2024

Bitcoin ETF

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-increase-bitcoin-etf-fund-investments/" data-wpel-link="internal">Investors Increase Bitcoin ETF Fund Investments</a> 
CoinShares data indicates that Bitcoin investment products saw over $1 billion in inflows last week, bringing the total inflows since the start of the year to approximately $14.6 billion. This increase in investments is largely attributed to institutions and <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">long-term investors</a> increasing their investments in spot Bitcoin ETF funds. The week ending May 24 saw $1.01 billion in inflows into Bitcoin exchange-traded products. 
<h2 class="p1" style="text-align: justify" id="high-interest-in-bitcoin-etf-funds">High Interest in Bitcoin ETF Funds</h2> 
Total inflows into all cryptocurrency investment products reached $1.05 billion, breaking the all-time record of $14.9 billion for 2024 so far. CoinShares’ Weekly Crypto Asset Fund Flows report, published on May 28, highlighted a 28% increase in weekly trading volumes, reaching $13.6 billion. Crypto funds now manage assets worth $98.43 billion. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-356905 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/coinshares-1.webp" alt="" width="1355" height="825"> 
The recent surge in buying and price increases is primarily due to market expectations that spot <a href="https://en.coin-turk.com/ethereum-eth-price-analysis-and-predictions/" data-wpel-link="internal">Ethereum</a> ETF funds will be approved in the US. Despite Ethereum’s underperformance following approval, continued inflows into spot Bitcoin ETF funds are significant. 
Farside Investors <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> that institutions invested approximately $1.057 billion in spot Bitcoin ETF funds between May 20 and May 24. Grayscale’s IBIT saw outflows dramatically drop to just $20.5 million per week. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-356906 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/farside.webp" alt="" width="937" height="991"> 
<h2 class="p1" style="text-align: justify" id="what-to-expect-for-bitcoin">What to Expect for Bitcoin?</h2> 
Popular analyst Daan Crypto Trades noted that Bitcoin’s 8-hour chart, when zoomed out over several months, shows price action ranging from $59,095 to an all-time high of $73,800 on March 14. 
According to popular analyst Daan Crypto Trades, Bitcoin’s price action over the past few months has ranged widely from $59,095 to an all-time high of $73,800 on March 14. He noted on May 27 that small deviations below this range were quickly reversed: 
<blockquote> 
 “Bitcoin has done nothing but move within a range similar to previous consolidations in this cycle.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-356904 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-22.jpg" alt="" width="1200" height="732"> 
Analyst Rekt Capital observed that Bitcoin’s recent recovery above $70,000 has created another local peak. He predicts that Bitcoin will likely continue to consolidate between $60,000 and $70,000, and he shared this chart on May 28. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-356903 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-yorum-8.jpg" alt="" width="1200" height="847"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-increase-bitcoin-etf-fund-investments/" data-wpel-link="internal">Investors Increase Bitcoin ETF Fund Investments</a></h5>

Investors Increase Bitcoin ETF Fund Investments

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