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Bitcoin's resilience has been demonstrated once more by the consistent inflows into spot ETFs. A record $440 million net inflow was recorded by Bitcoin spot ETFs on Dec. 10, the ninth day in a row of steady inflows. With Fidelity's FBTC ETF coming in second with $210 million daily inflow and BlackRock's IBIT ETF leading the way with $296 million daily inflow, this momentum shows that BTC still has some resources for growth.
The steady flow of institutional investments shows growing faith in Bitcoin's potential, particularly as regulations surrounding spot ETFs become more clear. The price of Bitcoin receives a lot of support from these inflows, which counteract recent market corrections and confirm the cryptocurrency's long-term upward trend.
According to a price chart, Bitcoin is consolidating close to the $97,000 mark following a brief retreat from the psychological $100,000 resistance. Interestingly, the price continues to hold above the 26 EMA, indicating strong support and a possible base for a subsequent rally.
Even though market volume has somewhat dropped, the continuous inflows imply that institutional demand might serve as a spur for a new rally. Nevertheless, there are obstacles in the way. Bitcoin has struggled to break above $100,000, which suggests that profit-taking and overly leveraged positions are putting a lot of pressure on the market to sell. Long-term buying momentum backed by institutional flows and general market confidence will be necessary for a clear breakout above this resistance.
The fundamentals of Bitcoin are still sound despite the recent resistance. Large investors are placing bets on the asset's long-term potential, as evidenced by the steady inflows into ETFs, particularly as decentralized assets gain more attention due to macroeconomic uncertainties. If the bullish momentum persists, Bitcoin may try to push toward $100,000 once more.
On the downside, the 26 EMA and high support levels at $94,000 offer a safety net that keeps the current correction under control. Clearly, Bitcoin is not finished yet, and the current patterns indicate that the leading cryptocurrency may soon reach all-time highs. In the upcoming weeks, a sustained uptrend is supported by strong on-chain activity and institutional confidence.