Bitcoin (BTC) has soared to a new all-time high of $109,114, just hours before Donald Trump’s second oath-taking ceremony. This surge reflects growing investor optimism toward blockchain technology.
Bitcoin Surges Amid Growing Optimism
Over the past week, Bitcoin’s price has climbed 16.93%, reaching a fresh peak today. Many speculate that Trump’s pro-crypto stance could drive Bitcoin to even greater heights this year.
Bitcoin ETF Inflows Reach Record Highs
Between January 13 and January 17, Bitcoin ETFs recorded impressive inflows. BlackRock’s “IBIT” led the way with $745.7 million, followed by Fidelity’s “FBTC,” which secured $680.2 million. Meanwhile, Grayscale’s “GBTC” saw an outflow of $87.7 million.
Overall, Bitcoin ETFs ended the week with a net positive flow of $1.86 billion, signaling strong institutional interest in the asset.
Bitcoin Price Outlook for the Week
Technical indicators show strong bullish signals. The RSI is approaching overbought levels, while the 50-day EMA continues to provide support. This indicates increasing buying pressure in the market.
If the bullish trend continues, Bitcoin could soon reach the $110,000 milestone. However, in the event of a market downturn, BTC may retest its critical support level at $100,000.
Conclusion
Bitcoin’s remarkable rally highlights growing investor confidence, fueled by anticipation of pro-crypto policies under Trump’s leadership. Traders should remain cautious and monitor key support and resistance levels closely.
