Core

United

Bitcoin ETF

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-surpasses-65000-mark" rel="noopener noreferrer nofollow">Bitcoin Surpasses $65,000 Mark</a><br></p>
<p style="text-align: justify">In an unexpected move, <a href="https://en.bitcoinhaber.net/bitcoin-skyrockets-approaching-record-value" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price has surged past the $65,000 threshold as inflation rates in the United States showed signs of deceleration in April. The increase followed a reported 0.3% rise in inflation, outpacing the previous month’s 0.4% and beating economists’ forecasts of a consistent 0.4% growth. Previously confined within a range of $60,000 to $64,000 for nearly two weeks, Bitcoin has demonstrated resilience against sellers to break new ground.</p>
<h2 id="price-movement-in-bitcoin">Price Movement in Bitcoin</h2>
<p style="text-align: justify">The recent narrow trading window between $60,000 and $64,000 has seen Bitcoin striving to maintain a daily close above $65,000. The slowdown in inflation has reinvigorated the cryptocurrency market, offering potential recovery from losses since April. According to the Consumer Price Index (CPI) report, annual inflation rose by 3.4%, narrowly missing the anticipated 3.5%. Excluding volatile food and energy prices, Core CPI matched market expectations with a 0.3% increase in April, down from March’s 0.4%. Annually, Core CPI also showed a slight decline from 3.8% to 3.6%.</p>
<h2 id="analytical-reports-on-bitcoin">Analytical Reports on Bitcoin</h2>
<p style="text-align: justify">The previous week observed a shift in Bitcoin ETF volumes, which had leaned towards negative flows. However, with the reduction in inflation, ETFs have seen over $100 million in daily net inflows, bringing the total to $11.84 billion. Grayscale’s Bitcoin Trust also noted a decrease in outflows, although it still recorded a daily net outflow of $51 million. On May 14, Ark Invest emerged as the top-performing ETF with $133 million, followed by Fidelity and Invesco. As Bitcoin aims for the $70,000 mark by June, it currently remains above the 20-day, 50-day, and 100-day exponential moving averages, bolstered by a relative strength index (RSI) of 72.</p>
<h2 id="insights-for-investors">Insights for Investors</h2>
<p style="text-align: justify"><strong>Key Takeaways:</strong></p>
<p style="text-align: justify">– Bitcoin has broken the $65,000 resistance level amidst slowing inflation.<br> – Recent CPI reports indicate a stabilization in inflation rates, with Core CPI showing a slight decrease.<br> – ETF volumes have shifted positively, with significant daily net inflows observed.<br> – Bitcoin retains strong short-term bullish indicators, including key moving averages and a high RSI.</p>
<p style="text-align: justify">These critical points suggest potential bullish momentum for Bitcoin in the short term as it targets new price highs.</p>
<p style="text-align: justify">As Bitcoin shows renewed strength, <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a> are eyeing a possible climb to $70,000 within the next two weeks. The cryptocurrency’s technical indicators and <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">market conditions</a> seem to align for a continued upward trajectory, provided current trends hold steady.</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-surpasses-65000-mark" rel="noopener noreferrer nofollow">Bitcoin Surpasses $65,000 Mark</a></h5>

Bitcoin Surpasses $65,000 Mark

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