Bitcoin

<p>Recent data King Young Ju, CryptoQuant’s CEO, reveals a noticeable slowdown in Bitcoin spot ETF netflows, with demand potentially set for a rebound as <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin prices</a> approach critical support levels.</p><p>On March 21, 2024, the market witnessed another day of net outflow, totaling $94 million, alongside substantial outflows from GBTC. Fidelity experienced a record low inflow of $2.9 million, marking a significant shift from the peak observed on March 15, 2024. This trend of continuous net outflows has persisted for four days.</p><h2 id="header-0">Influence of New Investors</h2><p>The entrance of new whales, predominantly ETF buyers, has been a notable development, carrying an on-chain cost basis of $56,000. This group’s investment behavior is crucial in understanding market dynamics, as corrections in bull markets typically involve a maximum drawdown of around 30%, indicating a threshold of pain at approximately $51,000. Such metrics are vital for investors gauging the market’s resilience and potential recovery pathways.</p><p>In bull markets, corrections serve as a natural adjustment mechanism, with a typical maximum drawdown of about 30%. This correction phase underscores the market’s volatility but also its potential for recovery. For Bitcoin, reaching the $51,000 mark represents a significant psychological and financial test, likely influencing both individual and institutional investment strategies.</p>

Bitcoin ETFs: Analyzing the Shift in Market Dynamics

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