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Bitcoin ETFs and Inflows Drive Market Sentiment
2024-07-22 19:55:08
Blockchain
Markets
Finance

Bitcoin ETFs and Inflows Drive Market Sentiment

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Despite a recent dip in Bitcoin's price, long-term holders are accumulating the digital asset and Bitcoin spot ETFs are seeing significant inflows. The price drop may be attributed to sell pressures from the Mt. Gox hack repayments and the German government's Bitcoin sale.

However, Bitcoin has found support in the $55,000-$58,000 range, and investors are taking advantage of lower prices. Spot Bitcoin ETFs have attracted $1 billion in just three days, with BlackRock and Fidelity leading the inflows.

The market sentiment remains bullish, with predictions of Bitcoin reaching $100,000 driven by ETF inflows. Meanwhile, market dynamics suggest a potential rise to $150,000 by year-end.

The German government's completion of its Bitcoin sell-off has alleviated fears in the crypto market. However, the market's volatility and complexities, along with regulatory hurdles, continue to shape Bitcoin's climb.

Nevertheless, Bitcoin presents a significant investment opportunity, and its market fundamentals and potential technological use cases support its long-term growth.

Related news on that topic:

Spot Ether ETFs: NYSE Arca Approval and SEC's Authorization ... Awaited

NYSE Arca has given the green light to spot Ethereum ETFs from various companies, including Grayscale, Bitwise, and Fidelity. These funds are now awaiting approval from the SEC on their S-1 forms and are expected to launch with management fees ranging from 0.15% to 0.25% on July 23. Despite the low market depth of Ether, indicating reduced liquidity, the launch of these ETFs could lead to increased price volatility and drive up the demand for ETH. Furthermore, the introduction of Ethereum ETFs may pave the way for the emergence of other altcoin ETFs, such as Solana's native token, SOL. SEC Commissioner Hester Peirce suggests that Ethereum ETFs may eventually allow for staking, which could pay around 4% APY and secure the proof-of-stake blockchain. It is predicted that these ETFs could attract over $5 billion in inflows. Additionally, Solana's SOL token has been experiencing significant price growth, driven by rising fundamentals and hopes for a potential ETF.

Ethereum ETFs Face Uncertain Demand Amid Regulatory Hurdles

Wintermute and Kaiko forecast lackluster Ethereum ETF demand, noting potential inflows and volatility. BlackRock, Fidelity, and Grayscale among 8 issuers set to launch ETH ETFs. Regulatory restrictions on staking hamper ETF competitiveness. Grayscale reveals 2.5% management fee, others range from 0.15-0.25%. Kaiko data shows ETH implied volatility surged to 67%. Price sensitivity expected with upcoming ETF inflows. Grayscale's ETHE fund anticipates outflows transitioning to spot ETF. Spot Ethereum ETF trading begins on July 23 at major US exchanges. Analysts anticipate a price push to $6,500 with Ethereum ETF approvals. Ether ETFs greenlit by SEC, signaling growing acceptance of cryptocurrencies in traditional finance.

Read 3 more recent news on this topic

The press radar on this topic:

The Street
22. Juli 2024 um 13:44

Bitcoin's price may dip to $45,000 before recovery

Cryptocurrencies & blockchain
Finance
The article discusses the potential price movements of Bitcoin in the coming months. According to the analysis by ViaBTC Capital's research team, there is a demand zone in the $40,000 to $45,000 region, and Bitcoin may test these lower levels before starting its ascent again. However, the timeline for recovery and the extent of the potential rise remain uncertain, as the cryptocurrency market is inherently unpredictable.
The Street
22. Juli 2024 um 14:43

Bitcoin spot ETFs see highest inflows in a month following dip under $60,000

Finance
Cryptocurrencies & blockchain
Despite a 20% drawdown in Bitcoin's price over the last month, long-term holders have been accumulating the digital asset at high rates. Bitcoin spot ETFs have also seen significant inflows, reaching levels not seen since early June when Bitcoin was around $70,000. The price drop was likely driven by sell pressures from the Mt. Gox hack repayments and the German government's offloading of its Bitcoin stash. However, Bitcoin seems to have found support in the $55,000-$58,000 range, and investors..
The Street
22. Juli 2024 um 16:43

Bitcoin could reach $80,000 to $100,000 by year's end, says Rebecca Chow

Cryptocurrencies & blockchain
Finance
Technology
Rebecca Chow, Head of Investment Research at ViaBTC Capital, discussed her predictions for Bitcoin's price by the end of the year, suggesting it could reach $80,000 to $100,000. However, she emphasized that ViaBTC Capital's investment approach focuses on emerging markets and blockchain technologies, rather than solely on Bitcoin's short-term price fluctuations. Chow advocated for a prudent investment strategy of dollar-cost averaging, rather than providing a specific price target.
The Street
23. Juli 2024 um 14:28

Will bitcoin's market fundamentals prevent a drop below $40k?

Finance
Cryptocurrencies & blockchain
Economy
Technology
The article discusses the current state of the bitcoin market and its potential price movements. The experts believe that bitcoin's price is unlikely to drop below $40,000 due to its strong market fundamentals, such as the average cost of mining bitcoin being around $70,000. They also discuss the potential of bitcoin beyond its current status as a speculative investment, with the expectation that more technological use cases will emerge in the next 2-3 years, though bitcoin's primary appeal will..
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