Bitcoin

Tuesday saw BlackRock’s iShares Bitcoin ETF (IBIT) attracting an impressive $493 million in inflows. Notably, demand from Bitcoin ETFs has outpaced Bitcoin miner production by a factor of 10. Meanwhile, the Bitcoin options market remains bullish, particularly targeting the $60,000 strike price.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Cryptos-Headlines-Token-Airdrop-Is-Live-Claim-Your-Reward-Now-1.png?fit&#61;900%2C200&amp;ssl&#61;1" />After a slow beginning to February, the inflows into spot Bitcoin ETFs have surged once more! On Tuesday, February 13, the combined inflows across all nine spot Bitcoin ETFs reached an impressive $631 million. This is likely the largest single-day inflow since Bitcoin ETFs were introduced last month.<h3 id="blackrock-s-ishares-bitcoin-etf-dominates-inflows">BlackRock’s iShares Bitcoin ETF Dominates Inflows</h3>According to data from Farside investors, BlackRock’s iShares Bitcoin ETF (IBIT) saw a remarkable inflow of $493 million on Tuesday, surpassing its competitors by a significant margin. Fidelity recorded the second-highest inflows at $163 million.Meanwhile, outflows from the Grayscale Bitcoin Trust (GBTC) have slowed down, remaining under $100 million over the past three days of this week. Net inflows into Bitcoin ETFs now total $3.7 billion, with BlackRock witnessing $4.6 billion in net inflows while GBTC has seen $6.5 billion in net outflows.On Monday, spot Bitcoin ETFs acquired approximately ten times more Bitcoin than what miners generated. Initial data suggests that spot Bitcoin ETFs received at least $493.4 million, equivalent to about 10,280 BTC. Meanwhile, Bitcoin miners produced around 1,059 BTC valued at roughly $51 million on the same day, representing only 10% of the amount accumulated by spot ETFs.<h3 id="bitcoin-call-options-signal-bullish-sentiment">Bitcoin Call Options Signal Bullish Sentiment</h3>Bitcoin call options set to expire at the end of February are predominantly targeting strike prices above the $50,000 level, despite the cryptocurrency dipping below this mark on Tuesday following the release of fresh U.S. inflation data.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" />Accumulation of Open Bitcoin Call Options: Data from Deribit reveals a significant accumulation of open Bitcoin call options at strike prices of $60,000, $65,000, and $75,000 as the end-of-month expiry on February 23 approaches.<a href="https://cryptosheadlines.com/dogecoin-adoption-accelerates-doge-comeback-soon/" rel="noopener noreferrer nofollow">Also Read: Dogecoin Adoption Accelerates: DOGE Comeback Soon?</a>Bullish Traders Eye Higher Strike Prices: Jag Kooner, Head of Derivatives at Bitfinex, highlighted that as the market aims to surpass the crucial $50,000 psychological threshold, many bullish traders with long-term perspectives are acquiring inexpensive call options set at strike prices significantly above the current Bitcoin levels.Interest in Higher Strike Prices: The clustering of Bitcoin call options at the $60,000 strike price and beyond indicates a significant portion of market participants anticipating Bitcoin’s price surpassing this level before the end-of-month expiration date.Long Bias in the Market: Kooner emphasized that the market remains heavily biased towards long positions, with an overall open interest spread favoring calls at a 0.47 put-call ratio. The overall market put-call ratio in the past 24 hours stands at 0.60, suggesting a continuation of the current trend.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Bitcoin ETFs Receive Big Investments: Could Bitcoin’s Price Reach $60000?

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