Institutional appetite pays the price of bitcoin after 107 thousand dollars, as Binance flows decrease sharply
Bitcoin price re -testing a mark of $ 107,000 for the first time in four days, indicating a possible outbreak after its last restricted circulation. The encryption increased by 1.07 % and traded at $ 106,750 at the time of writing this report, but the basic momentum calls for more upward trend. According to Coinmarketcap, approximately $ 43 billion in BTC was traded within 24 hours before this article, which represents a 22 % increase in trading volume in this time frame. This indicates the appetite of Jupiter, which preaches well with bullish prices.
Pisces appetite pays bitcoin
Meanwhile, Cryptoquant reports that both institutional flows and retail to Binance have decreased to its lowest level since November 2024. This indicates an increasing rapprochement of the coin of metal instead of circulating, and continuing in favor of this trend gains according to the price of bitcoin. The Japanese Metaplanet is the latest foundation on a large scale, with a total BTC with a currency with Coinbase that buys 1,112 BTC in its latest purchase. Meanwhile, the last accumulation of the strategy was a 10,100 BTC acquisition process, purchased for $ 1.05 billion at an average price of 104,080 dollars.
Inance flows. Source: Cryptoquant
The strong institutional appetite of Bitcoin is also reflected in the ETF market, where Bitcoin has witnessed $ 301.7 million on the net flow on Friday, and it is in a chain of five sessions. This momentum is likely to continue as the United States and China trade talks are positive results. This feeling carries low risks, preferring digital asset gains.
Bitcoin prediction
It is preferable to momentum on bullish bitcoin to continue over the axis mark at $ 106,570. The initial resistance is likely to meet at $ 107,520. However, the expanded control by buyers will break this level and potentially test $ 108,300.
Instead, the BTC price can collapse to less than 106,570 dollars and turn the momentum to the negative side. In this case, the first support is likely 105,835 dollars. The collapse below this level will nullify the bullish direction, and the sellers can be controlled by sellers, to send the price to less to test 104,870 dollars.
