Future

Bitcoin

when

Grayscale Bitcoin Trust

Daily

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) achieved a 10-day high, closing above $69,000 on March 25.</li>
 <li>U.S. spot Bitcoin exchange-traded funds (ETFs) saw a return to net inflows.</li>
</ul>
<p>Bitcoin, the leading cryptocurrency, ended the day at a 10-day high on March 25, breaking through $69,000.</p>
<p>This surge in <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> price was observed during the initial trading session on Wall Street, which marked a shift in the cryptocurrency’s price strength.</p>
<h2 id="bitcoin-s-strength-continues">Bitcoin’s Strength Continues</h2>
<p>The strength of Bitcoin’s price continued to surge, exceeding $71,000 after the market closed.</p>
<p>Financial commentator Tedtalksmacro pointed out that U.S. spot Bitcoin ETFs had experienced a return to net inflows.</p>
<p>The prior week saw these ETFs experiencing “red” flow days, with weak uptake and record outflows from the Grayscale Bitcoin Trust (GBTC).</p>
<p>Despite significant outflows from GBTC, Bitcoin managed to overcome any obstacles to its upward trajectory.</p>
<p>This led to trader and analyst Matthew Hyland predicting the reopening of the path towards a six-figure Bitcoin price.</p>
<h2 id="analysts-take-on-bitcoin-s-future">Analysts’ Take on Bitcoin’s Future</h2>
<p>Hyland had previously noted a reset on a classic Bitcoin price metric to levels last seen when Bitcoin was traded at $40,000 in late January.</p>
<p>The Daily Relative Strength Index (RSI) values, which dipped below the key 50 level on March 20, were seen as a “good signal” for the rebound.</p>
<p>On the other hand, analyst Mark Cullen noted the presence of “gaps” in CME Group Bitcoin futures markets.</p>
<p>These often act as near-term Bitcoin price targets, and one left at the weekend below $64,000 remains unfilled.</p>
<p>However, trader Daan Crypto Trades expressed less concern about a potential drop in Bitcoin’s price, noting that there’s little need for worry as long as the price remains significantly distant from the gap.</p>
<p>He pointed out that during significant breakouts, gaps like these are often left behind.</p>

BTC Price Rebounds: Bitcoin ETFs On The Rise With $15M Gain

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