Bitcoin ETF

Bitcoin

Daily

<ul> 
 <li>As the price of Bitcoin (BTC) reaches new all-time highs, newly launched spot Bitcoin ETFs continue to achieve milestones with fresh inflows.</li> 
 <li>Net inflows have significantly contributed to Bitcoin (BTC) nearing its all-time high, and analysts are expecting an increase beyond $70,000 very soon.</li> 
 <li>Eric Balchunas, an ETF strategist at Bloomberg, reports notable trading activity in the crypto market, especially concerning Bitcoin ETFs.</li> 
</ul> 
<p><strong>Fidelity’s spot Bitcoin ETF stands out with a new record in daily inflows, and Bitcoin’s price is targeting the $70,000 peak.</strong></p> 
<h2 id="strong-fidelity-bitcoin-etf-surge-highlights-strong"><strong>Fidelity Bitcoin ETF Surge Highlights</strong></h2> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126551" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-53.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>As the price of Bitcoin (BTC) reaches new all-time highs, newly launched spot Bitcoin ETFs continue to achieve milestones with fresh inflows. On Monday, March 4th, Fidelity Bitcoin ETF (FBTC) set a new record with a massive $404 million single-day inflow.</p> 
<p>Bitcoin ETF inflows gained momentum again on Monday after slowing down last week. Total Bitcoin ETF inflows on Monday amounted to a striking $588 million, with both Fidelity and BlackRock recording inflows of over $400 million each.</p> 
<p>On the other hand, data from retail investors at Farside indicates that GBTC recorded a net outflow of $368 million. Net inflows have significantly contributed to Bitcoin (BTC) nearing its all-time high, and analysts are expecting an increase beyond $70,000 very soon.</p> 
<p>Eric Balchunas, an ETF strategist at Bloomberg, reports notable trading activity in the crypto market, especially concerning Bitcoin ETFs. Balchunas notes that today is the second-highest volume day for ETFs, attracting attention with an approximate $5.5 billion trading volume.</p> 
<p>In particular, he highlights that IBIT ETF contributed $2.4 billion to this volume by increasing its assets to over $11 billion. Balchunas also notes that each ETF has experienced a more than 30% increase in value in the last six days. He speculates that this impressive performance could contribute to sustaining momentum in trading activity.</p> 
<p>Balchunas suggests similarities with the “ARK Mania” phenomenon in the current market sensitivity, stating that the significant trading activity observed last week may represent a new normal rather than an anomaly.</p> 
<h2 id="strong-will-the-btc-price-rally-continue-strong"><strong>Will the BTC Price Rally Continue?</strong></h2> 
<p>The Bitcoin price is just a few steps away from reaching a new all-time high, and an upward movement beyond $70,000 could lead to further price rallies. Considering strong inflows into spot Bitcoin ETFs, institutional players may drive the rally.</p> 
<p>Bitcoin analyst Willy Woo challenges the idea that we are currently in a bull market by providing insights into the current state of the crypto market. According to Woo, the current market activity represents only a warming-up phase rather than a full-fledged bull market driven by fundamentals.</p> 
<p>Woo claims that a genuine fundamental-focused bull market is characterized by breaking the upper blue band on the Macro Index. When surpassing this threshold, he implies that participants from traditional finance (TradFi) may be bewildered by the market dynamics that follow.</p> 
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<p>The post <a rel="nofollow" href="https://en.coinotag.com/fidelity-bitcoin-etf-sets-new-record-in-daily-inflows/">Fidelity Bitcoin ETF Sets New Record in Daily Inflows!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>

Fidelity Bitcoin ETF Sets New Record in Daily Inflows!

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