Bitcoin Reclaims $112,000: Are We in for a Big Weekend Rally?
Bitcoin (BTC) seems to be slowly recovering from its recent price dip. The original crypto has reclaimed the $112,000 price level after plummeting to below $108,000 earlier this month. According to CoinGecko’s Bitcoin data, BTC’s price has risen by 1.6% in the last 24 hours, 0.9% in the weekly charts, and 96.8% since September 2024. Despite the recovery, BTC is down 0.8% in the 14-day charts and 1.6% over the previous month. Let’s discuss if Bitcoin (BTC) will continue to rally over the coming weekend. Source: CoinGecko Is Bitcoin Gearing Up For a Weekend Rally? Source: Chris Ratcliffe / Bloomberg If Bitcoin (BTC) enters the $113,000 price level, it will break the downward pattern that has unfolded since mid-August. The market dip over the last few weeks could have been due to low ETF inflows. ETF inflows have been a key market driver this cycle. Both Bitcoin (BTC) and Ethereum (ETH) climbed to new all-time highs thanks to consistent ETF inflows from financial institut...