Bitcoin prices are moving back towards the $100,000 mark, fueled by market optimism and significant inflows into BTC ETFs.
Current Bitcoin Price
At the time of writing, Bitcoin is trading above $96,000, having increased by over 1% in the last 24 hours. There was a dip to $93,000 on December 3, followed by a recovery. Institutional interest in Bitcoin and related products remains strong, as indicated by U.S. ETFs.
BTC ETF Inflows
This week, U.S. BTC ETFs reported inflows of over $1 billion. On December 3, nearly $676 million were added, followed by $363.6 million on Monday. According to SoSoValue, total assets in ETFs are over $104 billion, and cumulative inflows since January are nearing $32 billion.
FOMC Rate Cut Expectations
The next FOMC meeting is due in two weeks. CME Group data shows a 73.8% likelihood of a 25 bps rate cut and a 26.2% chance of a 50 bps cut. Interest rate changes have historically impacted Bitcoin's price.
Bitcoin price maintains its upward trend amidst expectations for crypto-friendly policies and substantial ETF inflows.
