XRP News Today: Pro-Crypto Congress Boosts Ripple Sentiment; Bitcoin reaches $98,000

Positive market sentiment has also increased demand for cryptocurrency-related stocks, which came under pressure earlier in the week. The precise strategyMSTRMarathon Holding Group shares rose (13.22%).Mara) by 14.12%. Friday’s escape contributed to Nasdaq Composite The index increased by 1.77%.

In addition to the economic data, market sentiment towards pro-crypto Capitol Hill also fueled demand for Bitcoin. ETF Shop Head Nate Geraci shared a batch of pro-crypto posts, It helps,

“I’m not sure why, but I have a feeling something might change with the SEC’s approach to cryptocurrencies… Welcome to 2025.”

US BTC-Spot ETF market inflows boost demand

On Thursday, January 2nd, the US Bitcoin (BTC) ETF market recorded net outflows of $242.3 million. However, demand shifted significantly on Friday, January 3, supporting Bitcoin’s move towards $100,000. According to Farside investors:

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

Excluding BlackRock’s streaming data (Black(iShares Bitcoin Trust)Ebit), the U.S. Bitcoin (BTC) ETF market generated net inflows of $655 million on Friday. US ETF market flows remain crucial to Bitcoin price trends.

Proposal of a strategic reserve for Bitcoin in the United States

Progress toward the Strategic Bitcoin Reserve (SBR) in the United States could more significantly impact BTC and the broader cryptocurrency market.

On Thursday, Anthony Scaramucci Suggested The Trump administration may soon receive 500,000 bitcoins. Scaramucci listed Senate Banking Committee Chairman Tim Scott and Treasury Secretary Scott Bessent as advocates of the SBR. A major purchase by the US government would tilt the balance of supply and demand strongly in Bitcoin’s favor, which could push Bitcoin to new highs.

Bitcoin price forecast

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

Near-term BTC price trends hinge on US-BTC ETF market flows and US SBR developments. Bipartisan support for SBR market flows and BTC ETFs could push BTC towards the record high at $108,231, while setbacks could pull BTC towards the $90,742 support level.