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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-rises-on-etf-day-a-look-at-the-future-expectations/" data-wpel-link="internal">Bitcoin Rises on ETF Day: A Look at the Future Expectations</a><br></p>
<p class="p1" style="text-align: justify"><a href="https://en.coin-turk.com/michael-van-de-poppe-its-time-for-bitcoin-to-rise/" data-wpel-link="internal">Bitcoin</a> experienced a notable increase on January 11, known as ETF Day, coinciding with the opening of Wall Street, and at the time of writing, it continues to trade at the level of $48,468, with a 3.80% increase in the last 24 hours. So, what is expected in the coming period with today’s volume records being broken on the ETF front? Let’s examine together.</p> 
<h2 class="p1" style="text-align: justify" id="the-etf-process-and-bitcoin">The ETF Process and Bitcoin</h2> 
<p class="p1" style="text-align: justify">The United States’ first spot Bitcoin exchange-traded fund (ETF) was approved, focusing the Bitcoin price target on the $50,000 level. Bitcoin continues to trade below this region, but exchange statistics reveal that no one is leaving things to chance behind the scenes.</p> 
<p class="p1" style="text-align: justify">As noted by Gaah, a contributor to the analysis platform CryptoQuant, even Bitcoin miners have taken their own measures against volatility. The famous analyst made the following statements through X:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Before the official approval of the Bitcoin Spot ETF product, there was a net inflow of 10,000 Bitcoins into miners’ wallets. After the approval, following the most recent price peak, there was a net outflow of 9,500 Bitcoins from miners’ wallets.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">According to CryptoQuant, this outflow marked the biggest net decrease so far in 2024 and draws attention to the current downward trend in miners’ Bitcoin holdings.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-301276 size-full" src="https://coin-turk.com/wp-content/uploads/2024/01/bitcoin-miner-veri-scaled.jpg" alt="" width="2560" height="1613"></p> 
<h2 class="p1" style="text-align: justify" id="noteworthy-details-on-the-bitcoin-front">Noteworthy Details on the Bitcoin Front</h2> 
<p class="p1" style="text-align: justify">Blockchain data analytics firm Glassnode has pointed out that there is frenzied trading activity among exchange users as a whole. The firm announced that the transaction volume ratio conducted by exchanges on January 10 might have reached a new peak, exceeding 78%. On January 9, this ratio had already reached unusually high levels:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Exchange activity, with 76.4% of Bitcoin’s on-chain volume entering and exiting exchanges, continues to remain significantly high, just a notable amount below the highest level of 77.4%.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-301275 size-full" src="https://coin-turk.com/wp-content/uploads/2024/01/btc-takas-veri.webp" alt="" width="1800" height="1013"></p> 
<p class="p1" style="text-align: justify">With these developments, during a period when prices are still volatile, popular commentator British HODL examined the short and long term for bullish signals in Bitcoin’s price. The well-known figure shared the following with his followers through X:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“The fact that the price has not yet moved does not mean it is not priced in.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">British HODL drew attention to the halving event, expected to occur in April, which will reduce the reward paid to miners per block by 50% to 3.125 Bitcoins.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-rises-on-etf-day-a-look-at-the-future-expectations/" data-wpel-link="internal">Bitcoin Rises on ETF Day: A Look at the Future Expectations</a></h5>

Bitcoin Rises on ETF Day: A Look at the Future Expectations

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