1. **Summary:**
Bitcoin’s price surged close to $100,000 after a significant bounce, reaching $99,500 on Bitstamp. The rebound was fueled by buying activity on Coinbase, leading to a push towards the six-figure mark. Despite institutional trading absence, buyers returned to the market, with technical indicators suggesting potential breakout signals and price support. Concurrently, US spot Bitcoin ETFs experienced record outflows of nearly $300 million on December 20, raising concerns amidst the price rally.
2. **Key Insights:**
– The article highlights a rapid price increase in Bitcoin, almost reaching $100,000, driven by a substantial bounce and buying activity, particularly on Coinbase.
– Technical analysis indicators, such as the 50-day SMA, inverse head and shoulders pattern, and RSI signal, were noted to support the bullish price action and potential breakout.
– The absence of institutional trading did not deter bullish sentiment, demonstrating the influence of retail investors in the market.
– Surging Bitcoin prices contrasted with significant outflows from US spot Bitcoin ETFs, indicating a potential mismatch between investor sentiments in the spot market and ETF products.
– Investors are advised to conduct their own research due to the inherent risks involved in investment and trading decisions.
