Bitcoin ETFs See $2.75 Billion Inflows as Price Nears $150,000

Bitcoin is at a pivotal moment, with recent ETF inflows and technical indicators suggesting a potential breakout to $150,000. Last week, Bitcoin ETFs experienced $2.75 billion in net inflows, marking the third highest week in Bitcoin ETF history. BlackRock’s IBIT led the way with $2.43 billion in inflows, followed by Fidelity’s FBTC with $209.84 million. This significant influx of capital indicates strong institutional confidence in Bitcoin’s long-term value.

Ether ETFs also saw substantial inflows, totaling $248.31 million, reflecting broader enthusiasm within the crypto market. With net assets and trading volumes surging, the focus now shifts to when, rather than if, Bitcoin will make its next major move.

Technical analysis reveals that Bitcoin is currently trading at $109,545, having reached a high of $111,930 earlier this week. The price action has formed a symmetrical triangle on the 2-hour chart, characterized by converging trendlines from lower highs and higher lows. This pattern often signals an imminent breakout, although the direction will depend on which side of the triangle breaks first.

Key resistance levels to monitor include $109,631 (23.6% Fibonacci retracement) and the recent high of $111,930. A break above these levels, accompanied by strong volume and bullish candlestick patterns such as bullish engulfing or three white soldiers, could pave the way for further gains to $113,300 and $114,600. If momentum continues to build, reaching $150,000 becomes a distinct possibility. The MACD indicator is showing a slight bullish crossover, but confirmation is needed before entering any positions.

On the downside, the 50-period Exponential Moving Average (EMA) at $108,846 serves as the first level of support. A break below this level, especially with bearish candlestick patterns like bearish engulfing or three black crows, could indicate a deeper pullback. Additional support levels to watch are $108,209 and $107,060 (38.2% and 50% Fibonacci retracements). If these levels fail to hold, the next targets would be $105,905 and $102,190.

For new traders, this presents an opportunity to practice reading charts and understanding technical indicators. Those looking to go long should wait for a break above $109,631 with rising volume and bullish signals. Conversely, those considering a short position should look for a break below $108,209, confirmed by strong bearish patterns, which could signal a move lower.

In summary, Bitcoin’s current setup and historical ETF inflows suggest that a significant move is on the horizon, maintaining a bullish outlook for Bitcoin price predictions. Investors should wait for confirmation of breakout levels, set appropriate stop-loss orders, and remain flexible. While reaching $150,000 is possible, the timing and overall market sentiment will ultimately determine the outcome.