Bitcoin Weekly Forecast: Room for a recovery or continuation of the pullback? 

Bitcoin price slightly recovers and trades around $94,700 on Friday after declining nearly 6% earlier this week.
US Bitcoin spot ETF data recorded a total net inflow of $462.2 million until Thursday.
A 10xResearch report this week highlights Bitcoin’s price action for the upcoming major events in January. 
Bitcoin’s (BTC) price slightly recovers and trades around $94,700 on Friday after declining nearly 6% earlier this week. US Bitcoin spot Exchange Traded Funds (ETF) data shows signs of mild recovery, with a total net inflow of $462.2 million until Thursday. A 10xResearch report released this week projects Bitcoin’s price action for the upcoming major events in January. Bitcoin price started the week by claiming its $100K mark and closed above $102,000 on Monday following the Federal Reserve (Fed) Board announcement that Michael S. Barr will step down from his position as Fed Vice Chair for Supervision. This announcement positively impacted the overall crypto market as Barr is known for his stringent regulatory approach towards banks engaging with and custodying cryptocurrencies. His departure is expected to ease concerns over potential harsh regulatory changes during President Biden’s final days in office.“Barr’s resignation will officially be effective on February 28 or earlier as a successor is confirmed but will continue to serve as a member of the Federal Reserve Board of Governors,” says the Fed’s press release post.In an exclusive interview with FXStreet, Nkiru Uwaje, COO and co-founder of MANSA, said, “Michael Barr’s resignation is being interpreted as a potentially bullish development for the crypto space, signaling that the market could be in store for a more dynamic and favorable regulatory environment.”Uwaje further explained that over the past few years, the Securities and Exchange Commission’s (SEC) unfavorable approach to crypto policies has made it difficult for institutional and individual investors to access digital assets, creating a void in investment opportunities. As a result, both the SEC and the broader US financial system missed out on the opportunity to capitalize on the growing digital asset movement. “A shift in regulatory tone, especially following the resignation of the Fed’s Vice Chair, may pave the way for greater institutional investment in crypto, enabling the US to maintain its dominance in global finance. However, despite this potential shift, the creation of a Bitcoin reserve would likely remain a contentious issue,” said Uwaje to FXStreet.Bitcoin price could not sustain above its $100K mark on Tuesday and declined near 9.50% until Thursday, reaching a daily low of $91,203. This downturn came after the release of the US Institute for Supply Management (ISM) Services Purchasing Managers Index (PMI) and Job Openings and Labor Turnover Survey (JOLTs) data on Tuesday, which revealed unfavorable results for risky assets. This price correction triggered a wave of liquidations acro