Bitcoin

US-based Bitcoin exchange-traded funds (ETFs) have experienced an unprecedented influx of more than $17 billion in investments, primarily due to the influence of BlackRock's IBIT.  
The presence of <a href="https://optimisus.com/news/crypto-news/bitcoin-whales-reach-their-highest-holdings-in-2-years/" rel="noopener noreferrer nofollow">Bitcoin</a> whales has diminished the downward pressure on selling, which has played a role in maintaining Bitcoin's price stability above $67,000. On July 17th, 11 Bitcoin ETFs in the US experienced a combined daily net inflow of $53.35 million.  
This marks the ninth consecutive day of positive inflows for these ETFs. Nevertheless, this amount was significantly less than the $422 million in net inflows observed on July 16. BlackRock's IBIT maintained its leading position, with the highest net inflows of the day amounting to $110.37 million and attaining a trading volume of $1.21 billion. Fidelity's FBTC was the sole fund to record positive net inflows on July 17, with an addition of $2.83 million.  
Grayscale's GBTC and Bitwise's BITB experienced net outflows of $53.86 million and $6 million, respectively. Seven other funds, such as ARK Invest and 21Shares' ARKB, recorded no inflows for the day.  
The aggregate trading volume for US spot Bitcoin funds on July 17 amounted to $1.79 billion, representing a significant decline from the peak in March, where daily volumes surpassed $8 billion.  
This unprecedented influx of funds demonstrates the growing recognition and incorporation of Bitcoin into conventional investing portfolios. <a href="https://optimisus.com/news/crypto-news/bitcoin-etfs-saw-a-record-18-billion-inflow-between-july-15-19-2024/" rel="noopener noreferrer nofollow">Bitcoin whales have reduced their selling activity</a> since Bitcoin has experienced a recent increase in value and managed to maintain a price of over $67,000.  
Julio Moreno, the head of research at CryptoQuant, said that the realized profits are significantly lower compared to March and May, during which Bitcoin surpassed $71,000. Traders are intently analyzing if Bitcoin can remain above the important support level of $65,000 and speculating on its ability to hit $69,000. Crypto trader Milkybull Crypto predicts that Bitcoin's next target to fulfill the weekly megaphone price pattern is $69,000, with the price pattern's ultimate goal falling between $84,000 and $88,000. According to CoinGlass statistics, if the price reaches $69,000, it would result in the elimination of $261.9 million worth of short positions. Although the price has not surpassed $67,000 since June 12, traders are observing multiple positive signals indicating that the upward trend may persist. 
The post <a href="https://optimisus.com/news/11-us-spot-bitcoin-etfs-accumulate-over-17-billion/" rel="noopener noreferrer nofollow">11 US-spot Bitcoin ETFs accumulate over $17 billion</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

11 US-spot Bitcoin ETFs accumulate over $17 billion

Optimisus

Andra artiklar publicerade 22 juli 2024

US Govt Dumps $4M In Bitcoin Again, Another BTC Selloff Ahead?

Bitcoin Rises Boost Investor Sentiment

2024’s Biggest Crypto Opportunity: Don’t Miss Out on This Market Breakthrough

Tether is used by criminals way more than you think

MoonBag Presale Puts Investors’ Finances in Order as Slothana Loses Its Charm

Cardano (ADA) Soars To New Levels: IOG Unveils Explosive Growth In Key Metrics

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!