Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/max-keiser-reiterates-400000-bitcoin-prediction/" data-wpel-link="internal">Max Keiser Reiterates $400,000 Bitcoin Prediction</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/max-keiser-400-000-dolarlik-bitcoin-tahminini-yineledi" data-wpel-link="internal">Bitcoin</a> price</strong> was expected to rise yesterday, but this anticipation did not materialize. Following the Fed meeting, the stock markets did not recover as expected. Although BlackRock had a good start to the day, sales in crypto exchanges quickly dampened the enthusiasm.</p> 
<h2 style="text-align: justify" id="spot-bitcoin-etf-report">Spot Bitcoin ETF Report</h2> 
<p style="text-align: justify">On Thursday, Grayscale’s <strong>Spot <a href="https://en.coin-turk.com/unveiling-bitmexs-mysterious-wallet-a-deep-dive-into-the-massive-bitcoin-transfer/" data-wpel-link="internal">Bitcoin</a> ETF</strong> experienced a net outflow of $358.8 million from GBTC. According to Farside data, outflows were consistently over $350 million on the 18th, 19th, 20th, and 21st of March. The good news is that net outflows from GBTC gradually weakened with each new day throughout the week.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-331558 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/21-Mart-Spot-Bitcoin-ETF.png" alt="" width="782" height="825"></p> 
<p style="text-align: justify">BlackRock started the day well with volumes increasing rapidly in the first few hours, raising investors’ hopes. However, this was not sustained, and the daily volume remained at $1.7 billion. We have witnessed days when this figure was reached within a few hours. Fidelity’s ETF was limited to $697 million.</p> 
<p style="text-align: justify"><strong><a href="https://coin-turk.com/dev-analiz-sirketi-herkes-yaniliyor-dedi-bitcoin-buraya-gidecek" data-wpel-link="internal">Cryptocurrency</a> commentator</strong> anlcnc1 wrote the following from account X;</p> 
<blockquote> 
 <p style="text-align: justify">“The Bitcoin ETF market had negative net outflows for three consecutive days this week, as the sales of GBTC were not fully met, and there had been no negative outflows in March apart from this week. In February, there was only one negative net outflow of -$35 million. Except for the first three days of this week, all days had positive inflows, and Grayscale’s sales were met.”</p> 
</blockquote> 
<h2 style="text-align: justify" id="cryptocurrency-market-assessment">Cryptocurrency Market Assessment</h2> 
<p style="text-align: justify">Shock sales for GBTC made themselves apparent in the first month. In other words, those who bought with a negative premium up to six months ago quickly converted their easy gains to cash in the early period or switched to alternatives like BlackRock.</p> 
<p style="text-align: justify">As we have often stated, the high management fee was determined by Grayscale for this reason (reserves shrunk by 42.3% from launch day to date). Knowing that the outflows from GBTC would be strong, the company did not enter into competition like others in this regard in order to earn more from the process. Net outflows will definitely continue for GBTC; what’s important is whether BlackRock and Fidelity can maintain their dominance in entries as in previous days and continue to drive positive cumulative entries.</p> 
<p style="text-align: justify">Investors’ attention will be on the upcoming inflation data and the volumes in the first 3-4 hours of the US market opening in the coming period.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/max-keiser-reiterates-400000-bitcoin-prediction/" data-wpel-link="internal">Max Keiser Reiterates $400,000 Bitcoin Prediction</a></h5>

Max Keiser Reiterates $400,000 Bitcoin Prediction

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