A bullish trend line is forming with support at $96,000 on the hourly chart of the BTC/USD pair.

Bitcoin is currently trading at $96,000 following a significant market fluctuation that saw the price drop to a low of $89,000 before rebounding.

The price has started a recovery wave above $95,000, trading above $95,500 and the 100 hourly Simple Moving Average.

The influx of short-term investors suggests a growing confidence in Bitcoin's long-term potential, often indicative of upcoming bullish trends.

The recovery above $95,000 has sparked renewed optimism among investors, although the market remains at a crucial juncture.

Market analysts predict a potential bullish recovery for Bitcoin in the coming week, speculating whether it can surpass the $100,000 mark.

BlackRock led the outflows with $219.48 million, while only a few ETFs like WisdomTree and VanEck saw positive inflows.

Immediate resistance for Bitcoin is near $97,450, with the first significant resistance at $98,000; a breakthrough could lead to further increases.

In the last 24 hours, around $200 million worth of liquidations occurred, primarily from short positions, signaling a bullish reversal in the market.

The current market shows signs of increased volatility, with a greater likelihood of bullish continuation despite a bearish sentiment reflected in the long-to-short ratios.

Technical indicators show that the hourly MACD is gaining momentum in the bullish zone, while the RSI is above 50, indicating positive market sentiment.

Despite the bullish price action, institutional investments in U.S. Bitcoin ETFs suffered outflows totaling $284.19 million on January 13, 2025.