Bitcoin ETF

Bitcoin

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-predictions-surge-as-market-reacts-to-economic-developments/" data-wpel-link="internal">Bitcoin Price Predictions Surge as Market Reacts to Economic Developments</a> 
<a href="https://coin-turk.com/13x-oldu-bile-kripto-para-krali-icin-sasirtan-fiyat-tahminleri-pes-pese-geldi" data-wpel-link="internal">Bitcoin</a> price stands at $71,300 at the time of writing, with a significant portion of altcoins turning red. The decline’s primary cause is macroeconomic developments. We had mentioned earlier that the market could experience volatility this week on Tuesday due to the upcoming data release, potentially triggering sell-offs due to unexpectedly high inflation. And indeed, those who positioned themselves correctly managed to turn the volatility to their advantage. 
<h2 id="bitcoin-btc">Bitcoin (BTC)</h2> 
With the daily close approaching, <a href="https://en.coin-turk.com/bitcoin-payment-app-strike-enables-users-to-buy-bitcoin-with-bank-cards/" data-wpel-link="internal">Bitcoin</a> remains above $71,000, and the selling pressure that brought it down to $68,620 seems to have subsided for now. The Kobeissi Letter, from account X, wrote, “Do you think inflation is over?” A few days ago, we discussed the possibility of the Fed lowering interest rates this year due to ten factors. 
The analysis firm making this assessment talked about data that fuels inflation, which, after a period of decline, has started to rise again for months. If the market begins to accept this view, especially with the support of the latest inflation data, it could set the stage for a market bottom prior to the halving event. 
Returning to Kobeissi’s assessment, he wrote that the core services inflation, excluding housing, saw its “largest jump since September 2022, with a monthly increase of 0.7%.” This underscores the view that the fight against inflation is far from over. 
<h2 id="spot-bitcoin-etf">Spot Bitcoin ETF</h2> 
According to Arkham’s data, spot Bitcoin ETFs saw an influx of “55.78 thousand <a href="https://coin-turk.com/spot-bitcoin-etfler-son-durum-28-subat" data-wpel-link="internal">BTC</a> ($3.68 billion)” in the past week. This volume, nearing $10 billion daily, clearly reflected in the <a href="https://en.coin-turk.com/the-future-of-cryptocurrencies-glassnode-analyst-predicts-rise-in-crypto/" data-wpel-link="internal">BTC</a> price. Market analysts from Farside Investors shared the following data on platform X; 
<blockquote> 
 “Blackrock made a solid entry with $562 million, Fidelity with $215 million. The biggest surprise seems to have come from VanEck, with an influx of $118.8 million, nearly doubling their collection in a single day over the last two months. GBTC is trying to dampen this optimism with an outflow of $494 million. Thanks, Barry. Now they are falling below 400 thousand Bitcoins.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-326597 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/BTC-ETF-Girisleri.png" alt="" width="1063" height="1283"> 
BlackRock’s iShares Bitcoin Trust, IBIT, holds $14.76 billion worth of Bitcoin, and Fidelity is nearing a $10 billion accumulation. Hence, the total net inflow since launch day still reflects a high appetite for risk. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-predictions-surge-as-market-reacts-to-economic-developments/" data-wpel-link="internal">Bitcoin Price Predictions Surge as Market Reacts to Economic Developments</a></h5>

Bitcoin Price Predictions Surge as Market Reacts to Economic Developments

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