Crypto
Bitcoin Price Surges on ETF Inflows, Bears Left Demoralized
Bitcoin has seen a significant influx of ETF inflows, which is silencing bearish sentiment in the market. According to recent data, the price of Bitcoin has grinded to $83,599.32 as investors continue to pour money into exchange-traded funds.
The return of ETF inflows has left bears demoralized, with many struggling to keep up with the rising prices. The MACD golden cross signals sustained bullish momentum, while the RSI remains neutral at 48.54 inside Bollinger bands.
Despite the bearish sentiment, the price of Bitcoin remains just above the EMA50 at $83,504.09 with EMA200 support at $79,545.98. This confluence suggests that the price will continue to move towards upper resistance at $84,887.57 before any potential pullback.