Shift

Bitcoin

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-rebounds-as-altcoins-gain-etf-dynamics-shift" rel="noopener noreferrer nofollow">Bitcoin Rebounds as Altcoins Gain, ETF Dynamics Shift</a> 
<a href="https://en.bitcoinhaber.net/bitcoin-soars-to-years-high-amid-etf-approval-hopes-and-market-liquidations" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price has once again surpassed $41,000, with altcoins also seeing gains over 5%. Following the approval of an ETF, BTC exceeded $49,000, but a subsequent surprise selloff of billions of dollars capped further price increases, indicating big investors are taking advantage of the increased demand liquidity.
Data from BitMEX Research indicates a slowdown in GBTC outflows, suggesting a market adjustment as GBTC trades at a neutral premium. The initial sell-offs were expected to be short-lived and are now showing signs of stabilization.
Other ETF issuers continue to attract demand, balancing outflows and potentially leading to a shift towards inflows. Investors might drive prices higher in anticipation of this scenario materializing in the coming days.
Firms like BlackRock, Fidelity, and others have not yet experienced a net outflow day, and with reserves exceeding 113,000 BTC, a positive scenario seems more dominant. ETFs have seen an inflow of $5.53 billion since their first trading day, whereas GBTC has hosted an outflow of $4.79 billion, still resulting in a net positive inflow of approximately $744 million.
Recent market movements have unsettled short positions, with over $66 million in short positions liquidated. JPMorgan analysts suggest that despite the potential for continued sell-off, the market’s balance could indicate a rise. Chris Burniske reiterated his view of a potential new low before a new all-time high, maintaining belief in the long-term trend but cautioning about volatility, with macro risks being a primary concern.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-rebounds-as-altcoins-gain-etf-dynamics-shift" rel="noopener noreferrer nofollow">Bitcoin Rebounds as Altcoins Gain, ETF Dynamics Shift</a></h5>

Bitcoin Rebounds as Altcoins Gain, ETF Dynamics Shift

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