Bitcoin is celebrating its 16th year, and has seen renewed investor confidence although it’s struggling to break past the $100,000 mark. Over the past two days, investors have accumulated $1 billion worth of BTC, signaling strong market optimism.
Institutional interest in Bitcoin has also grown. Spot Bitcoin ETFs recorded net inflows of $4.63 billion in December, well above the monthly average of $2.77 billion for 2024. These numbers underline increasing trust in Bitcoin from institutional players, even during periods of market uncertainty.
Bitcoin is currently changing hands at $96,793, having held support at $95,668. Analysts note that retention of this level is key to any upside. If Bitcoin successfully reclaims $100,000 as support, then the next target will be $105,000.
However, risks remain. A fall below $95,668 could send Bitcoin to $93,625, with a further decline potentially reaching $89,800. Investors are closely watching these levels to gauge market sentiment.
As Bitcoin marks this milestone year, the mix of bullish investor activity and growing institutional adoption suggests a positive outlook. The coming days will reveal whether this momentum can drive Bitcoin back into six-figure territory.
