Bitcoin

Bull Market

Million

Rekt

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>The Bitcoin spot ETF Flow turned positive and had a total net inflow of $108 Million for nine consecutive days.</a> </li> 
 <li> <span>2</span> <a>Rekt Capital highlights that the BTC is following its historical pattern and could skyrocket in the upcoming bull rally.</a> </li> 
</ul>  
<p>On May 23, there were positive ETF flows reported by Wu Blockchain. The Bitcoin spot ETF had a total net inflow of $108 Million for nine consecutive days, while Grayscale ETF GBTC had an outflow of $13.7209 Million.</p> 
<p>Additionally, the BlackRock ETF IBIT saw an inflow of $88.9516 Million, and the Fidelity ETF FBTC had an inflow of $19.1224 Million. Despite the continued inflows, the price of Bitcoin fell from $70k to $67k and is currently sitting at $67.8k.</p> 
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  <p lang="en" dir="ltr">On May 23, the Bitcoin spot ETF had a total net inflow of $108 million, nine consecutive days of inflows, Grayscale ETF GBTC had an outflow of $13.7209 million, BlackRock ETF IBIT had an inflow of $88.9516 million, and Fidelity ETF FBTC had an inflow of $19.1224 million.… <a href="https://t.co/hG0i8n0ojN">pic.twitter.com/hG0i8n0ojN</a></p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1793853859737244115?ref_src=twsrc%5Etfw">May 24, 2024</a>
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<p>This drop is rumored to be due to a large hedge fund dumping its spot stack to close a large trade. Furthermore, an Ethereum ETF has been approved, but there is no confirmed date for it to start trading.</p> 
<h2 class="wp-block-heading" id="strong-analysts-are-positive-on-bitcoin-strong"><strong>Analysts are Positive on Bitcoin&nbsp;</strong></h2> 
<p>The pseudonymous crypto trader Rekt Capital is optimistic about Bitcoin and suggests that it could reach its peak in the current cycle around mid-September or mid-October 2025.</p> 
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  <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a><br><br>In the 2015-2017 cycle, Bitcoin peaked 518 days after the Halving<br><br>In the 2019-2021 cycle, Bitcoin peaked 546 days after the Halving<br><br>If history repeats and the next Bull Market peak occurs 518-546 days after the Halving…<br><br>That would mean Bitcoin could peak in this cycle… <a href="https://t.co/KSX4e9RSzQ">pic.twitter.com/KSX4e9RSzQ</a></p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1793646898160582929?ref_src=twsrc%5Etfw">May 23, 2024</a>
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<p>Rekt pointed out that in the 2015-2017 cycle, <a href="https://www.thecoinrepublic.com/2024/05/21/bitcoin-price-bounces-back-is-the-75k-target-closer-now/" target="_blank" rel="noreferrer noopener">Bitcoin </a>peaked 518 days after the Halving, and in the 2019-2021 cycle, it peaked 546 days after the Halving. Based on this pattern, if history repeats itself, Bitcoin might peak in the mentioned timeframe.</p> 
<p>Rekt Capital also noted that Bitcoin is currently approximately 190 days ahead in this cycle. Therefore, the longer Bitcoin consolidates after the Halving, the more it could align with the traditional Halving cycle.</p> 
<p>However, Bitcoin is facing weakness on the technical chart. It took rejection from the upper trendlines at $67249 at the time of writing with a market cap of $1.32 Trillion. Furthermore, it was trading above the key moving averages showing that the trend is still positive despite the weakness.</p> 
<h3 class="wp-block-heading" id="strong-the-crypto-community-is-positive-about-king-crypto-strong"><strong>The Crypto Community is Positive About King Crypto&nbsp;</strong></h3> 
<p>Despite the weakness in the price of king crypto BTC the crypto community is optimistic and excited for it and is giving their predictions and opinions in the Rekt capital comment section.</p> 
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  <img loading="lazy" decoding="async" width="600" height="535" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-310.png" alt="" class="wp-image-206784" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-310.png 600w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-310-300x268.png 300w" sizes="(max-width: 600px) 100vw, 600px">
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<p>An X user commented that Bitcoin is going to 80k and above as a next move. Another user commented that exciting times were ahead for Bitcoin! If history repeats itself, we might see the peak of the next Bull Market in the range of 518-546 days after the Halving. Hodlers, get ready for a wild ride!</p>

Bitcoin Spot ETF In Focus; Analyst Predicts BTC Will Skyrocket Soon

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