$BTC

Bitcoin above $94,000: institutional inflows and anticipation for the Fed support the price

Bitcoin continues to consolidate above the $94,000 mark, supported by positive signals from institutional investors. BlackRock has increased its holdings through its iShares Bitcoin Trust ETF, purchasing over 41,000 BTC in just a few days. On-chain movements also indicate significant activity: a whale moved 1,000 BTC purchased 11 years ago, now valued at around $100 million.

On the forecast front, former Binance CEO, CZ, stated that BTC could reach between $500,000 and $1 million in this bullish cycle. Meanwhile, technical analysts are observing significant resistance in the $99,900 area, while support is consolidating around $94,000.

The market is cautiously awaiting the Fed's decision scheduled for tomorrow, which could influence overall sentiment. No rate cuts are expected, but Powell's words could impact short-term volatility.