Bitcoin Nears $100K Amid Institutional & Macro Catalysts
Price Action $Bitcoin surged to $97,500 today, driven by renewed optimism around US-China trade talks and institutional accumulation. It briefly touched $97,938 earlier this week before consolidating, with resistance at $98,000 acting as a key hurdle.
Institutional Moves: Wall Street giants like Tower Research and Citadel Securities are expanding crypto market-making infrastructure, signaling confidence in regulatory clarity under the Trump administration .
ETF Inflows: Spot Bitcoin ETFs saw $2 billion in inflows last week, led by BlackRock’s IBIT ($530 million on May 6). However, Invesco’s ETF recorded $0 net inflows today, reflecting short-term caution.
