Bitcoin Dips Below $100k, ETFs See Record Inflows

Bitcoin Price Prediction Today 05th February 2025!

Bitcoin, the world's largest cryptocurrency, has been making headlines recently, with its price and market dynamics being closely watched by investors and enthusiasts alike. As of February 5th, 2025, the Bitcoin price stands at $98,026.03, with an intraday change of -1.07%. This slight dip comes amidst a broader market sentiment that has seen the cryptocurrency market lose approximately 2.25% in valuation over the past 24 hours, with a trading volume of $190.85 billion. The global crypto market cap currently stands at $3.22 Trillion.

Technical indicators, such as the Simple Moving Average (SMA) and the Relative Strength Index (RSI), suggest a bearish action for Bitcoin. The SMA constantly acts as a resistance to the Bitcoin price chart in the daily time frame, while the RSI indicator hovers around the neutral point in the 1D time frame. The average trendline displays a negative trend, indicating that the price of Bitcoin may continue to lose value this week.

Despite the short-term bearish sentiment, Bitcoin ETFs have recorded a significant inflow of over $340.7 million over the past 24 hours. BlackRock's "IBIT" led the pack with an inflow of $249 million, followed by Ark's "ARKB" with $56.11 million. No BTC ETFs recorded a negative flow during this period, suggesting a positive outlook for the asset class.

Looking ahead, the Bitcoin price could potentially reclaim the $100k mark, setting the stage for a rally towards its upper resistance level of $102,000. However, if the bears maintain their dominance, the price could drop towards its immediate support level of $95,000, or even retest its low of $92,000.

In the long term, Bitcoin's price prediction remains optimistic. Experts like ARK Invest predict that the Bitcoin price could surge to $1.5 million by 2030, anchored by a conservative estimate of $710,000. This bullish outlook is supported by the increasing adoption of Bitcoin as a strategic reserve asset