Jerome Powell

Bitcoin ETF

Bitcoin

Spot

Grayscale Bitcoin Trust

Spot Bitcoin ETFs saw nearly $295 million in net inflows on Monday, recording inflows for two consecutive days and starting the week with massive buying. This indicates institutional investors are buying heavily despite the <a href="https://coingape.com/just-in-bitcoin-drops-as-german-government-transfers-4900-btc/" target="_blank" rel="noopener">German govt BTC selloff</a> and key macroeconomic events this week. 
<h2 id="spot-bitcoin-etfs-inflow-hints-at-upcoming-market-rally">Spot Bitcoin ETFs Inflow Hints At Upcoming Market Rally</h2> 
Spot Bitcoin ETFs in the U.S. recorded a total net inflow of $294.8 million, the highest inflow in 21 days. It follows as institutional investors continue to buy the dip. Crypto asset investment products globally saw a $441 million inflow last week as crypto weakness by Mt Gox and the German Government selling pressure were seen as a buying opportunity, reported <a href="https://coingape.com/solana-outperforms-ethereum-amid-441m-money-inflow-into-crypto/" target="_blank" rel="noopener">CoinShares</a>. 
According to Bloomberg and Farside Investors, BlackRock’s&nbsp;iShares Bitcoin ETF (IBIT) recorded $187.2 in inflow, the highest inflow not seen in the last few weeks. Following the latest inflow, BlackRock’s net inflow hit over $17.9 billion and <a rel="nofollow" href="https://www.ishares.com/us/products/333011/ishares-bitcoin-trust" target="_blank">BTC holding</a> is valued at nearly $18&nbsp;billion. 
Fidelity Bitcoin ETF (FBTC) saw $61.5 in inflow on Monday, with the total inflow reaching $9.42 billion. Bitwise Bitcoin ETF (BITB), Ark 21Shares (ARKB) Bitcoin ETF, and VanEck Bitcoin ETF (HODL) also saw inflows of $11 million, $8.4 million, and $1.6 million, respectively. Other spot Bitcoin ETFs saw zero net inflows. 
Notably, Grayscale Bitcoin Trust (GBTC) also recorded inflows of $25.1 million after consecutive outflows in the previous days. GBTC buys 450 BTC, indicating strong demand from institutional investors. 
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GSBSo-hbMAA7VnD?format=png&amp;name=900x900" alt="Image"> 
Also Read: <a title="Matrixport Reveals Ethereum ETF Launch Timeline, Bernstein Targets ETH To $6,600" href="https://coingape.com/matrixport-reveals-ethereum-etf-launch-timeline-bernstein-targets-eth-to-6600/" target="_blank" rel="bookmark noopener">Matrixport Reveals Ethereum ETF Launch Timeline, Bernstein Targets ETH To $6,600</a> 
<h2 id="btc-price-to-rally-above-60k">BTC Price To Rally Above $60k</h2> 
Institutional buying signals high chances of Bitcoin rally to above $60k. Experts are overall bullish on BTC price and believe Mt. Gox creditors are not likely to sell their Bitcoin in this bull market. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 In 6 months, US-listed Bitcoin ETFs brought in over $14.7B in net inflows. Key takeaway? Interest in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and digital assets remains high. 
 Token prices and market caps fluctuate, but the long-term fundamentals of our industry is strong. 
 Stay focused and keep building! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 — Richard Teng (@_RichardTeng) <a href="https://twitter.com/_RichardTeng/status/1810558866280808841?ref_src=twsrc%5Etfw">July 9, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener">BTC price</a> has jumped over 3% in the last 24 hours, with the price currently trading at $57,603 as traders adjusted positions based on Wall Street’s bullish outlook on rate cuts. The 24-hour low and high are $55,240 and $58,131, respectively. Furthermore, the trading volume has increased by 36% in the last 24 hours, indicating a rise in interest among traders. 
Derivatives market data shows massive buying by futures and options traders. BTC futures open interest across exchanges soared 2.60% in the last 24 hours. Buying is recorded on CME and Kraken, which implies higher demand in the US. 
However, traders must remain cautious due to the Fed Chair <a href="https://coingape.com/us-cpi-inflation-fed-chair-testimony-shape-bitcoin-altcoins-trading-this-week/" target="_blank" rel="noopener">Jerome Powell</a> speech, CPI and PPI inflation data due this week. 
Also Read: <a href="https://coingape.com/what-could-be-the-maximum-impact-of-mt-gox-creditors-selling-their-bitcoins/" target="_blank" rel="noopener">What Could be The Maximum Impact of Mt. Gox Creditors Selling Their Bitcoins?</a> 
The post <a href="https://coingape.com/spot-bitcoin-etf-inflow-high-institutions-buying-heavily/">Spot Bitcoin ETFs Inflow At 3-Week High, Institutions Buying Heavily Ahead Key Events</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Spot Bitcoin ETFs Inflow At 3-Week High, Institutions Buying Heavily Ahead Key Events

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Coingape News Media

Ďalšie články zverejnené 9. 7. 2024

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