Bitcoin may consolidate in the near term while select altcoins continue to outperform.
Bitcoin (BTC) has been consolidating close to $100,000 for a few weeks and data indicates that every minor dip is being purchased. According to data from SoSoValue, United States-based spot Bitcoin exchange-traded funds witnessed inflows of $676 million on Dec. 3.
Capriole Investments founder Charles Edwards said in a post on X that institutional demand for Bitcoin has gone insane, resulting in 13.5% of all Bitcoin being held by institutions and ETFs.
Crypto market data daily view. Source: Coin360
