Bitcoin is struggling to recover its support at $100,000, reflecting a lack of momentum in recent price movements.
Nevertheless, investor sentiment remains positive. The growing institutional support for Bitcoin and the symbolic milestone of its 16th anniversary are boosting confidence.
Bitcoin investors expect a bull market
The supply of Bitcoin on exchanges has decreased by 11,000 BTC in the last 48 hours, indicating a reduction in selling pressure. The accumulation has reached $1 billion since the beginning of the year, and investors continue to buy BTC even as the price remains stagnant. This trend shows the confidence of Bitcoin holders that the price will eventually rise.
The institutional interest in Bitcoin has reached a new all-time high. In December, the net inflow into physical BTC ETFs amounted to $4.63 billion, significantly exceeding the 2024 monthly average of $2.77 billion, highlighting the growing interest of institutional investors in Bitcoin.
While most of the inflows occurred in the first half of December, the bearish conditions in the second half did not significantly reduce the activity. The sustained institutional support reflects a long-term outlook that Bitcoin can recover and drive prices higher.
BTC price forecast: Finding a breakthrough
Bitcoin is currently trading at $96,793 and is above the $95,668 support level. To recover the $100,000 level, it needs to prevent a decline below this critical threshold. The current market signals suggest an upward potential.
The positive signals from investor support and institutional inflows indicate a low likelihood of a downward move. If Bitcoin can establish $100,000 as a support level, it could rise to $105,000, which would represent an important step in the recovery.
However, if the $95,668 support level is lost, it could push BTC down to $93,625, which could raise concerns among investors. Further declines below this level could invalidate the positive outlook and send Bitcoin to $89,800. Maintaining the key levels is crucial for sustaining market optimism.
