Bitcoin ETF

Bitcoin

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BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-holds-steady-despite-volatility" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Holds Steady Despite Volatility</a><br></p>
<p style="text-align: justify">Bitcoin (BTC) currently stands at $64,380, with altcoins showing stability following a recent decline. Daily trading volume has plummeted by 50%, dropping below $50 billion, which accounts for today’s low market volatility. Prominent <a href="https://en.bitcoinhaber.net/cryptocurrency-market-observes-notable-price-movements" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto analyst</a> Thomas offers insights on the ongoing <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a> based on recent <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>. Should investors remain optimistic?</p>
<h2 id="what-drives-the-uptrend">What Drives the Uptrend?</h2>
<p style="text-align: justify">Since November 2022, cryptocurrency markets have seen substantial growth, with BTC hitting an all-time high and maintaining an upward trajectory. This movement mirrors historical patterns where BTC tends to rise after hitting lower lows during bear markets. Despite temporary declines, historical data suggests an overall upward trend.</p>
<p style="text-align: justify">Although the first quarter’s strong performance hasn’t persisted and many altcoins have fallen to levels seen when BTC was priced at $40,000, it doesn’t signal the end of the bull market.</p>
<h2 id="when-will-the-bull-market-peak">When Will the Bull Market Peak?</h2>
<p style="text-align: justify">Data from Farside Investors reveals consistent outflows from Bitcoin ETFs between June 13-21, with the largest outflow being $44 million on June 21. Despite this, BlackRock has shown resilience. Thomas, co-founder of ApolloSats, highlighted BlackRock’s continued holdings, noting zero outflows and the addition of 23 Bitcoin.</p>
<p style="text-align: justify">BlackRock boosted its total holdings to 295,457 BTC, adding about 3,894 BTC valued at approximately $276.19 million on June 5. Thomas draws parallels to previous Bitcoin halving cycles, suggesting the current decline aligns with historical patterns and predicting a stronger bull market ahead.</p>
<h2 id="practical-investor-insights">Practical Investor Insights</h2>
<ul>
 <li>Monitor Bitcoin ETF inflows and outflows for market sentiment.</li>
 <li>Track BlackRock’s BTC holdings as an indicator of institutional confidence.</li>
 <li>Observe RSI trends to gauge potential market reversals.</li>
</ul>
<p style="text-align: justify">Additionally, various analysts agree that the market hasn’t yet reached the bull peak by several metrics. The Relative Strength Index (RSI) shows a weak recovery from extremely low levels, suggesting a potential reversal in the coming days.</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-holds-steady-despite-volatility" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Holds Steady Despite Volatility</a></h5>

Bitcoin Holds Steady Despite Volatility

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