Bitcoin price surged to nearly $99,000 following a rebound in U.S. demand, as indicated by the Coinbase Premium Index. The index climbed to a 14-day Simple Moving Average (SMA) for the first time in nearly a month, suggesting a return of U.S.-based buyers. This trend was mirrored in the U.S. BTC ETFs complex, which recorded $908 million in daily net inflows, a monthly high. Institutional demand, particularly from Fidelity's FBTC and Ark Invest's ARKB, contributed to the upward momentum. However, lower liquidity levels at key support points raise the possibility of a price drop towards $97K-$95K.
However, there seemed to be massive lower liquidity that could constrict BTC in a price rangesoared to nearly $99k following a rebound in U.S demand, as evidenced by the Coinbase Premium Index . In fact, tto a 12-month low following a risk-off approach by U.S retail and institutional investors during the holiday season.
Fidelity’s FBTC led the demand with $357M and Ark Invest’s ARKB came in third with $222M inflows. Collectively, this indicated that institutional demand was back and aided BTC’s steady push to $98.9k.
Bitcoin Price U.S. Demand Coinbase Premium Index Etfs
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