Bitcoin Price Forecast: BTC shows signs of resilience as ETF inflows extend
Bitcoin price finds support around the mid-point of a horizontal consolidation channel on Thursday, rebounding nearly 6% so far this week.
US-listed spot ETFs recorded an inflow of over $115 million on Wednesday, marking the third consecutive day of positive flows this week.
Analysts at Nansen say Bitcoin is showing relative resilience, holding up better than several traditional risk benchmarks.
Bitcoin (BTC) price finds support around a key level, trading around $70,000 as of writing on Thursday and posting gains of nearly 6% so far this week. Institutional demand shows signs of strength, as spot Exchange Traded Funds (ETFs) recorded a third consecutive day of inflows this week. Meanwhile, Nansen’s analyst reports the Crypto King is showing relative resilience, holding up better than several traditional risk benchmarks.
