Bitcoin Sees Path to $95K-$97K as ETF Inflows Strengthen

Bitcoin's price has been on an upward trend, and analysts at Glassnode believe it could extend towards $95,000 to $97,000. This prediction is based on strengthening ETF inflows and a return of spot market activity.

The cryptocurrency has broken above its True Market Mean of $77,000 and a long-term holder supply cluster around $84,000 to $85,000. Glassnode identified the next major resistance at $96,700, which coincides with options positioning concentrated in this area.

Holding above $84,000 would keep the path towards the resistance zone open, while a move back below this level would put the $77,000 support level back in focus.