supported by the highest inflow of Bitcoin ETFs in the last 6 weeks reaching US$908 million.

According to data from TradingView, Bitcoin has recorded an increase of 6% since the beginning of the year. By successfully surpassing the *simple moving average* (SMA), simple moving average, 50 days.

Many analysts consider this an important signal to continue the *bullish* market trend. However, some analysts remain skeptical. Meanwhile, the massive inflow into Bitcoin ETFs shows increasing confidence from institutional investors.

For example, the Fidelity Wise Origin Bitcoin Fund (FBTC) recorded the largest inflow of US$357 million, while the iShares Bitcoin Trust (IBIT) received US$253 million. Recovery was also seen in the Coinbase Premium Index, which showed Bitcoin prices on Coinbase were again stronger than Binance.