Outflows Slowdown Outflows from Grayscale’s Bitcoin Trust (GBTC) are easing, as seen in Bitcoin ETFs’ trading activity. Investor anxiety over Grayscale’s Spot ETF seems to be settling, with the ETF cohort attracting significant trading volumes and asset growth. GBTC’s daily outflows dropped to $44.2 million on Friday, the lowest since spot Bitcoin ETFs launched. Stabilization…
Matrixport, a crypto financial services platform, has made a bullish prediction for Bitcoin’s price. They believe it will reach $63,000 by March this year. Factors Contributing to the Rise Spot Bitcoin ETFs: These ETFs have seen impressive demand, leading to significant accumulation of BTC by fund issuers. Bitcoin Halving: Expected in April, this event is…
Demand vs. Supply Imbalance Bitcoin analyst Willy Woo reports that the Bitcoin network receives an average of $607 million in new investor demand daily. However, the supply of Bitcoin mined daily is only $46 million, indicating a significant demand-supply gap. This imbalance is expected to become more pronounced after the upcoming Bitcoin Halving, which will…
Key Points: Bitcoin’s price shows signs of a potential bullish breakout. Analyst predicts a near-term surge to $61,000. Bitcoin is currently retesting the Tenkan indicator. A potential drop to $47,300 is possible if the downside breaks out. Bitcoin has entered the second phase of the bull run. Network sees significant investment inflow from investors. Upcoming…
Despite the launch of Bitcoin Exchange-Traded Funds (ETFs) by industry giants like BlackRock and Fidelity, Bitcoin’s price hasn’t shown a significant response. Tepid Performance: Prior to the ETF launch, Bitcoin reached a peak of $49,040 on January 11. Currently, it’s hovering around $51,000, a modest increase of 4.3%. Market observers are puzzled, considering the massive…
ETF Boom Ignites Gold Rush in Crypto World The introduction of spot Bitcoin ETFs has sparked a surge of interest in the cryptocurrency market, attracting both new and experienced investors. These investment vehicles provide a convenient and accessible way to gain exposure to Bitcoin, but their impact on the cryptocurrency’s core principles and long-term stability…
Bitcoin is currently stuck in a consolidation zone between $50,000 and $52,000, with no clear winner between the bulls and bears. Crypto analyst Alan Santana has used the Elliot Wave Theory to predict the cryptocurrency’s next move. Elliot Wave Points to Correction to $31,800 According to Santana’s analysis, the Elliot Wave theory suggests that Bitcoin…
Tom Lee, a leading expert at Fundstrat Global Advisors, recently shared his insights on Bitcoin’s future trajectory and when it might reach a significant milestone of $150,000. Key Factors Driving Bitcoin’s Potential Surge Lee’s prediction is based on several factors that are expected to positively impact Bitcoin’s price: Spot Bitcoin ETFs: The introduction of Spot…
Bullish Sentiment and Long-Term Prediction Crypto experts remain optimistic about Bitcoin’s long-term potential, predicting significant price increases. Michael Van De Poppe, a prominent crypto analyst, shared a bold prediction on social media, suggesting that Bitcoin could reach $500,000 in the long run. Overly Bullish Sentiment and Potential Corrections Poppe noted the current “overly bullish sentiment”…
Bitcoin, the cryptocurrency famous for its price swings and digital gold status, is now making a play for a new title: sustainability champion. Surging Renewable Energy Use A recent analysis reveals a remarkable surge in renewable energy use for Bitcoin mining, reaching a staggering 55%. This marks a significant shift from just four years ago,…
