Bitcoin Surges 0.6% to $108,750 on $49 Billion ETF Inflows

Bitcoin has been consolidating above $108,000, with bulls targeting higher price points. The cryptocurrency has seen significant inflows into exchange-traded funds (ETFs), with inflows hitting $49 billion. This influx of capital has contributed to the bullish momentum, as whales have shifted $50 billion, indicating strong institutional interest. The resistance level at $116,000 remains a key hurdle for Bitcoin to overcome, but the current trend suggests that the cryptocurrency is poised for further gains.

Bitcoin's price has started a fresh increase above the $108,500 zone, consolidating and aiming for more gains above the $110,000 resistance. The cryptocurrency's price was trending around $108,750 during pre-market hours, having climbed 0.6% in the last 24 hours. This places it around 2.8% below its all-time high, indicating that a breakout to new highs is within reach.

The bullish sentiment has been further bolstered by a cooler-than-expected U.S. inflation report, which has significantly boosted the bullish outlook for Bitcoin. Analysts have predicted that Bitcoin could reach $200,000, driven by softer inflation and other bullish catalysts. Bitcoin has achieved a historic milestone by reaching its highest weekly close at approximately $109,000, sparking optimism among investors.

While the overall long-term outlook for Bitcoin remains bullish, with predictions ranging much higher in 2025, a short-term drop to the $90,000 range is being considered by some analysts. However, the current momentum suggests that Bitcoin is likely to continue its upward trajectory, with the potential to break new all-time highs.

Bitcoin has reclaimed the $110,000 level for the first time in three weeks, driven by ETF inflows and stabilizing macro conditions. To regain momentum, Bitcoin would need a strong push through the $109,500–$110,000 zone, which could open the path toward retesting the $111,814 all-time high. The upcoming "Crypto Week" event in Washington, D.C., is expected to bring together key players in the industry, potentially leading to positive sentiment and increased media coverage.

The next 48 hours could set the tone for the crypto market, with the US tariff decision being a key factor. If the US delays the tariffs again, risk-on assets like BTC may benefit. Combined with post-holiday optimism and upcoming events, the current setup seems favorable for more upside. Bitcoin is well-positioned to capitalize on this momentum, with traders watching closely as the market enters what could be a defining week for 2025’s mid-year rally.