Bitcoin Aiming for $97,000 as Institutional Money Reaches $3.06 Billion in Just One Week

Bitcoin (BTC) continues to hold strong above the $94,000 level on Monday, after recording a rise to the sky of 10% last week. This bullish momentum is driven by the inflow of funds into Bitcoin spot ETFs in America reaching $3.06 billion — the highest level since mid-November 2024. According to technical analysis, a solid breakout above the $95,000 threshold could pave the way for BTC to advance to the next resistance level at $97,000. Institutional money is rising to the sky, market sentiment is optimistic. Last week, Bitcoin spot ETF funds in America attracted a record inflow of 3.06 billion USD, indicating strong confidence from institutional investors. According to data from SoSoValue, the amount of money poured into ETF funds last week was comparable to the period of the American presidential election in November 2024 — when BTC first surpassed the $100,000 mark. This increase is largely driven by a favorable political context and expectations that new policies will continue to support the digital asset market. The bullish momentum this time: The participation of traditional finance According to an analysis by QCP Capital released on Monday, the current bullish trend of Bitcoin is assessed to be "stronger" compared to previous cycles. Unlike previous rallies that were mainly driven by speculative leverage, this recovery is primarily due to actual participation from traditional finance (TradFi). Data also indicates that the funding rate in perpetual contracts (vĩnh viễn) is at or slightly negative — indicating that there is no overheating due to high leverage, while real money from spot ETFs continues to flow in over the past six days. Political developments support Bitcoin In addition to the institutional cash flow factor, domestic political factors are also creating new momentum for Bitcoin. Specifically, two Bitcoin Reserve Bills in Arizona, (SB1373 and SB1025), will be reviewed and may be voted on as early as today. SB1373 relates to the establishment of a digital asset reserve fund. SB1025 refers to allowing investment in digital currency using public capital.

If approved, Arizona will become the first state in America to incorporate Bitcoin into the state treasury, a significant step in legalizing and expanding the role of digital assets in the public financial system. Technical analysis: $95,000 is the decisive threshold Last week, BTC successfully surpassed the 200-day EMA at a level of $85,000, then rose to the sky by 11.14% as of Friday. However, over the weekend, BTC made a slight adjustment as it was unable to close above the $95,000 mark — an important resistance level. Currently, Bitcoin is trading around the $95,000 range. If BTC can break and close daily above this level, according to technical analysis, the next target will be the $97,000 area — the next resistance level on the daily timeframe.