Bitcoin rallies as spot ETF inflows soar, but $105K looks out of reach

💡 DMK Insight

Bitcoin’s recent inflows into spot ETFs are reigniting bullish sentiment, but skepticism remains about reaching $105,000. The renewed strength in Bitcoin is largely driven by institutional interest, as evidenced by the uptick in ETF inflows. This could signal a shift in market dynamics, potentially attracting more retail investors. However, the $105,000 target raises eyebrows; traders should consider the historical resistance levels and the overall market sentiment. If Bitcoin can maintain momentum above key support levels, we might see a challenge to this price point. But with macroeconomic factors like interest rates and inflation still in play, caution is warranted. On the flip side, if the bulls fail to sustain this momentum, we could see a pullback that tests lower support levels. Watch for Bitcoin’s performance around the $90,000 mark; a break below could trigger selling pressure. Keep an eye on ETF inflow trends and broader market sentiment to gauge potential price movements.