The optimism among the crypto community has been on a constant rise as the Bitcoin 2025 conference nears. With the Bitcoin price holding its value around the $110,000 mark, investors are eagerly waiting for this crypto token to smash a new high soon.
Moreover, investors are speculating the upcoming conference to act as a catalyst in the BTC price surge as many key decisions are expected to be announced during this event. Questions like “What is Bitcoin price prediction 2025?” and “How high will BTC go in 2025?” experienced a significant surge over the past few days.
Bitcoin ETF Records 8 Consecutive Days Of Positive Streak
The BTC ETF has concluded another week on a bullish note by recording a positive inflow for all five working days. Reportedly, 6 ETFs displayed a positive flow during this period, 3 ETFs recorded a neutral flow, and 2 ETFs recorded a negative flow during this week.
BlackRock’s “IBIT” recorded the highest inflow of $2,432 million, followed by Fidelity’s “FBTC” with $209.9 million. While Franklin, Valkyrie, and WTree recorded neutral flow, Grayscale’s “GBTC” recorded the negative flow of $89.2 million, followed by Invesco’s “BTCO” with $5.3 million. The net inflow for the week concluded at $2.75 billion, resulting in the Bitcoin ETF maintaining its positive flow for 8 days.
Bitcoin Price Today Retests $110,000
The BTC price has maintained its value above the $109,000 mark with an intraday jump of approximately 2%. Moreover, with a trading volume of $46.72 billion, this cryptocurrency token has dominance of 63.22% of the total market valuation.
The Relative Strength Index (RSI) is on the verge of breaching out its overbought range in the daily time frame. Moreover, its average trendline continues hovering around the upper price range, indicating a positive outlook for the largest crypto token in the market.
Adding to this, the SMA indicator constantly supports the BTC price chart in the 1D chart. Considering the present market sentiments, the price of Bitcoin may continue gaining momentum this week.
Will BTC Price Rise Again This Week?
If the bulls maintain the value of BTC price above the $109,000 mark, it could result in the crypto token heading toward its ATH of around the $112,000 mark. A sustained positive action may set the stage for it to achieve its $116,000 level.
On the flip side, if the bears dominate the crypto space, the price of BTC token could drop toward its immediate support of $108,000. Furthermore, if the bearish sentiment intensifies, this could result in it plunging toward its lower support range of $105,000 this month.
Also Read: Bitcoin Price Reclaims $110K: 3 Reasons Fueling the Surge
