Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-hits-all-time-high-analysts-optimistic/" data-wpel-link="internal">Bitcoin Price Hits All-Time High, Analysts Optimistic</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoin-analyst-shares-insights-on-pre-halving-price-movements/" data-wpel-link="internal">Bitcoin</a></strong> (BTC) <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> reached around $73,750 on March 14, marking an all-time high, and although it has retracted somewhat since then, analysts at Bernstein believe the major cryptocurrency’s upward trend is far from exhausted. Analysts reiterated their predictions that Bitcoin could reach $150,000 in this cycle and that the upward trend will continue until the end of 2025.</p> 
<h2 style="text-align: justify" id="strong-analysts-maintain-attractive-risk-reward-ratio-strong"><strong>Analysts Maintain Attractive Risk-Reward Ratio</strong></h2> 
<p style="text-align: justify">Bernstein analysts Gautam Chhugani and Mahika Sapra, in a note to their clients, stated, “We feel even better about this call and BTC metrics indicate a healthy bull cycle still in its early stages,” adding “Here, the risk-reward ratio maintains its appeal.”</p> 
<p style="text-align: justify">The analysts highlighted that the recent correction to around $57,000 effectively cleared excessive leverage in cryptocurrency exchange futures contracts.</p> 
<h2 style="text-align: justify" id="strong-emphasis-on-positive-flows-in-spot-bitcoin-etfs-strong"><strong>Emphasis on Positive Flows in Spot Bitcoin ETFs</strong></h2> 
<p style="text-align: justify">Meanwhile, analysts pointed out that in the US, spot Bitcoin exchange-traded funds (ETFs) reversed course with net inflows after an eight-day outflow streak.</p> 
<p style="text-align: justify">It is known that Grayscale’s converted spot ETF, GBTC, registered a net inflow of $63 million on May 3, following a 78-day outflow streak. Analysts noted this as a significant development, considering GBTC has been a major and consistent source of sales, and nine new spot ETFs had to absorb this.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-348133" src="https://coin-turk.com/wp-content/uploads/2024/05/BTC-Kripto-Bitcoin.png" alt="" width="642" height="578"></p> 
<p style="text-align: justify">Bernstein analysts also pointed out that the main reasons for the strong inflows into spot Bitcoin ETFs over the past three months include institutional purchases of BTC, a stable hashrate following the block reward halving, and healthy transaction fees post-halving. According to analysts, all these factors supported and continue to support strong inflows into spot Bitcoin ETFs.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-price-hits-all-time-high-analysts-optimistic/" data-wpel-link="internal">Bitcoin Price Hits All-Time High, Analysts Optimistic</a></h5>

Bitcoin Price Hits All-Time High, Analysts Optimistic

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