Bitcoin ETF

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The recent surge in the cryptocurrency market, propelled by notable rallies in major coins like Bitcoin and Ethereum, has instilled optimism among investors. With significant events such as the approval of the U.S. Spot Bitcoin ETF and the Bitcoin Halving shaping the landscape, investors are now contemplating the potential duration of the ongoing bull cycle.&nbsp;
Meanwhile, CryptoQuant founder Ki Young Ju has recently shared insights based on on-chain data, hinting at a possible timeline for the current bull cycle to end.
<h2 id="span-data-preserver-spaces-true-analyzing-on-chain-data-for-bitcoin-s-bull-cycle-end-span">Analyzing On-Chain Data for Bitcoin’s Bull Cycle End</h2>
CryptoQuant CEO Ki Young Ju has drawn attention to on-chain data to provide insights into&nbsp;the trajectory of&nbsp;Bitcoin’s bull cycle.&nbsp;Sharing a Bitcoin price chart on the X platform, Ju highlighted that the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> is currently amid its bull cycle, with its market capitalization outpacing its realized cap.&nbsp;
Meanwhile, he said that based on historical trends, such cycles typically last&nbsp;for&nbsp;about two years. So, considering the current pattern, he hinted that the current Bitcoin bull cycle might conclude by April 2025.
<figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://pbs.twimg.com/media/GNxnCRCbIAA_mq-?format=png&amp;name=900x900" alt="Bitcoin Market Cap Vs Realized Cap Chart" width="755" height="454">
 <figcaption class="wp-caption-text">
 Source: Ki Young Ju, X
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</figure>
Notably, Ju’s analysis comes at a time of&nbsp;positive sentiment in the crypto market, with the&nbsp;<a href="https://coingape.com/u-s-spot-bitcoin-etfs-bought-5-times-the-btc-mined-this-week/" target="_blank" rel="noopener noreferrer nofollow">U.S. Spot Bitcoin ETF</a> witnessing significant inflows this week. According to Farside Investors data, the ETF recorded inflows exceeding $726 million over the past four days, reflecting renewed investor interest.&nbsp;
Commenting on the development, Bloomberg Senior ETF analyst Eric Balchunas noted the ETF’s robust performance, with inflows totaling $1.3 billion over the past two weeks. He said&nbsp;that the&nbsp;significant inflow this week has helped offset previous outflows and reinstating confidence among investors.
<figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://pbs.twimg.com/media/GNx7-xTXQAA_UHZ?format=png&amp;name=large" alt="U.S. Spot Bitcoin ETF Fund Flows" width="752" height="477">
 <figcaption class="wp-caption-text">
 Source: Eric Balchunas, X
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Also Read: <a href="https://coingape.com/tether-pumps-liquidity-with-1-billion-usdt-mints-in-12-hours-crypto-market-rally-soon/" target="_blank" rel="noopener noreferrer nofollow">Tether Pumps Liquidity With $1 Billion USDT Mints in 12 Hours, Crypto Market Rally Soon?</a>
<h2 id="span-data-preserver-spaces-true-market-sentiment-amid-regaining-momentum-span">Market Sentiment Amid Regaining Momentum</h2>
The crypto market enthusiasts seem to be regaining confidence in the digital asset space, as evidenced by the recent performances of cryptos like Bitcoin, <a href="https://coingape.com/markets/solana-price-prediction-can-sol-reach-250-in-the-next-bull-run/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>, and others. Notably, the recent <a href="https://coingape.com/glossary/consumer-price-index-cpi/" target="_blank" rel="noopener noreferrer nofollow">U.S. Consumer Price Index (CPI)</a> data has contributed to bolstering&nbsp;investor confidence.&nbsp;
The data revealed a cooling of <a href="https://coingape.com/bitcoin-remains-steady-us-cooling-cpi-inflation-data-what-next/" target="_blank" rel="noopener noreferrer nofollow">inflation</a> in April compared to the previous month, indicating a potential shift in the Federal Reserve’s hawkish stance on policy rates.&nbsp;If inflation continues to decline,&nbsp;it could prompt the Fed to&nbsp;reassess its monetary policy, potentially influencing market dynamics and investor sentiment in the coming months.
However, despite the positive developments, the volatility, although declined, seems to be dominating the market currently. According to CoinGlass data, the <a rel="noopener noreferrer nofollow" href="https://www.coinglass.com/BitcoinOpenInterest" target="_blank">Bitcoin Futures Open Interest</a> fell 1.36% over the last 24 hours while rising about 1.26%&nbsp;in the last&nbsp;four hours to 490.28K BTC or $32.65 billion.
Meanwhile, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> noted slight gains and traded at $66,440.54, up 0.53% from yesterday. On the other hand, the trading volume fell 23.31% to $30.20 billion, with the BTC touching a 24-hour high of $66,545.81. Over the last 30 days, the flagship crypto has gained nearly 7%,&nbsp;while noting&nbsp;a weekly surge of over 5%.
Also Read: <a href="https://coingape.com/trending/heres-how-this-solana-trader-made-200k-with-1-5k-in-5-mins/" target="_blank" rel="noopener noreferrer nofollow">Here’s How This Solana Trader Made $200K with $1.5K In 5 Mins</a>
The post <a href="https://coingape.com/bitcoin-news-on-chain-data-signals-potential-end-bull-cycle-this-month/" rel="noopener noreferrer nofollow">Bitcoin News: On-Chain Data Signals Potential End of Bull Cycle This Month</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Bitcoin News: On-Chain Data Signals Potential End of Bull Cycle This Month

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