Token

Bitcoin ETF

Bitcoin

Million

The Bitcoin price <a href="https://coinmarketcap.com/currencies/bitcoin/">blasted</a> past $70k as spot Bitcoin ETFs (exchange-traded funds) recorded their second-best daily inflows since their launch in January. 
<a href="https://insidebitcoins.com/news/bitcoin-price-prediction-as-btc-flirts-with-70k-and-the-99btc-learn-to-earn-ico-closes-on-2-million">BTC</a> jumped more than 3% to trade at $71,152.04 as of 3:25 a.m. EST while the newly-launched ETFs added another $886.6 million to their reserves on June 4, according to preliminary <a href="https://farside.co.uk/?p=997">data</a> from Farside Investors. 
<img decoding="async" src="https://cdn.pixabay.com/photo/2017/01/25/12/31/bitcoin-2007769_1280.jpg" alt="1,000+ Free Bitcoin &amp; Cryptocurrency Images - Pixabay"> 
<h2 id="span-style-font-weight-400-analysts-predict-a-new-all-time-high-for-bitcoin-price-span">Analysts Predict A New All-Time High For Bitcoin Price</h2> 
The Fidelity Wise Origin Bitcoin Fund (FBTC) led the charge with $378.7 million of inflows. In second place was BlackRock’s iShares Bitcoin Trust (IBIT), which saw $274.4 million enter its fund. Meanwhile, the ARK 21Shares Bitcoin ETF (ARKB) was the third-best performer with its $138.7 million of inflows, according to Farside. 
A day after the ETFs raked in the record $1.04 billion in daily inflows on March 12, the Bitcoin price went on to establish a new all-time high of $73,679 on Mar. 13.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 The crucial level at $70K needs to break. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> had a test there yesterday, but couldn't get through it. 
 Once it will, that's when a new all-time high test and run of <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> is going to happen. <a href="https://t.co/8g39krvypq">pic.twitter.com/8g39krvypq</a> 
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1797912424311590942?ref_src=twsrc%5Etfw">June 4, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Analysts are bullish on BTC as a result. MN Trading Consultancy founder Michael van de Poppe told his over 718k followers on X that the king of cryptos could soon reach a new all-time high after it managed to break above $70K. This could also trigger an altcoin rally, he added.&nbsp; 
Pseudonymous analyst Rekt Capital shared a similar sentiment. He <a href="https://x.com/rektcapital/status/1798029787761692896">believes</a> that the Bitcoin price might be on the verge of entering “the Parabolic Phase of the cycle.” 
Presales with links to Bitcoin might also gain, with <a href="https://insidebitcoins.com/visit/99bitcoins" rel="nofollow">99Bitcoins (99BTC)</a> one possible beneficiary. It is about to pass $2 million in funds raised, 
<h2 id="span-style-font-weight-400-long-term-btc-holders-start-to-come-alive-span">Long-Term BTC Holders Start To Come Alive</h2> 
Long-term <a href="https://insidebitcoins.com/news/el-salvadors-continued-embrace-of-bitcoin-under-president-bukeles-second-term">Bitcoin</a> holders seem to be getting ready for a big price move. Wallet addresses that have been dormant for up to a decade have recently awakened, according to on-chain <a href="https://cryptoquant.com/asset/btc/chart/network-indicator/spent-output-age-bands?window=BLOCK&amp;priceScale=log&amp;metricScale=linear">analytics</a> by CryptoQuant. 
“Old coins moving, after old coins moving, after old coins moving,” CryptoQuant analyst J. A. Maartunn <a href="https://x.com/JA_Maartun/status/1797644150101479432">said</a> on X. 
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Bitcoin Blasts Past $70K As Spot BTC ETFs Record Second-Highest Net Inflows

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