Prime

Bitcoin ETF

Bitcoin

Green

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-markets-turn-green-as-bitcoin-rises-and-altcoins-recover-key-areas/" data-wpel-link="internal">Crypto Markets Turn Green as Bitcoin Rises and Altcoins Recover Key Areas</a><br></p>
<p style="text-align: justify">Crypto currency markets are turning green again with the recent BTC increase, and altcoins are making efforts to reclaim key regions. This week’s agenda is extremely busy, but the mid-term outlook will be greatly affected by the flows of spot <a href="https://en.coin-turk.com/crypto-markets-rebound-as-sec-faces-setbacks-will-cryptocurrencies-rise/" data-wpel-link="internal">Bitcoin</a> ETFs. Therefore, it is important to closely monitor ETFs.</p> 
<h2 style="text-align: justify" id="spot-bitcoin-etfs">Spot Bitcoin ETFs</h2> 
<p style="text-align: justify">BTC price is at the $42,000 threshold, and the most recent outflow from GBTC reserves has just occurred. 6,884 BTC were transferred from Grayscale wallets to Coinbase Prime wallets. This represents the lowest outflow since the launch. As you may recall, we mentioned last week that the outflows were weakening day by day.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-308721 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/Grayscale-Coinbase-BTC-Transfer.png" alt="" width="1094" height="316"></p> 
<p style="text-align: justify">If the outflows from GBTC continue to weaken in this manner, it will be positive for cryptocurrencies in general. The Grayscale BTC reserve, which is over $20 billion, poses a potential risk to the market. In the scenario where outflows slow down, we will see that investors are still willing to invest in GBTC and BTC, and other issuers will not need to attract more demand to match the outflows from GBTC. By the close of trading on Friday, the net inflow to all ETFs was over $800 million, which was positive.</p> 
<h2 style="text-align: justify" id="spot-bitcoin-etfs-on-january-29">Spot Bitcoin ETFs on January 29</h2> 
<p style="text-align: justify">ETFs started off weak but negative on Monday, January 29. Prices fell around 0.2% while BTC dropped by 1.3%, which was relatively positive. What to follow now is the extent of GBTC sales at the market close, which will occur in about 6 hours. The growth rate of BlackRock and Fidelity reserves will also be critical for the rest of the week.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-308722 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/BTC-ETF-29-Ocak.png" alt="" width="781" height="510"></p> 
<p style="text-align: justify">The spot Bitcoin ETFs, which started trading just days ago, are at the beginning of their journey, and the stronger the entries in the initial period, the more mid-term optimism will increase.</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/crypto-markets-turn-green-as-bitcoin-rises-and-altcoins-recover-key-areas/" data-wpel-link="internal">Crypto Markets Turn Green as Bitcoin Rises and Altcoins Recover Key Areas</a></h5>

Crypto Markets Turn Green as Bitcoin Rises and Altcoins Recover Key Areas

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