Hope

Bitcoin

Momentum

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-etfs-gain-momentum-in-the-crypto-market/" data-wpel-link="internal">Bitcoin ETFs Gain Momentum in the Crypto Market</a><br></p>
<p style="text-align: justify">According to recent data, a significant period is unfolding in the <strong>crypto currency</strong> world. BlackRock’s iShares <a href="https://coin-turk.com/spot-bitcoin-etfler-son-durum-ve-beklentiler-28-ocak" data-wpel-link="internal">Bitcoin</a> Trust (IBIT) has recorded an impressive entry of $192 million, drawing attention. Bitwise’s <a href="https://en.coin-turk.com/bitcoin-bulls-and-bears-on-the-verge-of-extinction-analyst-claims/" data-wpel-link="internal">Bitcoin</a> ETF follows with an entry of $11.1 million, while Fidelity Wise Origin Bitcoin Fund (FBTC) secured the third spot with an entry of $4.6 million.</p> 
<h2 style="text-align: justify" id="bitcoin-etfs-surge-grayscale-s-outflows-continue">Bitcoin ETFs Surge, Grayscale’s Outflows Continue</h2> 
<p style="text-align: justify">On Thursday, Bitcoin ETFs showed a strong momentum with a total entry of $91.3 million. However, the market value of the largest cryptocurrency is currently trading just above the $71,000 level.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-339686 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/bitcoin-etf-coin-turk-com-.png" alt="" width="588" height="457"></p> 
<p style="text-align: justify">Although Wednesday offered a glimmer of hope to the bulls, <strong>Grayscale</strong>‘s outflows continue. On Thursday, Grayscale sold off about $125 million worth of Bitcoin, a figure significantly higher than the previous day’s $17.5 million outflow. However, compared to the $303 million lost by Grayscale’s GBTC on Monday, the latest figure is relatively small.</p> 
<h2 style="text-align: justify" id="crypto-community-awaits-with-hope">Crypto Community Awaits with Hope</h2> 
<p style="text-align: justify">The <a href="https://coin-turk.com/tum-kripto-para-piyasasini-sarsmisti-iflasiyla-sok-eden-kripto-sirketi-celsius-dugum-cozuluyor" data-wpel-link="internal">crypto currency</a> community is hopeful for an end to Grayscale’s series of exits. According to Grayscale CEO Mike Sonnenshein’s predictions, the company’s flagship fund, <strong>GBTC</strong>, is in the process of reaching a balance. Sonnenshein attributed most of the sales to bankruptcy proceedings.</p> 
<p style="text-align: justify">While Bitcoin ETFs may not be the driving force behind Bitcoin’s price movements, many believe that Grayscale’s exits are fueling a bearish sentiment. Moreover, as algorithmic trading protocols tend to react to daily ETF flows, this could influence Bitcoin’s price performance.</p> 
<h2 style="text-align: justify" id="excitement-for-bitcoin-etfs-in-the-crypto-market">Excitement for Bitcoin ETFs in the Crypto Market</h2> 
<p style="text-align: justify">This activity in the crypto currency market continues to be closely monitored by investors and observers. Developments regarding Grayscale’s exits and ETFs’ performance in the coming days will play a significant role in determining the direction of the crypto currency market.</p> 
<p style="text-align: justify">If the exits cease, there is a possibility of a rally in Bitcoin’s price. Discussions even suggest that six-figure price levels could be on the horizon. However, one reality remains: Bitcoin ETFs have brought vitality to the crypto currency market. If this vitality continues, <strong><a href="https://coin-turk.com/dogecoin-teknik-analiz-bu-fiyattan-doge-alinir-mi" data-wpel-link="internal">altcoins</a></strong> will also be significantly affected by the rise in Bitcoin’s price.</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/bitcoin-etfs-gain-momentum-in-the-crypto-market/" data-wpel-link="internal">Bitcoin ETFs Gain Momentum in the Crypto Market</a></h5>

Bitcoin ETFs Gain Momentum in the Crypto Market

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