Bitcoin ETF

Bitcoin

Read

BlackRock

<ul>
 <li>Bitcoin ETFs add 1,901 BTC in one day, marking $132 million in inflows.</li>
 <li>Despite substantial ETF inflows, Bitcoin’s price dips below $70,000.</li>
 <li>Major analysts forecast a bullish Bitcoin surge, potentially hitting $350,000.</li>
</ul>
Amidst the cryptocurrency market’s fluctuating dynamics, Bitcoin ETFs have registered investor interest, accumulating an impressive 1,901 BTC in a single day. This notable influx, amounting to approximately $132 million, continues an ongoing trend, marking the 19th consecutive day of net inflows. Despite these robust additions, Bitcoin’s price remains subdued, recently falling below the $70,000 threshold.
The bulk of the recent influx was credited to BlackRock, which added a substantial 2,450 BTC, valued at $169.2 million. Contrastingly, Grayscale experienced a reduction, recording an outflow of 524 BTC worth $36.3 million. Ark Invest also contributed to the inflows, albeit modestly, with an addition of 99 BTC.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF Update June 7 Total Net Inflows 1901 BTC ($132m) – BlackRock +2450 BTC ($169.2m) – Ark +99 BTC ($6.9m) – Grayscale -524 BTC ($36.3m) 19. Straight. Inflow. Days <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/eQqZINgHpp" rel="noopener noreferrer nofollow">pic.twitter.com/eQqZINgHpp</a>— Julian Fahrer (@Julian__Fahrer) <a href="https://twitter.com/Julian__Fahrer/status/1799244552014057813?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 8, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Analyzing the Market’s Response
Despite the apparent confidence from institutional investors, Bitcoin’s market price did not reflect the heightened activity, puzzling many observers. The cryptocurrency’s price dipped to$69,453.48, marking a <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">decline</a> of 1.56% at press time. This discrepancy between inflows and price performance suggests a complex interplay of market forces that could be tempering immediate price reactions.
Moreover, industry experts suggest that the sustained inflows amidst pricing may preclude a bullish turnaround. Historical patterns post-Bitcoin halving events have typically seen a lag before substantial price rallies. Prominent financial voices like Mike Novogratz and <a href="https://cryptonewsland.com/robert-kiyosaki-predicts-bitcoin-to-hit-350000-by-august-2024/" target="_blank" rel="noopener noreferrer nofollow">Robert Kiyosaki</a> anticipate significant upward movements, with projections reaching as high as $350,000.
Potential for a Bullish Surge
Investors and market analysts are closely monitoring these developments, speculating that the consistent inflow into Bitcoin ETFs might be setting the stage for a future surge in value. This scenario posits that current accumulations by major players like BlackRock and Grayscale could yield considerable returns should the predicted bullish market materialize.
The unfolding events will undoubtedly provide more insights into the potential trajectory of Bitcoin’s price in the near future.
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/u-s-spot-bitcoin-etfs-maintain-15-day-inflow-streak-with-105m/" rel="noopener noreferrer nofollow">U.S. Spot Bitcoin ETFs Maintain 15-Day Inflow Streak with $105M</a></li>
 <li><a href="https://cryptonewsland.com/grayscales-gbtc-sees-positive-inflow-after-prolonged-downturn/" rel="noopener noreferrer nofollow">Grayscale’s GBTC Sees Positive Inflow After Prolonged Downturn</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-etfs-hit-second-highest-inflows-day-with-886-6-million/" rel="noopener noreferrer nofollow">Bitcoin ETFs Hit Second-Highest Inflows Day with $886.6 Million</a></li>
 <li><a href="https://cryptonewsland.com/cardano-sees-over-1000-surge-in-inflows-whats-next/" rel="noopener noreferrer nofollow">Cardano Sees Over 1,000% Surge in Inflows: What’s Next?</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-etf-inflows-hit-record-highs-amid-rally-to-100k/" rel="noopener noreferrer nofollow">Bitcoin ETF Inflows Hit Record Highs Amid Rally to $100K</a></li>
</ul>
The post <a href="https://cryptonewsland.com/bitcoin-etfs-see-major-inflow-of-1901-btc-in-a-single-day/" rel="noopener noreferrer nofollow">Bitcoin ETFs See Major Inflow of 1,901 BTC in a Single Day</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Bitcoin ETFs See Major Inflow of 1,901 BTC in a Single Day

Crypto News Land

Other articles published on Jun 8, 2024

Ethereum Price: Analyst Predicts ETH To Note 13% Gain, Here’s Why

SHIB, NOT Users Seek Safety in MoonBag, the Top Crypto Presale in 2024, After a $0.25 Nov Price F...

Dogecoin Sees 150+ $1M Transactions Amid Market Volatility

Bitcoin (BTC) Hits $71K, GME Price Soars Amid Mixed Movements in Top Assets

Inovasi Kripto: Staking di ETF Ethereum Hadir di Hong Kong!

EOS Solves Historical Blockchain Issues for dApp Developers

Join our free newsletter for daily crypto updates!