The cryptocurrency market has added 1.49% to its valuation in the last 24 hours, with Bitcoin reaching $101,000. Let's explore market sentiment and potential targets for Bitcoin over the weekend.
BTC Price Increase
Bitcoin has added 1.78% to its valuation within 24 hours, with a trading volume of $57.854 billion. Over the past seven days, the cryptocurrency has surged by 2.53% and by 13.18% in the past 30 days. Since mid-October, the Simple Moving Average (SMA) has consistently supported Bitcoin's price chart on the daily timeframe, indicating increased buying pressure. The MACD indicator shows a decline over the daily timeframe, suggesting mixed price action.
Bitcoin ETF Weekly Update
On December 13, BlackRock's 'IBIT' led the inflow with $393 million, followed by Fidelity's 'FBTC' with $60 million. Other gainers included Bitwise, VanEck, and ARK Invest. Invesco, Franklin, and Valkyrie recorded a neutral flow, while Grayscale's 'GBTC' lost $105.8 million. The net flow for the day concluded at +$428.9 million, marking the 12th consecutive day of inflow for the BTC ETF.
Weekend BTC Forecast
If bullish sentiment holds, Bitcoin may retest its all-time high of $103,900.47. Holding above this level could drive its price toward an upper high of $105,000. However, if selling pressure increases, Bitcoin could retest its support level of $100,000, and if bearish sentiment intensifies, it may drop to $98,000.
The cryptocurrency market's growth instills optimism among investors. The market situation promises an interesting weekend for Bitcoin with potential new highs in sight.
