Ethereum

Bitcoin

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-reaches-70000-again-as-etf-outflows-persist" rel="noopener noreferrer nofollow">Bitcoin Reaches $70,000 Again as ETF Outflows Persist</a><br></p>
<p style="text-align: justify">With <a href="https://en.bitcoinhaber.net/bitcoin-network-health-a-focus-beyond-price-movements" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.bitcoinhaber.net/bitcoin-user-accidentally-pays-3-1-million-commission-fee-for-a-single-transaction" rel="noopener noreferrer nofollow">BTC</a>) surpassing the $70,000 threshold, the market dynamics reveal a continuous stream of outflows from the spot Bitcoin ETFs, despite the lack of recent data from major players like BlackRock and Fidelity. A substantial net outflow of $350 million raises concerns at the week’s outset, prompting analysts to re-evaluate their forecasts for both Bitcoin and <a href="https://en.bitcoinhaber.net/celsiuss-strategic-eth-transfers-a-deep-dive-into-their-crypto-maneuvers" rel="noopener noreferrer nofollow">Ethereum</a> (ETH).</p>
<h2 id="bitcoin-defies-etf-outflows-with-potential-growth">Bitcoin Defies ETF Outflows with Potential Growth</h2>
<p style="text-align: justify">Exchange-Traded Funds (ETFs) dealing in Bitcoin have logged net outflows for five straight days, suggesting a challenging week amid Federal Reserve pressures on cryptocurrencies. Nevertheless, Goldman Sachs reports an uptick in Bitcoin interest following the approval of ETFs, highlighting an $11 billion net inflow in under three months. Should Bitcoin stave off drastic declines and regulatory hurdles, it’s likely to maintain its appeal in the ETF market.</p>
<p style="text-align: justify">As BTC prices remain above $69,000, optimism grows for a push towards the $73,777 mark, with a longer-term target of $80,000, provided the current upward momentum persists. However, a downturn from current levels could signal a bull trap, with a potential fall to $59,000, marking a critical support level.</p>
<h2 id="ethereum-s-price-stability-amidst-market-skepticism">Ethereum’s Price Stability Amidst Market Skepticism</h2>
<p style="text-align: justify">Ethereum’s market value feels the brunt of ETF-related pessimism, further complicated by the SEC’s stance on Ethereum ETFs compared to those of Bitcoin. Nevertheless, ETH has reclaimed its 20-day Exponential Moving Average (EMA), and if prices hold above $3,521, there’s potential for further gains.</p>
<p style="text-align: justify">Should Ethereum maintain its upward trajectory, price targets of $3,679 and potentially $4,094 are within sight. Conversely, a drop below these levels could temper bullish sentiment, and slipping under the 50-day Simple Moving Average (SMA) might lead to a deeper correction, potentially down to $2,868. Market watchers forecasting a dip to the $950 billion support level for altcoins may see their cautionary outlooks validated by an ETH downturn.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-reaches-70000-again-as-etf-outflows-persist" rel="noopener noreferrer nofollow">Bitcoin Reaches $70,000 Again as ETF Outflows Persist</a></h5>

Bitcoin Reaches $70,000 Again as ETF Outflows Persist

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