Bitcoin Price Remains Steady at $79K Amid Strong ETF Inflows

Bitcoin's price remains steady around $79,000 as investors continue to show interest in the cryptocurrency. The latest data from Lookonchain shows that Bitcoin exchange-traded funds (ETFs) witnessed net inflows of 2,038 BTC in a day's time, totaling around $161.83 million.

Over the past seven days, there was a total of 11,093 BTC in net inflows, amounting to approximately $880.76 million. This significant influx of capital into Bitcoin ETFs is seen as a strong demand signal, which could help absorb selling pressure near resistance levels.

The relative strength index (RSI) for Bitcoin stands at 61.50, indicating that the momentum is still positive despite weakness in the short term. The RSI is trading lower than recent highs, suggesting a reduction in bullish momentum during the ongoing consolidation period.