š„ $BTC ETF Inflows Surge, Bulls Eye Key Levels! š
The crypto market is buzzing as $BTC saw a significant net inflow of $375.1 million into Bitcoin ETF products on June 3rd, with major players ARKB and FBTC leading the charge. This influx of institutional capital signals growing confidence and could provide strong support for Bitcoin's price. Currently, $BTC is trading around $105,000-$106,000, a critical resistance zone.
š Trading Outlook:
š Potential long if $BTC decisively breaks and holds above $107,000. A sustained move above this level, especially with continued ETF inflows, could see a push towards the $110,800 resistance, and potentially higher towards $120,000 as some analysts predict. This trade could be considered with leverage given the strong bullish indicators.
š Short setup only if $BTC breaks below the critical support level of $101,500, and particularly if it closes below $100,000 on significant volume. Such a breakdown could trigger further selling pressure, potentially pushing the price towards the $93,000 area. This trade might also be considered with leverage due to the potential for a sharp downside move.
š§ Market Sentiment:
The overall sentiment is cautiously optimistic, with the Fear & Greed Index in "Greed" territory. Whale accumulation has been noted, with significant BTC purchases by large holders in recent weeks, historically a bullish sign. However, some analysts urge caution, highlighting $110,800 as a key battleground for bulls and bears. Mixed signals are also coming from some technical indicators, suggesting the market is at an inflection point. Recent significant price swings highlight the market's current volatility.
ā ļø NFA/DYOR.
