Bitcoin prices rise: Are BTC ETF inflows setting up a $100K move?
Bitcoin has started the week bullishly, breaking and holding above $90,000, signaling stronger demand and improved stability. The Short-Term Holder Net Unrealized Profit/Loss (STH NUPL) is approaching zero, indicating that most short-term holders are near breakeven around $93,450. A decisive break above the $99,000 breakeven level could confirm a bullish continuation toward $100,000.
Institutional and retail investors are returning to accumulation. U.S. spot Bitcoin ETFs saw significant net inflows of $452.4 million over two days, reversing previous sell-offs. Additionally, over $480 million worth of BTC was withdrawn from exchanges into private wallets, reducing available sell pressure.
Globally, rising M2 money supply supports risk assets like Bitcoin, though the impact may take months to materialize. Improved short-term holder sentiment, renewed institutional interest, and favorable macro conditions strengthen the case for further upside in the near to medium term.
ambcrypto01/07 16:02