Republican

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when

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<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin is holding the $61k level, amidst political support and optimistic predictions.</li> 
 <li>BTC ETFs recorded $31 million inflows, after 7 consecutive days of outflows.</li> 
</ul> 
<p>Bitcoin is trading above $61,000 today following the recent price drops triggered by the miner capitulation event.</p> 
<p>The miners’ sell-off was also expedited by the recent Mt. Gox announcement regarding refunding creditors in July.</p> 
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<p>Earlier, today, BTC reached prices above $62,000 and now the coin is up by almost 1% in the past 24 hours.</p> 
<h2 id="bitcoin-sees-political-support">Bitcoin sees political support</h2> 
<p>Despite the recent price volatility, BTC remains surrounded by optimistic price predicitons amidst intense political support. For instance, Trump is reportedly <a href="https://crypto.ro/en/news/trump-likely-to-address-bitcoin-2024-convention-in-nashville-indicates-axios/">considering speaking</a>&nbsp;at the Bitcoin 2024 event in Nashville, Tennessee.</p> 
<p>Also, according to the latest reports, Florida’s Republican representative, Matt Gaetz, introduced a bill that could potentially revolutionize the way federal income taxes are paid.</p> 
<p>The legislation would mandate the US Secretary of the Treasury to implement a system that accepts Bitcoin for federal income tax payments. According to Gaetz, such an<a href="https://crypto.ro/en/news/congressman-gaetz-advocates-for-bitcoin-payment-option-with-irs-tax-bills/"> innovative legislation</a> would modernize the American tax system.</p> 
<p>Allowing taxpayers to use BTC for federal tax payments would bring innovation, efficiency, and more flexibility to US citizens.</p> 
<h2 id="bitcoin-could-reach-25-40-world-adoption-in-2030">Bitcoin could reach 25%-40% world adoption in 2030</h2> 
<p>Recently, Bitcoin on-chain analyst Willy Woo also expressed his <a href="https://crypto.ro/en/news/bitcoin-remains-surrounded-by-optimistic-predictions-despite-increased-selling-pressure-risks/">optimism</a> regarding BTC’s price, saying that we will see a recovery after the miner capitulation.</p> 
<p>On June 25, he shared a post saying that the financial world now believes that BTC is a fast-emerging asset class and people see BTC reaching a price 10 times from where it’s now, rivaling the US dollar in size and becoming a reserve asset.</p> 
<p>Woo <a href="https://x.com/woonomic/status/1805637325763781047" rel="nofollow" target="_blank">noted</a> that all this is possible only when BTC ranges between 25-40% of world adoption which he believes is possible in 2030.</p> 
<p><a href="https://x.com/woonomic/status/1805710275259036127/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GQ8rTB4WoAEG_D8?format=jpg&amp;name=4096x4096" alt="" width="2264" height="1758" title="Bitcoin Above $61k, As BTC ETFs Shift Outflow Trend With $31M Inflows 12"></a></p> 
<h2 id="bitcoin-etfs-record-31-million-inflows">Bitcoin ETFs record $31 million inflows</h2> 
<p>It’s also worth noting the fact that following 7 consecutive days of outflows, BTC ETFs recorded $31 million in inflows on June 25, according to SoSoValue <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">data</a>.</p> 
<p>Grayscale’s BTC ETF, GBTC saw $30 million in outflows, and Ark Invest and 21Shares’ BTC ETF, ARKB recorded $6 million in outflows.</p> 
<p>Fidelity’s FBTC saw $49 million in inflows, Bitwise’s BITB recorded $15 million in inflows, and VanEck’s HODL saw $4 million in inflows as well.</p> 
<figure id="attachment_45658" aria-describedby="caption-attachment-45658" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/06/26-iunie-etf.png"><img loading="lazy" decoding="async" class="wp-image-45658 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/26-iunie-etf.png" alt="SoSoValue" width="1633" height="691" title="Bitcoin Above $61k, As BTC ETFs Shift Outflow Trend With $31M Inflows 13" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/26-iunie-etf.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/06/26-iunie-etf-300x127.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/26-iunie-etf-1024x433.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/06/26-iunie-etf-768x325.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/26-iunie-etf-750x317.png 750w, https://crypto.ro/en/wp-content/uploads/2024/06/26-iunie-etf-1140x482.png 1140w" sizes="(max-width: 1633px) 100vw, 1633px"></a>
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  SoSoValue
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</figure> 
<p>The other BTC ETFs in the US did not record any inflows or outflows on June 25.</p>

Bitcoin Above $61k, As BTC ETFs Shift Outflow Trend With $31M Inflows

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