Bitcoin ETF

Bitcoin

Rekt

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) could set a record by closing its seventh consecutive month in the green.</li>
 <li>Despite the pre-halving correction phase, investors continue buying the dip.</li>
</ul>
<p>Bitcoin (BTC) is on the verge of making history by closing its seventh consecutive month with a gain.</p>
<p>If the Bitcoin price remains above February’s close of $61,130 by the end of March, it will mark the first time it has risen for seven straight months.</p>
<h2 id="a-historic-run">A Historic Run</h2>
<p>Previously, Bitcoin had managed to print six monthly green candles from October 2020 to March 2021, during which the cryptocurrency’s value soared 445% from $10,781 to $58,783.</p>
<p>However, after the sixth month of gains, the Bitcoin price dropped 40% over the next three months, from $58,790 to $35,037.</p>
<h2 id="market-predictions">Market Predictions</h2>
<p>Historically, Bitcoin has seen corrections during the pre-halving period.</p>
<p>However, the influx from spot Bitcoin exchange-traded funds (ETFs) could lead to a price increase in the coming days, according to Matthijs de Vries, the founder of AllianceBlock.</p>
<p>He predicts that the constant inflow into the spot Bitcoin ETF will serve as a significant boost to drive price growth in the coming days, especially with the BTC halving cycle also closing in.</p>
<p>By the end of Q1, de Vries anticipates Bitcoin settling at $74,000.</p>
<p>Over the past week, the Bitcoin price fell 6.1% to $64,177 as of 4:30 pm in UTC.</p>
<p>Despite this, the world’s first cryptocurrency is up over 25% on the monthly chart.</p>
<p>Despite being in the pre-halving correction zone, investors continue to buy the dip.</p>
<p>Crypto analyst Rekt Capital noted that anything could still happen over the coming 26 days or so until the halving.</p>
<p>Despite a larger sell-off by spot Bitcoin ETFs, investors are buying the dip, according to Bitcoin analyst and managing partner at CMCC Crest, Willy Woo.</p>
<p>He noted that on the first dip, ETFs saw $1.6b of outflows while the Bitcoin network received $1.1b of total net flows, indicating plenty of self custody investors bought the dip.</p>

Bitcoin Aims for Unprecedented Seven-Month Winning Stretch

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