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<p><a href="https://captainaltcoin.com/this-bitcoin-pattern-signals-80k-is-the-next-target-for-btc-price/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> is currently testing the 200-day simple moving average, a key level for confirming its upward trend. Historically, failing to reclaim this level has led to corrections, as seen in 2020, 2018, and 2014.</p>
<p>Furthermore, Bitcoin ETFs have had substantial inflows: on September 19, 2024, $158 million into Bitcoin and $5.2 million into Ethereum. These inflows show increased investor interest since they follow the 0.5% interest rate drop by the Federal Reserve.</p>
<h3 class="wp-block-heading" id="strong-bitcoin-testing-the-200-day-sma-strong"><strong>Bitcoin Testing the 200-Day SMA</strong></h3>
<p>Crypto analyst Ali pointed out that Bitcoin is once again testing the 200-day SMA, a crucial indicator for confirming a sustained uptrend.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> is once again testing the 200-day SMA, a critical level for confirming the bull run. <br><br>Historically, failures to reclaim this support, as seen in 2020, 2018, and 2014, led to significant corrections. Watch closely—rejection here could signal trouble for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>! <a href="https://t.co/WWJgSHSvCd" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/WWJgSHSvCd</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1836962233978606018?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 20, 2024</a>
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<p>Ali noted in his tweet that earlier failures to hold this level often set off corrections, hence this is a crucial field of observation. A rejection here could indicate some negative aspects of Bitcoin.</p>
<p>The SMA for 200 days acts as a long-term indication; breaking above it could carry on the positive momentum. If Bitcoin falls short of this degree, though, it might suffer more losses.</p>
<h3 class="wp-block-heading" id="strong-etf-inflows-for-bitcoin-and-ethereum-strong"><strong>ETF Inflows for Bitcoin and Ethereum</strong></h3>
<p>Spot On Chain reported that <a href="https://coinpedia.org/crypto-live-news/bitcoin-etf-inflows-surge-to-158-3m/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> recorded $158 million in inflows, with Ethereum ETFs seeing $5.2 million. This shift occurred after the Federal Reserve cut interest rates by 0.5%, contributing to positive net flows for both assets.</p>
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Spot ETF: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e2.png" alt="🟢" class="wp-smiley" style="height: 1em; max-height: 1em;">$158M to <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> and <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e2.png" alt="🟢" class="wp-smiley" style="height: 1em; max-height: 1em;">$5.2M to <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f5d3.png" alt="🗓" class="wp-smiley" style="height: 1em; max-height: 1em;"> Sep 19, 2024<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> The net flows for both BTC and ETH ETFs came back strongly positive, with no outflows, on the day following the <a href="https://twitter.com/hashtag/Fed?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Fed</a>'s 0.5% interest rate cut.<br><br>Follow <a href="https://twitter.com/spotonchain?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@spotonchain</a> and check out the latest updates about <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a>… <a href="https://t.co/au0v05CrGB" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/au0v05CrGB</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1836975540064113126?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 20, 2024</a>
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<p>The inflows demonstrate increased institutional interest in Bitcoin and Ethereum, reinforcing their position in the market. The lack of outflows suggests investor confidence, particularly after the recent economic policy changes.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/is-solana-sol-price-set-for-a-move-toward-800/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Is Solana (SOL) Price Set for a Move Toward $800?</em></strong></a></p>
<h3 class="wp-block-heading" id="strong-bitcoin-s-price-action-strong"><strong>Bitcoin’s Price Action</strong></h3>
<p>Per CoinGecko data at publication, <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price reached $63,646.37</a>, backed by a daily trading volume of over $43 billion. The price has risen by nearly 10% over the past seven days, reflecting a strong market recovery. Ethereum also experienced inflows, solidifying its standing as a top altcoin.</p>
<p>Despite the recent rally, analyst Ali warns that Bitcoin’s price remains at a critical point. If it fails to hold above the 200-day SMA, a correction may follow, making the coming days pivotal for Bitcoin’s price trajectory.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-price-is-testing-crucial-level-for-confirming-the-uptrend-as-btc-etfs-see-massive-inflows/" rel="noopener noreferrer nofollow">Bitcoin Price Is Testing Crucial Level For Confirming The Uptrend as BTC ETFs See Massive Inflows</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Price Is Testing Crucial Level For Confirming The Uptrend as BTC ETFs See Massive Inflows

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