Bitcoin’s price remains in consolidation, capped below USD 100,000 with support at USD 95,000. Traders are in a “wait-and-see” mode, awaiting catalysts to drive movement.
While price action may remain capped in the short term, the continued institutional adoption provides a solid foundation for a potential rally.
As more institutional players increase their exposure to Bitcoin, market sentiment may gradually shift toward optimism, eventually pushing the market to break key resistance levels and retest the all-time high.
However, in the short term, conditions could remain uncertain as flows in and out of Bitcoin ETFs continue to fluctuate as sentiment changes rapidly. Bitcoin ETFs saw significant outflows this week, which could weigh on the market. Overall risk appetite could continue to affect how investors perceive cryptocurrencies.
Meanwhile, in the U.S., North Carolina lawmakers are considering a bill that would allow the State Treasurer to invest up to 10% of state funds in Bitcoin exchange-traded products (ETPs), potentially exceeding USD 10 billion. This proposal follows similar trends in other states, which could further improve liquidity in the crypto market.
