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The post <a href="https://coinpedia.org/news/bitcoin-price-prediction-etf-inflows-plug-the-gap-and-keep-price-on-track-for-70k/" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: ETF Inflows Plug the Gap and Keep Price on Track for $70k</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
While the long-term outlook for Bitcoin and Ethereum remains bullish, driven by institutional interest and significant ETF inflows, the short-term presents volatility. The movement of Bitcoin by Mt. Gox and the launch of Ethereum ETFs could introduce temporary selling pressure. <a href="https://www.youtube.com/watch?v=yZUp1E6o9L8" rel="noopener noreferrer nofollow">Analyst Josh of Crypto World </a>has sounded the alarm and said that a bearish signal is now flashing on the Bitcoin chart. This warning comes amidst a backdrop of short-term bearish signals that have been influencing Bitcoin’s price movements.
Bitcoin Price Analysis
The Bitcoin price charts are presenting a mixed bag of signals. On the 4-day Bitcoin chart, there hasn’t been much change despite a short-term pullback. The daily chart shows a bounce back in the DXY (US Dollar Index), which typically signals bearish trends for Bitcoin if the DXY continues to rise.
Currently, Bitcoin is facing resistance in the $67,000 to $68,000 range, based on previous support and resistance levels and the volume profile indicator. A confirmed breakout above $68,300 with sustained candle closes could push Bitcoin towards its all-time high, between $72,000 and $74,000. However, short-term support exists around $63,000 to $64,000, a critical level to watch for any further rejections.
Bitcoin ETF Inflows: A Silver Lining?
Despite the bearish signals, there is a silver lining. On Monday, there was a massive net inflow into spot Bitcoin ETFs, amounting to nearly $485.9 million. This inflow represents significant buying pressure, which is positive for Bitcoin’s price. However, this is just one piece of the puzzle affecting Bitcoin’s price dynamics.
<h3 class="wp-block-heading" id="h-liquidity-levels-to-watch">Liquidity Levels to Watch</h3>
Analyzing the Bitcoin liquidation heat map, several key liquidity levels stand out. The price of Bitcoin is likely to move towards these levels:
<ul class="wp-block-list">
 <li>Significant liquidity at $65,600 to $65,700, just below the current price.</li>
 <li>Additional liquidity around $63,000, providing major support.</li>
 <li>Resistance liquidity at approximately $68,200, marking a crucial level for potential upward movement.</li>
</ul>

Bitcoin Price Prediction: ETF Inflows Plug the Gap and Keep Price on Track for $70k

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