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**Bitcoin Stagnant Due to ETF Outflow Reaching Rp28 Trillion**
Bitcoin $BTC remains stagnant at the level of US$89,000 for the last 3 days, according to CoinMarketCap, Saturday (24/01).
However, the catalyst is due to the outflow of ETFs since January 16, where it reached over US$1.7 billion or Rp1.7 trillion.
Furthermore, for the combined outflow on January 16 and January 23, Fidelity Wise Origin Bitcoin Fund #FBTC leads the outflow of US$654 million, while the iShares Bitcoin Trust ETF (IBIT) owned by BlackRock is around US$535 million.
Then, there is Grayscale Bitcoin Trust #gbtc at around US$215 million, Bitwise Bitcoin ETF (BITB) US$155 million, and ARK 21Shares Bitcoin ETF (ARKB) S$144 million.
Finally, VanEck Bitcoin #HOLD outflow of US$12 million, and Franklin Bitcoin #ETF $BTC US$10 million. In addition, there is Coinshares Bitcoin ETF (BRRR) amounting to US$3 million.
Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR)
$ETH
Bitcoin $BTC remains stagnant at the level of US$89,000 for the last 3 days, according to CoinMarketCap, Saturday (24/01).
However, the catalyst is due to the outflow of ETFs since January 16, where it reached over US$1.7 billion or Rp1.7 trillion.
Furthermore, for the combined outflow on January 16 and January 23, Fidelity Wise Origin Bitcoin Fund #FBTC leads the outflow of US$654 million, while the iShares Bitcoin Trust ETF (IBIT) owned by BlackRock is around US$535 million.
Then, there is Grayscale Bitcoin Trust #gbtc at around US$215 million, Bitwise Bitcoin ETF (BITB) US$155 million, and ARK 21Shares Bitcoin ETF (ARKB) S$144 million.
Finally, VanEck Bitcoin #HOLD outflow of US$12 million, and Franklin Bitcoin #ETF $BTC US$10 million. In addition, there is Coinshares Bitcoin ETF (BRRR) amounting to US$3 million.
Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR)
$ETH
📊 Summary of US Bitcoin Spot ETF Data on July 8
According to data, on July 8, Eastern Time, the total net inflow of US Bitcoin Spot ETF was US$295 million.
🔹 Grayscale ETF GBTC
Single-day net inflow: US$25.0753 million Historical net outflow: US$18.578 billion
🔹 BlackRock ETF IBIT
Single-day net inflow: US$187 million Historical total net inflow: US$17.926 billion
🔹 Fidelity ETF FBTC
Single-day net inflow: US$61.5378 million Historical total net inflow: US$9.422 billion
As of press time, the total net asset value of US Bitcoin Spot ETF is US$49.32 billion, and the ETF net asset ratio (market value to total Bitcoin market value) is 4.45%, and the historical cumulative net inflow has reached US$15.058 billion.
#BTC☀ #etf以太坊 #gbtc #ibit #FBTC $BTC $ETH $ETC
According to data, on July 8, Eastern Time, the total net inflow of US Bitcoin Spot ETF was US$295 million.
🔹 Grayscale ETF GBTC
Single-day net inflow: US$25.0753 million Historical net outflow: US$18.578 billion
🔹 BlackRock ETF IBIT
Single-day net inflow: US$187 million Historical total net inflow: US$17.926 billion
🔹 Fidelity ETF FBTC
Single-day net inflow: US$61.5378 million Historical total net inflow: US$9.422 billion
As of press time, the total net asset value of US Bitcoin Spot ETF is US$49.32 billion, and the ETF net asset ratio (market value to total Bitcoin market value) is 4.45%, and the historical cumulative net inflow has reached US$15.058 billion.
#BTC☀ #etf以太坊 #gbtc #ibit #FBTC $BTC $ETH $ETC
#gbtc #blast #SHIB/𝗨𝗦𝗗𝗧
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Coin Circle Information
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Pudgy Penguins' Parent Company Acquires Web3 Creator Platform Frame to Build New Layer 2
Consensys Sued, U.S. SEC Takes Staking Again
Farcaster Launches In-App USDC Payment Function
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CryptoQuant Research Director: Bitcoin Miner Capitulation Indicator Is Equivalent to December 2022 Levels
Ethereum Network Gas Drops to 1 Gwei.
Yesterday GBTC Net Outflow of $27.2 Million
Aperture Finance Token APTR Has Been Listed on Bybit Earn, staking APR up to 50%
Jupiter Lianchuang: DAO will vote on JUP supply reduction in July, there may be LFG Launchpad
#3friends View
1. #Grayscale #gbtc Fund outflow of $16.1 million:
2. The UK will hold a general election on July 4, and the Conservative Party may lose power;
3. The asset management company modified its #ETF file;
4. Joseph Lubin expects Ethereum ETF application to be approved;
5. $BTC has a pin-down phenomenon,
6. US lawmakers require SEC-FINRA to provide Prometheum $ETH custody records;
7. The US Securities and Exchange Commission submits proposed rule changes:
8. US stocks closed down;
9. Artificial intelligence token prices rose:
10. Bitcoin prices are ready for greater volatility.
1. #Grayscale #gbtc Fund outflow of $16.1 million:
2. The UK will hold a general election on July 4, and the Conservative Party may lose power;
3. The asset management company modified its #ETF file;
4. Joseph Lubin expects Ethereum ETF application to be approved;
5. $BTC has a pin-down phenomenon,
6. US lawmakers require SEC-FINRA to provide Prometheum $ETH custody records;
7. The US Securities and Exchange Commission submits proposed rule changes:
8. US stocks closed down;
9. Artificial intelligence token prices rose:
10. Bitcoin prices are ready for greater volatility.
Fidelity's FBTC beat Grauscale's GBTC by equity
Starting from the launch of #ETFvsBTC on January 11, 2024, the fund #gbtc from Grauscale was recognized as the constant leader in capital outflow. Because of this, it even lost its status as the world's largest exchange-traded fund that tracks the dynamics of BTC. However, over the past few days the situation has changed. According to the analytical platform FarSide, four out of five days of trading #BTCETFSPOT funds recorded withdrawals. On Monday, the total outflow amounted to $64.9 million, on Tuesday - $200.4 million, on Thursday - $226.2 million, on Friday - $189.9 million. And only Wednesday, June 12, became an exception. On this day, the capital inflow in #ETFs exceeded $100.8 million. It is interesting that GBTC from Grauscale lost its status as the leader in capital outflow on Thursday and Friday. These days, $61.5 million and $52.3 million were withdrawn from the fund, respectively. Then, the outflow of funds from FBTC from Fidelity amounted to $106.4 million on Thursday and $80.1 million on Friday. This is the first time that the Fidelita fund has received negative results for two days in a row. Against the backdrop of almost a week of outflows from ETFs, Bitcoin fell to $66,000, which was the lowest price this month.#BTC $BTC $BNB $ETH
#gbtc #SHIBUSDT #AVAX
Coin Circle News
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Pudgy Penguins' Parent Company Acquires Web3 Creator Platform Frame to Build New Layer 2
Consensys Sued, U.S. SEC Takes Staking Again
Farcaster Launches In-App USDC Payment Function
U.S. Judge Allows SEC to Continue Most of the Lawsuits against Binance
Blast Launches Governance System and Launches First Proposal of "Enabling Points for BLAST Holders"
Coinbase Applies to List SHIB, LINK, AVAX, XLM and DOT Futures Contracts
CryptoQuant Research Director: Bitcoin Miner Capitulation Indicator Is Equivalent to December 2022 Levels
Ethereum Network Gas Drops to 1 Gwei.
GBTC Net Outflow of $27.2 Million Yesterday
Aperture Finance Token APTR Has Been Listed on Bybit Earn, staking APR up to 50%
Jupiter Lianchuang: DAO will vote on JUP supply reduction in July, there may be LFG Launchpad
Coin Circle News
U.S. Treasury Department Releases 2025 Crypto Tax System
Pudgy Penguins' Parent Company Acquires Web3 Creator Platform Frame to Build New Layer 2
Consensys Sued, U.S. SEC Takes Staking Again
Farcaster Launches In-App USDC Payment Function
U.S. Judge Allows SEC to Continue Most of the Lawsuits against Binance
Blast Launches Governance System and Launches First Proposal of "Enabling Points for BLAST Holders"
Coinbase Applies to List SHIB, LINK, AVAX, XLM and DOT Futures Contracts
CryptoQuant Research Director: Bitcoin Miner Capitulation Indicator Is Equivalent to December 2022 Levels
Ethereum Network Gas Drops to 1 Gwei.
GBTC Net Outflow of $27.2 Million Yesterday
Aperture Finance Token APTR Has Been Listed on Bybit Earn, staking APR up to 50%
Jupiter Lianchuang: DAO will vote on JUP supply reduction in July, there may be LFG Launchpad
Bitcoin briefly fell below $63,000:
According to the latest data, the capital flows of US spot Bitcoin and Ethereum ETFs on September 23 are as follows:
Spot Bitcoin ETF:
GBTC (Grayscale Bitcoin Trust) had a net outflow of $40.3 million. BTC had a net inflow of $8.4 million. ARKB (Ark Bitcoin ETF) had no capital flows.
Spot Ethereum ETF:
ETHE (Grayscale Ethereum Trust) had a net outflow of $80.6 million. Neither ETH nor CETH had any inflows or outflows.
Although Bitcoin briefly fell below $63,000, ETF capital flows show that different capital parties have different operating strategies on Bitcoin and Ethereum, which may bring further volatility to the market.
#BTC☀ #etf以太坊 #gbtc #ARKB #ETH🔥🔥🔥🔥
According to the latest data, the capital flows of US spot Bitcoin and Ethereum ETFs on September 23 are as follows:
Spot Bitcoin ETF:
GBTC (Grayscale Bitcoin Trust) had a net outflow of $40.3 million. BTC had a net inflow of $8.4 million. ARKB (Ark Bitcoin ETF) had no capital flows.
Spot Ethereum ETF:
ETHE (Grayscale Ethereum Trust) had a net outflow of $80.6 million. Neither ETH nor CETH had any inflows or outflows.
Although Bitcoin briefly fell below $63,000, ETF capital flows show that different capital parties have different operating strategies on Bitcoin and Ethereum, which may bring further volatility to the market.
#BTC☀ #etf以太坊 #gbtc #ARKB #ETH🔥🔥🔥🔥
$BTC
Exclusive revelation!
GBTC outflows plummeted, hitting a new low in March, only $27.2 million!
GBTC outflows hit a new low
📉 Outflows:
This week's outflows: $27.2 million
Set a record: the lowest level in three months
📊 Comparison data:
Compared with the average weekly outflow: more than 95% lower
Since early June: the lowest point (previously $5.7 million)
Grayscale Bitcoin Trust (GBTC) hit a three-month low of $27.2 million this week, far below its average weekly outflows and reaching its lowest point since early June.
#gbtc #BTC☀ #BTC走势预测 #比特币年底能否突破10万美元？ #美国大选如何影响加密产业？
Exclusive revelation!
GBTC outflows plummeted, hitting a new low in March, only $27.2 million!
GBTC outflows hit a new low
📉 Outflows:
This week's outflows: $27.2 million
Set a record: the lowest level in three months
📊 Comparison data:
Compared with the average weekly outflow: more than 95% lower
Since early June: the lowest point (previously $5.7 million)
Grayscale Bitcoin Trust (GBTC) hit a three-month low of $27.2 million this week, far below its average weekly outflows and reaching its lowest point since early June.
#gbtc #BTC☀ #BTC走势预测 #比特币年底能否突破10万美元？ #美国大选如何影响加密产业？
📊 BlackRock's spot #BitcoinETF is now the largest, surpassing Grayscale's $GBTC after a $102M inflow.
$IBIT holds nearly $20B in $BTC , while $GBTC has $19.7B after $105M in outflows.
#BlackRock #GRAYSCALE #gbtc #ibit
$IBIT holds nearly $20B in $BTC , while $GBTC has $19.7B after $105M in outflows.
#BlackRock #GRAYSCALE #gbtc #ibit
📈 US Bitcoin ETFs Experience Strong Inflows Led by #BlackRock
US Bitcoin ETFs have seen a five-day streak of positive inflows, totaling $246 million. Notably, BlackRock's iShares Bitcoin Trust (IBIT) stands out, pulling in $184 million on Wednesday alone. 🚀
Despite a tumultuous market, investor confidence in Bitcoin ETFs appears to be growing. While BlackRock dominates the scene, other funds like Bitwise’s #BitcoinETFs (BITB) managed to attract only $2 million, with significant outflows from Fidelity’s $BTC Fund ($33 million) and ARK Invest’s ETF ($47 million). 💰
👀 The shift in investor preferences suggests a move towards larger, more established funds, as seen with IBIT's substantial gains compared to the struggles of #grayscale ’s Bitcoin Trust (GBTC), which has lost over $20 billion since converting to an #ETF✅ .
#gbtc
US Bitcoin ETFs have seen a five-day streak of positive inflows, totaling $246 million. Notably, BlackRock's iShares Bitcoin Trust (IBIT) stands out, pulling in $184 million on Wednesday alone. 🚀
Despite a tumultuous market, investor confidence in Bitcoin ETFs appears to be growing. While BlackRock dominates the scene, other funds like Bitwise’s #BitcoinETFs (BITB) managed to attract only $2 million, with significant outflows from Fidelity’s $BTC Fund ($33 million) and ARK Invest’s ETF ($47 million). 💰
👀 The shift in investor preferences suggests a move towards larger, more established funds, as seen with IBIT's substantial gains compared to the struggles of #grayscale ’s Bitcoin Trust (GBTC), which has lost over $20 billion since converting to an #ETF✅ .
#gbtc
Bitcoin ETF Market Sees $1.4B Surge in Three Days, BlackRock's Leads the Charge
#Bitcoin❗ ETF Market Sees $1.4B Surge in Three Days, BlackRock's Leads the Charge
As the crypto market recovers, the #BitcoinETF💰💰💰 market is performing really well with the cumulative net inflow for the 11 #BitcoinETFs recording 459 million dollars on October 16. The cumulative net inflow over the past 193 days has hit $20 billion. Apart from the grayscale #gbtc , the total net cumulative inflow jumps to $40 billion. In the past three days of trading, the ETFs have brought in nearly 1.4 billion dollars. The biggest Bitcoin ETF in the market, BlackRock’s IBIT, has added 11,331 Bitcoin ETFs worth $762 million, which hits a total of 380,971 Bitcoins worth $25.7 billion. This accounts for almost 33% of all US spot $BTC
ETF holdings.
#MemeCoinTrending
As the crypto market recovers, the #BitcoinETF💰💰💰 market is performing really well with the cumulative net inflow for the 11 #BitcoinETFs recording 459 million dollars on October 16. The cumulative net inflow over the past 193 days has hit $20 billion. Apart from the grayscale #gbtc , the total net cumulative inflow jumps to $40 billion. In the past three days of trading, the ETFs have brought in nearly 1.4 billion dollars. The biggest Bitcoin ETF in the market, BlackRock’s IBIT, has added 11,331 Bitcoin ETFs worth $762 million, which hits a total of 380,971 Bitcoins worth $25.7 billion. This accounts for almost 33% of all US spot $BTC
ETF holdings.
#MemeCoinTrending
BlackRock IBIT's trading volume reached $1.24 billion, while Grayscale GBTC's trading volume was $526 million.
According to news on April 17, the trading volume data of Bitcoin spot ETFs on April 16 are as follows:
BlackRock IBIT: $1.24 billion
Grayscale GBTC: $526 million
Fidelity FBTC: $421 million
ProShares BITO: $273 million
ARKB: $97 million
BITB: $79.81 million
#gbtc #比特币 #FBTC #ARKB
According to news on April 17, the trading volume data of Bitcoin spot ETFs on April 16 are as follows:
BlackRock IBIT: $1.24 billion
Grayscale GBTC: $526 million
Fidelity FBTC: $421 million
ProShares BITO: $273 million
ARKB: $97 million
BITB: $79.81 million
#gbtc #比特币 #FBTC #ARKB
Recent data from #Bloomberg shows a significant shift in #BitcoinETFs! Grayscale's #gbtc faced over $4 billion in outflows in just 8 days post-SEC's approval of new ETFs, while rivals like BlackRock's #IBIT and Fidelity's #FBTC saw nearly $5 billion inflows. This trend signals a changing investor preference in the Bitcoin ETF market. $BTC
Leading up to the approval of spot #ETFs in January, speculation surged, leading Long-Term Holders ( #LTH ) to either cash out for profit or reallocate their holdings into new #ETFs. products.
This resulted in a significant decrease in LTH supply balance by approximately 299.5K #BTC since November, from a peak of 14.996M BTC. Notably, analysis of #gbtc flows, with around 661k BTC inflow and 151.5K #BTC outflows in 2021, suggests that remaining LTH supply, totaling 148K #BTC, is being spent by investors.
This trend aligns with previous research indicating LTHs begin distributing their holdings as the market approaches all-time high prices.
#Write2Earn #The_Bitcoinbull
by @Bitcoin Bull
This resulted in a significant decrease in LTH supply balance by approximately 299.5K #BTC since November, from a peak of 14.996M BTC. Notably, analysis of #gbtc flows, with around 661k BTC inflow and 151.5K #BTC outflows in 2021, suggests that remaining LTH supply, totaling 148K #BTC, is being spent by investors.
This trend aligns with previous research indicating LTHs begin distributing their holdings as the market approaches all-time high prices.
#Write2Earn #The_Bitcoinbull
by @Bitcoin Bull
Bitcoin (BTC) Remains Strongest Asset for Institutions: MicroStrategy's Michael Saylor Shows
A recent data sheet provided by Michael Saylor, a renowned advocate for Bitcoin and the CEO of MicroStrategy, further underscores the dominance of digital gold over other assets.
A meticulous glance at the asset class total returns sheet, spanning from 2011 to 2023, showcases Bitcoin's exceptional performance. In almost every year since 2011, Bitcoin has outperformed other traditional investment vehicles. While there have been moments of volatility and dips in the crypto market, BTC has showcased resilience and an upward trajectory that no other asset class can parallel.
Its cumulative return from 2011-2023 is a jaw-dropping 1,120,785%, with an annualized return of 147.5%. These numbers are staggering, especially when compared to other asset classes like the U.S. Nasdaq 100 or U.S. Large Caps, which, though solid performers, lag significantly behind Bitcoin's return rate.
Another insightful dimension to this conversation is MicroStrategy's Bitcoin portfolio. From the provided tracker, it is evident that MicroStrategy, under Saylor's leadership, has been bullish on Bitcoin. The firm's current holdings stand at an impressive 158,245 BTC, valued at approximately $5.43 billion. Their portfolio indicates strategic purchases, capitalizing on Bitcoin's dips, and subsequently leveraging its surges. Such a sizable investment from a major institution serves as testament to the increasing faith in Bitcoin's long-term potential and its role as a store of value. The data also depicts MicroStrategy's approach to Bitcoin as one of consistent accumulation. The green purchase markers on the graph illustrate a pattern of buying the dips, signifying a long-term bullish stance on the cryptocurrency. This conviction in Bitcoin is further reflected in the company's total dollar cost average and the present market price of Bitcoin, indicating healthy returns on their investments.
#BTC #Meme #etf #gbtc #gbtc
A recent data sheet provided by Michael Saylor, a renowned advocate for Bitcoin and the CEO of MicroStrategy, further underscores the dominance of digital gold over other assets.
A meticulous glance at the asset class total returns sheet, spanning from 2011 to 2023, showcases Bitcoin's exceptional performance. In almost every year since 2011, Bitcoin has outperformed other traditional investment vehicles. While there have been moments of volatility and dips in the crypto market, BTC has showcased resilience and an upward trajectory that no other asset class can parallel.
Its cumulative return from 2011-2023 is a jaw-dropping 1,120,785%, with an annualized return of 147.5%. These numbers are staggering, especially when compared to other asset classes like the U.S. Nasdaq 100 or U.S. Large Caps, which, though solid performers, lag significantly behind Bitcoin's return rate.
Another insightful dimension to this conversation is MicroStrategy's Bitcoin portfolio. From the provided tracker, it is evident that MicroStrategy, under Saylor's leadership, has been bullish on Bitcoin. The firm's current holdings stand at an impressive 158,245 BTC, valued at approximately $5.43 billion. Their portfolio indicates strategic purchases, capitalizing on Bitcoin's dips, and subsequently leveraging its surges. Such a sizable investment from a major institution serves as testament to the increasing faith in Bitcoin's long-term potential and its role as a store of value. The data also depicts MicroStrategy's approach to Bitcoin as one of consistent accumulation. The green purchase markers on the graph illustrate a pattern of buying the dips, signifying a long-term bullish stance on the cryptocurrency. This conviction in Bitcoin is further reflected in the company's total dollar cost average and the present market price of Bitcoin, indicating healthy returns on their investments.
#BTC #Meme #etf #gbtc #gbtc
Morgan Stanley's $270 million investment in Bitcoin through Grayscale's GBTC trust signifies a notable shift in mainstream finance's acceptance of cryptocurrency. This move places the bank among the major holders of GBTC and aligns with a broader trend of institutional investors showing increasing interest in Bitcoin.
#Bitcoin2024 #gbtc #Garyscale #MemeWatch2024
#Bitcoin2024 #gbtc #Garyscale #MemeWatch2024
#GBTC Grayscale Trust related address's exchange transfer situation:
15 hours ago, the address bc1q9... transferred 744.956 BTC to Coinbase Prime, worth 70.64 million USD.
15 hours ago, the address bc1qj... transferred 772.751 BTC to Coinbase Prime, worth 73.28 million USD.
15 hours ago, the address 1461L... transferred 700.002 BTC to Coinbase Prime, worth 66.03 million USD.
Total: Grayscale Trust related addresses transferred a total of 2217.709 BTC to Coinbase Prime, with a total value of approximately 210 million USD, suspected sale.
15 hours ago, the address bc1q9... transferred 744.956 BTC to Coinbase Prime, worth 70.64 million USD.
15 hours ago, the address bc1qj... transferred 772.751 BTC to Coinbase Prime, worth 73.28 million USD.
15 hours ago, the address 1461L... transferred 700.002 BTC to Coinbase Prime, worth 66.03 million USD.
Total: Grayscale Trust related addresses transferred a total of 2217.709 BTC to Coinbase Prime, with a total value of approximately 210 million USD, suspected sale.
Markus Thielen Predicts Bitcoin Surge Past $50,000: Unveiling the Rally's Secrets!
Bitcoin Bulls on the Run: Bitcoin could soon cross a price level of $50k, as reported by 10x Research.GBTC and FTX Selloff Coming to an End: The selloff in GBTC and FTX seems to be coming to an end.Technical Indicators Confirm Upcoming Move: Technical indicators confirm the upcoming move in Bitcoin's price.
Markus Thielen, the renowned crypto analyst and researcher, has been making waves in the Bitcoin community with his recent predictions. Just days ago, he boldly forecasted a bottom of $38,000 for Bitcoin, capturing the attention of investors worldwide. Now, Thielen's foresight once again takes center stage as he predicts that Bitcoin could soon soar past the $50,000 mark, potentially reaching a two-year high in price.
The anticipation surrounding Bitcoin's ascent is further fueled by the upcoming halving event, slated for April 2024. This event, characterized by a reduction in miner rewards, is expected to significantly boost Bitcoin's demand, further propelling its price upward.
Thielen's analysis, rooted in the Elliott wave theory, provides valuable insights into Bitcoin's price movements. According to this theory, price fluctuations occur in distinct wave patterns, with each wave representing alternating highs and lows. Thielen's interpretation of Bitcoin's Elliott Wave pattern indicates a promising trajectory, with the recent completion of the third and fourth waves setting the stage for a bullish resurgence.
Despite encountering resistance at the psychological threshold of $50,000, Bitcoin's momentum remains strong. Technical indicators, including the Relative Strength Index (RSI), signal a favorable outlook for Bitcoin's price movement. With RSI levels nearing the threshold for significant price shifts, investors are optimistic about Bitcoin's potential to surpass current resistance levels.
Moreover, Thielen sheds light on the recent market dynamics, attributing the previous price drop in Bitcoin to factors such as sell-offs by entities like the Grayscale Bitcoin Trust. However, with outflows from Grayscale's Bitcoin ETF stabilizing and overall ETF inflows showing positive trends, market sentiment is increasingly bullish.
Looking ahead, the impending halving event and strategic whale accumulation strategies are expected to drive Bitcoin's upward trajectory. Historical data illustrates the substantial returns Bitcoin has historically delivered following halving events, reaffirming investors' confidence in its long-term potential.
While technical analysis points towards a bullish breakout, prudent risk management is advised. Establishing stop-loss levels and closely monitoring support and resistance zones can help mitigate potential downside risks in this highly volatile market environment.
As the crypto market continues to evolve, it's essential for investors to stay informed and exercise caution. While Thielen's predictions offer valuable insights, it's crucial to conduct thorough research and make well-informed financial decisions tailored to individual risk tolerances and investment objectives.
#Bitcoin #BullMarket #FTX #gbtc #cryptocurrency
$BTC
Markus Thielen, the renowned crypto analyst and researcher, has been making waves in the Bitcoin community with his recent predictions. Just days ago, he boldly forecasted a bottom of $38,000 for Bitcoin, capturing the attention of investors worldwide. Now, Thielen's foresight once again takes center stage as he predicts that Bitcoin could soon soar past the $50,000 mark, potentially reaching a two-year high in price.
The anticipation surrounding Bitcoin's ascent is further fueled by the upcoming halving event, slated for April 2024. This event, characterized by a reduction in miner rewards, is expected to significantly boost Bitcoin's demand, further propelling its price upward.
Thielen's analysis, rooted in the Elliott wave theory, provides valuable insights into Bitcoin's price movements. According to this theory, price fluctuations occur in distinct wave patterns, with each wave representing alternating highs and lows. Thielen's interpretation of Bitcoin's Elliott Wave pattern indicates a promising trajectory, with the recent completion of the third and fourth waves setting the stage for a bullish resurgence.
Despite encountering resistance at the psychological threshold of $50,000, Bitcoin's momentum remains strong. Technical indicators, including the Relative Strength Index (RSI), signal a favorable outlook for Bitcoin's price movement. With RSI levels nearing the threshold for significant price shifts, investors are optimistic about Bitcoin's potential to surpass current resistance levels.
Moreover, Thielen sheds light on the recent market dynamics, attributing the previous price drop in Bitcoin to factors such as sell-offs by entities like the Grayscale Bitcoin Trust. However, with outflows from Grayscale's Bitcoin ETF stabilizing and overall ETF inflows showing positive trends, market sentiment is increasingly bullish.
Looking ahead, the impending halving event and strategic whale accumulation strategies are expected to drive Bitcoin's upward trajectory. Historical data illustrates the substantial returns Bitcoin has historically delivered following halving events, reaffirming investors' confidence in its long-term potential.
While technical analysis points towards a bullish breakout, prudent risk management is advised. Establishing stop-loss levels and closely monitoring support and resistance zones can help mitigate potential downside risks in this highly volatile market environment.
As the crypto market continues to evolve, it's essential for investors to stay informed and exercise caution. While Thielen's predictions offer valuable insights, it's crucial to conduct thorough research and make well-informed financial decisions tailored to individual risk tolerances and investment objectives.
#Bitcoin #BullMarket #FTX #gbtc #cryptocurrency
$BTC
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