Bitcoin’s price has climbed to $98,270, representing a 5% increase within 24 hours. Despite unprecedented outflows from Bitcoin exchange-traded funds (ETFs), the leading cryptocurrency continues to maintain its strength in the market.
BlackRock ETF Outflows Highlight Market Volatility
On December 24, BlackRock’s Bitcoin ETF experienced its largest outflow to date, with $188.7 million withdrawn. This figure surpassed the previous high of $72.7 million recorded just days earlier. Overall, U.S.-based Bitcoin spot ETFs faced outflows totaling $338.4 million that day, contributing to a cumulative $1.52 billion in withdrawals since December 19.
While Bitcoin has demonstrated resilience, trading near the $98,000 mark, Ether ETFs displayed an opposing trend. On the same day, Ether ETFs recorded $53.6 million in inflows, adding to the prior day’s $130.8 million. Analysts suggest this trend reflects evolving market sentiment, with Ether potentially outperforming Bitcoin in early 2025.
Bitcoin’s Price Targets $100,000 Resistance Level
Bitcoin is currently testing the $98,340 Fibonacci retracement level, nearing a significant resistance point at $100,000. The 61.8% Fibonacci retracement aligns closely with this threshold, indicating a critical juncture for BTC’s bullish trajectory.
The Relative Strength Index (RSI) sits above 50, further supporting a positive outlook. Additionally, the 50-day Exponential Moving Average (EMA) signals continued upward momentum. However, a failure to surpass $100,000 could result in a price pullback, with support identified at $97,910.
If Bitcoin successfully breaks the $100,000 resistance, it may advance toward $104,000, the next major resistance level.
Key Market Insights
- Record ETF Outflows: BlackRock’s Bitcoin ETF saw record-breaking outflows, yet Bitcoin’s price remains above $98,000.
- Support and Resistance: Bitcoin faces resistance at $100,000, with support at $97,910.
- Ether’s Performance: Ether ETFs are gaining momentum, hinting at a potential shift in market sentiment for 2025.
Emerging Opportunities: Solaxy’s $SOLX Presale
While Bitcoin has captured investor attention with its price stability, the Solaxy presale has emerged as a noteworthy opportunity. Solaxy’s native token, $SOLX, has raised over $5.34 million, showcasing strong demand. This layer-two solution for the Solana blockchain addresses scalability challenges, ensuring zero congestion, errors, or delays.
As interest in meme coins and the Solana ecosystem grows, Solaxy could become a key player in the network’s future development. The token’s presale success suggests robust demand, with potential listings on major centralized exchanges (CEXs) likely to enhance its value further.
To invest in $SOLX, visit the Solaxy website to connect your wallet and purchase using ETH, USDT, BNB, or a bank card
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