XRP News Today: Pro-Crypto Congress Boosts Sentiment for Ripple; BTC Hits $98k

BTCUSD 040125 Hourly Chart

Positive market sentiment also drove demand for crypto-related stocks, which had been under pressure earlier in the week. MicroStrategy (MSTR) surged by 13.22%, while Marathon Holdings Group (MARA) jumped by 14.12%. Friday’s breakouts contributed to the Nasdaq Composite Index’s 1.77% rally.

Beyond the economic data, market sentiment toward a pro-crypto Capitol Hill also fueled BTC demand. ETF store President Nate Geraci shared a collage of pro-crypto posts, stating,

“Not sure why, but I get the sense something might be changing w/ SEC’s approach to crypto… Welcome to 2025.”

US BTC-Spot ETF Market Inflows Bolster Demand

On Thursday, January 2, the US BTC-spot ETF market posted net outflows of $242.3 million. However, demand shifted materially on Friday, January 3, supporting a BTC move toward $100k. According to Farside Investors:

  • Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows of $357.
  • ARK 21Shares Bitcoin ETF (ARKB) reported net inflows of $222.6 million.

Excluding flow data for BlackRock’s (BLK) iShares Bitcoin Trust (IBIT), the US BTC-spot ETF market had net inflows of $655 million on Friday. US BTC-spot ETF market flows remain crucial for BTC price trends.

US Strategic Bitcoin Reserve Proposal

Progress toward a US Strategic Bitcoin Reserve (SBR) could more significantly impact BTC and the broader crypto market.

On Thursday, Anthony Scaramucci suggested the Trump administration could soon acquire 500,000 BTC. Scaramucci listed the Senate Banking Committee Chair Tim Scott and Treasury Secretary Scott Bissent as advocates for an SBR. A significant US government purchase would tilt the supply-demand balance firmly in BTC’s favor, potentially driving BTC to new highs.

Bitcoin Price Outlook

On Friday, January 3, BTC advanced by 1.09%, following Thursday’s 2.60% rally to close at $97,878.

Near-term BTC price trends hinge on US-BTC-spot ETF market flows and US SBR developments. Bipartisan support for an SBR and BTC-spot ETF market inflows could push BTC toward its record high of $108,231, while setbacks may pull BTC toward the $90,742 support level.


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