Exchange-traded funds (ETFs) linked to the top crypto have received net inflows exceeding $900 million in the past four days after they started last week with some strong withdrawals.
The market panicked for a moment as Trump progressively implemented higher tariffs aggressively on key commercial allies. The U.S. dollar weakened amid these trade policies and started to favor a bullish outlook for cryptocurrencies.
As a result, the market recovered and Bitcoin jumped near its all-time high on Sunday. Although the price has pulled back since then, it seems that bullish momentum is not going anywhere yet.
Trading volumes for BTC spiked as it touched the $122K area. Selling pressure accelerated at that point and managed to push the token to $118,000. At that point, a strong bounce occurred that has once again touched the upper bound of this tight area of consolidation at $120K.
Sideways trading typically means indecision by market participants. However, in the context of a bull market, it usually signals accumulation by deep-pocketed investors who are expecting a big move up next.
