Bitcoin ETF

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<img width="1920" height="1080" src="https://coingape.com/wp-content/uploads/2024/02/bitcoin_dollar_AdobeStock_192921653-e1668180853437.jpeg" class="attachment-full size-full wp-post-image" alt="Bitcoin price" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/02/bitcoin_dollar_AdobeStock_192921653-e1668180853437.jpeg 1920w, https://coingape.com/wp-content/uploads/2024/02/bitcoin_dollar_AdobeStock_192921653-e1668180853437-300x169.jpeg 300w, https://coingape.com/wp-content/uploads/2024/02/bitcoin_dollar_AdobeStock_192921653-e1668180853437-1224x689.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/02/bitcoin_dollar_AdobeStock_192921653-e1668180853437-768x432.jpeg 768w, https://coingape.com/wp-content/uploads/2024/02/bitcoin_dollar_AdobeStock_192921653-e1668180853437-1536x864.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/02/bitcoin_dollar_AdobeStock_192921653-e1668180853437-678x381.jpeg 678w, https://coingape.com/wp-content/uploads/2024/02/bitcoin_dollar_AdobeStock_192921653-e1668180853437-150x84.jpeg 150w" sizes="(max-width: 1920px) 100vw, 1920px">
<p>The newly launched spot Bitcoin ETFs have attracted billions of dollars with fresh inflows making new highs on a daily basis. Earlier this week on Tuesday, BlackRock’s iShares Bitcoin ETF (IBIT) alone <a href="https://coingape.com/breaking-spot-bitcoin-etfs-saw-largest-single-day-inflow-btc-rally-to-60k/" target="_blank" rel="noopener">attracted ~$500 million</a> in a single day. The recent survey from QCP Capital suggests that global liquidity has been rotating back into Bitcoin ETFs. Thus, it expects the BTC price to touch at least $70,000 by March end.</p> 
<h3 id="bitcoin-etf-inflows-will-push-btc-at-new-all-time-highs">Bitcoin ETF Inflows Will Push BTC At New All-Time Highs</h3> 
<p>Bitcoin (BTC) has once again breached the $52,000 mark for the first time in over two years, fueled by remarkable inflows from BTC spot exchange-traded funds (ETFs) averaging between $500 million to $650 million per day. This influx translates to a daily acquisition of 10,000 to 13,000 BTC.</p> 
<p>Anticipation mounts for a sustained influx as global liquidity channels into these spot ETFs, <a rel="nofollow" href="https://t.me/QCPbroadcast/1134" target="_blank">says</a> QCP Capital. Notably, institutions like Fidelity have signaled a significant shift by allocating 1-3% of their All-in-One conservative ETFs to cryptocurrencies, underscoring the mainstream acceptance of the crypto asset class. On the other hand, we are already witnessing Bitcoin ETFs have started <a href="https://coingape.com/bitcoin-etf-inflows-show-gold-disruption-can-come-sooner-than-expected/" target="_blank" rel="noopener">eating into</a> the market share of the world’s largest asset class Gold.</p> 
<p>Beyond spot market activity, there’s been a surge in BTC call option purchases. In the current week alone, nearly $10 million USD has been expended on premiums for call options with strike prices ranging from 60,000 to 80,000, expiring between April and December.</p> 
<p>With these substantial capital inflows, analysts at QCP Capital anticipate Bitcoin could easily surpass its all-time highs by the conclusion of March. This clearly reflects growing investor confidence and bullish sentiment in the crypto market.</p> 
<h3 id="us-equity-market-supports-btc-price-rally">US Equity Market Supports BTC Price Rally</h3> 
<p>A day after facing selling pressure amid unsatisfied CPI data for January, Wall Street indices recouped the loses partially on Wednesday, February 14. The unexpected inflation increase complicated the Federal Reserve’s future rate cut decisions, leaving investors to carefully analyze the future movements.</p> 
<p>On Wednesday, the S&amp;P 500 surged by 1%, reclaiming the 5,000 milestone. On Wednesday, major tech giants led the upward momentum of US stocks. Furthermore, the NYSE Fang+ index, comprising companies like Nvidia Corp, Microsoft Corp, and Apple Inc, surged by 2%, doubling the gains of the overall market.</p> 
<p>As a result, the crypto market also continued with its upward momentum. Bitcoin has extended its gains by 6% in the last 24 hours and currently trading at $52,431. Moreover, some of the top ten altcoins have gained anywhere between 5-10% on Wednesday.</p> 
<p>The post <a href="https://coingape.com/qcp-capital-bitcoin-all-time-high-spot-bitcoin-etfs/">QCP Capital: New Bitcoin All-Time High Coming By March-End, Thanks to Bitcoin ETFs</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

QCP Capital: New Bitcoin All-Time High Coming By March-End, Thanks to Bitcoin ETFs

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