Despite Bitcoin’s recent price decline, analysts predict a possible rebound in spot Bitcoin ETF netflows. $56,000: A Critical Level Analyst Ki Young Ju believes that demand for Bitcoin ETFs typically increases when the cryptocurrency reaches certain support levels. Notably, new ETF buyers have an on-chain cost basis of $56,000. If Bitcoin approaches this price point,…
Year-End Target of $90,000 Analysts at Bernstein believe Bitcoin will hit $90,000 by the end of 2024. They attribute this optimism to: Strong inflows into Spot Bitcoin ETFs Record mining income Mid-2025 Prediction: $150,000 The analysts also maintain their prediction that Bitcoin will reach $150,000 by mid-2025. They cite the influence of Spot Bitcoin ETFs…
Pullbacks on the Horizon JPMorgan analysts warn that Bitcoin may experience further declines despite the recent optimism surrounding the upcoming Halving event. They cite decreasing inflows into Bitcoin ETFs and high open interest in futures as bearish signals. Profit-Taking and Overbought Conditions The analysts also note that Bitcoin is still considered overbought, suggesting that profit-taking…
Despite four days of Bitcoin exchange-traded funds (ETFs) losing money, the Bitcoin price has climbed back above $66,000. Grayscale ETF Outflows Grayscale’s ETF (GBTC) had a huge outflow yesterday, losing $358 million in a single day. This brings GBTC’s total outflow to $13.63 billion. BlackRock ETF Inflows In contrast, BlackRock’s Bitcoin ETF (IBIT) gained $233…
Bitcoin Spot ETFs have seen four straight days of withdrawals, leading to price declines across the crypto market. Outflows Led by Grayscale The Grayscale Spot ETF has been the main driver of the outflows, with investors expressing concerns about its high fees. This is the second time Spot ETFs have experienced four consecutive days of…
Mass Liquidations Bitcoin’s recent surge above $67,000 triggered nearly $300 million in liquidations. Over 86,000 traders faced losses, with Binance alone accounting for $128.7 million. Short positions (bets against the market) were the hardest hit, making up 57.55% of the liquidations. Bitcoin’s Recovery Despite a recent dip, Bitcoin has recovered, increasing its value by 6%…
Bullish Sentiment Fuels Predictions Crypto expert Michaël van de Poppe believes Bitcoin could reach $500,000 in the long term. He cites the “overly bullish sentiment” as a major factor supporting this prediction. Corrections Along the Way Van de Poppe acknowledges that “corrections will happen and they will be rough” on the road to $500,000. However,…
Despite the recent dip in Bitcoin’s price, Ki Young Ju, CEO of Crypto Quant, believes the bull market is far from over. Bullish Indicators Ju points to the percentage of Bitcoin’s Realized Cap across different age bands, which shows a positive outlook for 2024. He also credits the success of Spot Bitcoin ETFs as the…
Bitcoin Recovery After a sharp drop, Bitcoin has bounced back, rising from $61,000 to $67,000 on Wednesday. This has sparked optimism that a bullish trend may be on the horizon. However, Bitcoin is still below its all-time high of $73,000 reached last week. Correction Bottomed Out? Crypto experts believe that the recent price correction may…
Bitcoin’s recent surge from $60,000 to $68,000 has sparked optimism, but the cryptocurrency still faces obstacles in reaching its all-time high. ETF Outflows Weigh on Bitcoin Spot Bitcoin ETFs, which once fueled Bitcoin’s rise, are now experiencing outflows. Investors are withdrawing from the Grayscale Spot Bitcoin ETF due to high fees, mirroring a similar trend…
