Bitcoin ETF

Spot

Billion

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surges-spot-etf-reserves-hit-50-billion/" data-wpel-link="internal">Bitcoin Price Surges, Spot ETF Reserves Hit $50 Billion</a> 
Just a few months ago, if it had been said that <a href="https://coin-turk.com/fed-faizi-sifirladi-bitcoin-anlik-olarak-600-dolar-artti" data-wpel-link="internal">BTC</a> would reach $69,000 in March, most investors would not have believed it. Yet today, the once hard-to-believe scenario has become reality, with the price soaring up to $69,000. At the time of writing, it was at $65,700. So, what’s the latest on the ETF front? What should investors expect at this stage? 
<h2 style="text-align: justify" id="spot-bitcoin-etf">Spot Bitcoin ETF</h2> 
Bloomberg ETF analyst Eric Balchunas announced today that spot <a href="https://coin-turk.com/bitcoin-oldurenlerin-sayisi-hizla-dusuyor-2023-sadece-7-kez-olu-ilan-edildi" data-wpel-link="internal">Bitcoin</a> ETF reserves have reached a value of $50 billion. About 7 weeks ago, this cumulative reserve was below $30 billion and has now surpassed $50 billion thanks to over $8 billion in net inflows and the rise in <a href="https://en.coin-turk.com/bitcoins-surge-boosts-microstrategys-holdings/" data-wpel-link="internal">BTC</a> price. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-323409 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ETF-Kumulatif-Deger.jpg" alt="" width="1134" height="860"> 
The fundamental driver behind <a href="https://en.coin-turk.com/bitcoin-attempts-to-recover-after-falling-to-25k-what-triggered-the-recent-rise/" data-wpel-link="internal">Bitcoin</a>‘s accelerating price increase over the past 2 weeks has been the relentless inflows into ETFs. Today, approximately 1.5 hours after the US market opened, BlackRock’s spot Bitcoin ETF alone saw a trading volume of $1.48 billion. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-323408 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-etf-hacim-.png" alt="" width="685" height="530"> 
<h2 style="text-align: justify" id="will-cryptocurrencies-fall">Will Cryptocurrencies Fall?</h2> 
BTC price reached 99% profitability after its rapid ascent, leading investors to start cashing in their gains. However, this is not expected to last long as the upcoming halving historically leads to new peaks. Bitcoin is likely to initiate a real price correction after reaching a new all-time high (ATH) above $70,000. This could result in a loss of up to 30%. 
Halving periods are known for their intermediate corrections, so experienced investors may continue to see these pullbacks as buying opportunities. The real concern, as we have been expressing for days, is what will happen in a scenario where the continuous net inflows from ETFs turn into sales due to the “profit-taking impulse”. 
At the current stage, we are witnessing the rise cycle brought about by the story of supply shortage, supported by ETFs. However, it remains uncertain how the spot and OTC markets will react to a potential $50 billion sell-off. 
On the altcoin front, we may continue to see rapid increases depending on BTC’s closing above $65,000. The price of Bitcoin was at $65,120 at the time of writing. <a href="https://en.coin-turk.com/xrp-sec-case-latest-developments-and-analysis-by-leading-lawyers/" data-wpel-link="internal">XRP</a>, <a href="https://coin-turk.com/dogecoin-kurucusu-toplulugun-bazi-uyelerine-elestiride-bulundu" data-wpel-link="internal">DOGE</a>, and other altcoins saw losses around 8%. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surges-spot-etf-reserves-hit-50-billion/" data-wpel-link="internal">Bitcoin Price Surges, Spot ETF Reserves Hit $50 Billion</a></h5>

Bitcoin Price Surges, Spot ETF Reserves Hit $50 Billion

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