Bitcoin News: Bulls Eye $102,000 as BTC Gains Momentum

Bitcoin's price is showing strong bullish signals as it surges above the $100,000 mark. With the potential to break through the $102,000 resistance level, BTC is poised for further gains. The cryptocurrency is currently trading above $100,500 and the 100-hour Simple Moving Average, indicating a robust upward trend. A recent breakout from a short-term declining channel on the hourly chart of the BTC/USD pair has further fueled Optimism among investors. As Bitcoin continues to gain pace, market participants are closely watching for the next leg up in this dynamic market.

Bitcoin Price Signals Strength: Bulls Prepare for the Next Leg Up

Bitcoin price is gaining pace above the $100,000 zone. BTC is rising and might accelerate higher if it clears the $102,000 zone. Bitcoin started a decent increase above the $100,000 zone. The price is trading above $100,500 and the 100 hourly Simple moving average. There was a break above a short-term declining channel with resistance at $99,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $100,000 support zone. Bitcoin price started a decent upward move above the $98,000 zone. BTC was able to climb above the $98,500 and $98,800 levels. The bulls were able to push the price above the key barrier at $10,000. The price even cleared $101,500. Besides, there was a break above a short-term declining channel with resistance.

Pro-Bitcoin Senator Accuses FDIC Of Sabotaging Digital Asset Documentation – Details

US Senator Cynthia Lummis (R-WY) has raised serious allegations against the Federal Deposit Insurance Corporation (FDIC), claiming that whistleblowers from within the agency have reported efforts to destroy documentation related to the FDIC’s digital asset activities. Lummis, a strong advocate for Bitcoin (BTC) and other cryptocurrencies, has demanded an immediate cessation of these alleged actions in anticipation of Congressional oversight. This development comes amid heightened scrutiny of the FDIC’s handling of digital assets.

Bitcoin Reclaims $100K Mark, Sparking Market Excitement

Bitcoin has surged past the $100K mark, marking a significant milestone and injecting fresh momentum into the cryptocurrency market. This rally follows a swift recovery from a recent dip to $89K, with BTC gaining over 13%. The movement has also influenced altcoins, which are following Bitcoin's lead. Analyst Axel Adler highlighted the importance of the long-term holder (LTH) to short-term holder (STH) ratio, suggesting potential volatility ahead. Historical data indicates that shifts in this ratio often precede sharp price movements, hinting at possible turbulence in Bitcoin's journey above $100K.

Bitcoin Spot ETF Flows and its latest decoupling – Time to watch out?

Bitcoin Spot ETFs appear to be losing their influence across the market. Bitcoin could lend itself to short-term downside in the second half of this week. Bitcoin just recorded the first positive Spot ETF flows on Wednesday after noting consistent outflows since 8 January. However, the latest ETF flows revealed some other interesting findings about their impact too. Bitcoin’s price action, for the most part, has moved in tandem with Spot ETF flows. However, that has not been the case lately. For example – BTC pulled off a 12.81% uptick from its lowest price point earlier this week to hit a local high of $100,175 on Wednesday. Meanwhile, Bitcoin Spot ETFs saw only negative flows for a week prior to Wednesday. Simply put, Bitcoin managed to pull off the rally this week, despite Spot ETF outflows. This highlighted a decoupling between Bitcoin's price and ETF flows.

Rising Bitcoin Prices Defy Exchange Inflows: What Investors Need to Know

Bitcoin (BTC) has experienced a gradual recovery following the release of the US Consumer Price Index (CPI) report yesterday, with its price now hovering above $98,000. This marks a 6.1% increase over the past week, signaling growing optimism among market participants. Amid this, there has been an interesting trend observed by a CryptoQuant analyst concerning Bitcoin’s on-chain metrics and investor activity. One key area of focus is the exchange netflow data. The CryptoQuant analyst known as KriptoBaykusV2 recently shared insights into the significance of exchange netflow, emphasizing its role in understanding market trends and investor behavior. Bitcoin is currently defying the typical exchange flow trend, which is a critical metric that tracks the net movement of cryptocurrencies into and out of trading platforms over a specific period.