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Bitcoin’s recent plunge has sparked concerns about the possibility of a prolonged bearish phase. However, despite the significant losses, the underlying fundamentals remain strong. The upcoming halving event could act as a catalyst for price appreciation in the long term.
Institutional demand, as reflected by ETF flows, will be crucial in determining the short-term trajectory. If investors continue to exit the market, it’s possible that Bitcoin may struggle to regain its footing above $94,000.
That being said, a breakout above $100,000 could reignite bullish momentum and bring Bitcoin back into an upward trend. It’s essential to monitor ETF flows closely in the coming days to gauge institutional sentiment.
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Source: u.today
