BTC Price is Above $96,000 Amid Rising Dominance and $41M ETF Inflows

Bitcoin Price Rally: Market Cap and Sentiment Updates

Bitcoin (BTC) is trading at $96,746.03, up 3.48% in the last 24 hours, and its market cap has hit an impressive $1.92 trillion.

With daily trading volume reaching $33.47 billion, Bitcoin continues to dominate conversations in the crypto world. This surge has been fueled by growing investor interest and positive market trends.

If you’re wondering about market sentiment, the Fear and Greed Index—a tool that gauges investor mood—has improved to a neutral 51 from 48. This signals a gradual return of confidence in the market.

Meanwhile, the overall crypto market is valued at $3.41 trillion, with $114.7 billion in daily trading activity. However, Bitcoin remains the main focus as altcoins, often riskier investments, are seeing slower growth.

Bitcoin Dominance and Key Market Drivers

Bitcoin now controls 56.2% of the crypto market, up by 1.87% from yesterday. This means Bitcoin is taking an even bigger slice of the crypto pie, leaving Ethereum with 12.2% and other altcoins with 31.6%.

Why? Investors are gravitating back to Bitcoin because of its stability and stronger performance, especially in uncertain times.

This dominance is backed by technical trends, including a triple-bottom pattern near $91,985, which has provided strong support for its recent upward momentum.

Historically, Bitcoin’s market share has fluctuated, hitting a high of 60.1% in November 2024 and a low of 49.6% in January 2024. These numbers show a clear shift in favor of Bitcoin as a safer bet.

Institutional investors are also showing interest, with $41.3 million in crypto ETF inflows recorded by December 31, 2024.

Additionally, open interest in Bitcoin perpetual contracts is a massive $711.89 billion, with futures contracts totaling $3.34 billion. Big money is clearly backing Bitcoin.

Bitcoin Technical Analysis: Bullish Momentum Builds

Bitcoin’s triple-bottom pattern near $91,985 has solidified a strong support level, reinforcing the ongoing bullish uptrend.

A bullish engulfing candle highlights strong buyer demand, with an upward trendline near $91,985 boosting market confidence.

Immediate resistance is now set at $108,828, with further barriers at $115,303 and $122,780.

On the downside, critical support levels include $85,272, $80,200, and $73,614, acting as safety nets against bearish reversals.

The 50-day EMA at $93,402 continues to support a bullish bias, while the RSI near 65 indicates moderate bullish momentum.

A sustained move above $108,828 will be essential to confirm further upward progress, while a breach below $85,272 could invite short-term bearish corrections.