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Bitcoin has surged back to the $100,000 mark, while Ethereum is holding steady above $3,600, indicating a positive outlook for the market following the New Year. In the past trading week, net inflows into spot Bitcoin ETFs reached $256 million, a notable turnaround from the $377.6 million outflow recorded the previous week. In contrast, spot Ethereum ETFs experienced net outflows of $38.1 million, a decrease from the $349.3 million inflow seen the week before. This shifting trend suggests that investors are rebalancing their portfolios, which could have a beneficial effect on the cryptocurrency market in the near future.
Current trends in the inflows and outflows of BTC and ETH spot ETFs indicate that investors are exercising caution and redistributing their assets amid a relatively calm market. Although BTC ETF outflows have decreased, the overall investment volume remains moderate, suggesting that major players are adopting a wait-and-see approach. In addition, the outflows from ETH ETFs, while significant, do not raise any serious concerns, as Ethereum continues to show resilience thanks to its active ecosystem development and ongoing updates.
This situation underscores the growing maturity of the cryptocurrency market, where investors are increasingly using ETFs for diversification and risk management. Such developments have the potential to attract new participants, including institutional investors, which could foster long-term confidence in digital assets. Furthermore, Bitcoin's return to the $100,000 mark today reinforces this trend.
Regarding my intraday strategy for the cryptocurrency market, I will focus on leveraging major drawdowns in Bitcoin and Ethereum to benefit from the ongoing medium-term bullish trend.
For short-term trading, the strategy and conditions are outlined below.
Buy Bitcoin at the $99,900 level with a target of $101,200. Exit purchases at $101,200 and sell immediately on a rebound. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone.
Sell Bitcoin at the $99,200 level with a target of $98,200. Exit sales at $98,200 and buy immediately on a rebound. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone.
Buy Ethereum at the $3,695 level with a target of $3,765. Exit purchases at $3,765 and sell immediately on a rebound. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone.
Sell Ethereum at the $3,649 level with a target of $3,592. Exit sales at $3,592 and buy immediately on a rebound. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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