empty
18.03.2024 06:41 PM
Bitcoin: ETF inflows reach new ATH

The cryptocurrency market is once again in a phase of strengthening after a very volatile weekend, during which the price of Bitcoin significantly dropped after reaching a new all-time high of $68,208.

Following a sharp decline to $64,528 on Sunday, the Bitcoin price forecast indicates a resumption of bullish pressure, confirmed by investors' willingness to buy on the dip.

ETF Inflow Volume Reaches a New All-Time High (ATH)

The net inflow volume of Bitcoin ETFs continues to grow as more institutional investors turn to new investment opportunities. SoSoValue data shows an impressive rise to $12.15 billion—the highest cumulative net inflow.

BlackRock's IBIT leads with the highest daily net inflow, amounting to $139 million on Friday. On the other hand, Grayscale's GBTC experiences the largest outflow of funds—$139 million. Other ETF operators also demonstrate active growth, including Fidelity's FBTC, with a net daily inflow volume of $155 million.

This image is no longer relevant

Major Crypto Companies Update BTC Forecasts

The current CEO of Binance, Richard Teng, who took office in November 2023, believes that the price of Bitcoin could potentially reach $80,000 by the end of the year.

Teng believes that "as supply continues to shrink and demand continues to grow," BTC will be trading in a bullish trend in 2024.

Bitcoin is among the select assets that have reached record highs since the beginning of the bullish trend in the fourth quarter of last year, especially in light of interest in Bitcoin ETFs. In addition to Binance, other companies also view Bitcoin and the entire market optimistically.

For example, Standard Chartered has revised its annual Bitcoin forecast to $150,000. Institutional investors, including family offices and charitable foundations, are expected to start allocating a portion of their portfolios to ETF purchases, which, in turn, will increase demand.

The Bitcoin halving is also an event that is likely to lead to rapid growth in Bitcoin to new highs. This event occurs once every four years. Halving controls coin inflation by halving the reward for miners per block.

Why Bitcoin Could Reach $70,000

Bitcoin is hovering slightly below the opening level of the previous day after strengthening above the $68,000 support level. Despite the sudden price drop over the past weekend, bulls managed to regain control, preventing an extremely bearish turning point in the market.

Based on the current technical structure, Bitcoin has the potential to rise above $70,000 this week and approach the all-time high.

Some of the key levels to watch for investors include immediate support at $68,000 and the 20-day exponential moving average (EMA), which is near $68,300.

Several four-hour candle closes above these two key levels will give bulls an advantage. On the other hand, a breakthrough above $70,000 could lead to a new wave of growth driven by FOMO, aiming to reach new all-time highs around $80,000.

If the price of Bitcoin closes below $68,000, the outlook may begin to lean towards selling, creating new uncertainty, especially considering expectations of recovery ahead of the upcoming halving event.

Other support areas below $68,000 to keep in mind include $66,000, $64,000, and the 200-day EMA, which is near $61,909.

Investment Products in Cryptocurrencies Reached a New Peak

Last week, they recorded a record weekly inflow of over $2.7 billion, reaching $2.9 billion. The inflow this week increased the total volume since the beginning of the year to $13.2 billion, surpassing the entire inflow in 2021 of $10.6 billion.

Transaction volumes are mainly concentrated in Bitcoin. Transaction volumes have maintained their record levels from the previous week, reaching $43 billion, which accounts for 47% of the total global Bitcoin volume. However, after price corrections over the weekend, the total value of global ETPs dropped to $97 billion.

At the regional level, inflows in the U.S. amounted to $2.95 billion, while outflows in other regions were less significant. Nevertheless, countries such as Canada, Germany, Sweden, and Switzerland recorded a total outflow of $78 million last week.

Bitcoin alone saw inflows of $2.86 billion just last week, accounting for 97% of all inflows since the beginning of the year. Additionally, short-term transactions with Bitcoin showed the largest inflow in a year for the fifth consecutive week, totaling $26 million.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Recomendaciones para operar en el mercado de criptomonedas el 14 de marzo

El Bitcoin y Ethereum se consolidan en canales, creando condiciones reales para una mayor caída, aunque muchos expertos insisten en que los mínimos ya han sido alcanzados

Miroslaw Bawulski 10:17 2025-03-14 UTC+2

Recomendaciones para operar en el mercado de criptomonedas el 13 de marzo

El Bitcoin y Ethereum están atrapados dentro de nuevos canales. Por un lado, esto es positivo, ya que la presión observada a principios de semana ya no está presente

Miroslaw Bawulski 07:24 2025-03-13 UTC+2

El Bitcoin se prepara para volver a subir

Mientras el Bitcoin y Ethereum se recuperan activamente de sus mínimos anuales, insinuando que aún no ha terminado y que el mercado alcista sigue en pie, la senadora Cynthia Lummis

Jakub Novak 14:35 2025-03-12 UTC+2

El Bitcoin depende del sentimiento del mercado bursátil de EE. UU.

El mercado de criptomonedas se ha recuperado ligeramente después de otra venta masiva que ocurrió a principios de la semana. Sin embargo, la situación sigue siendo bastante tensa

Jakub Novak 07:29 2025-03-12 UTC+2

Recomendaciones para operar en el mercado de criptomonedas el 12 de marzo

El Bitcoin y Ethereum se han recuperado ligeramente después de otra liquidación y la actualización de mínimos anuales. El pánico observado tanto en el mercado bursátil estadounidense como

Miroslaw Bawulski 07:29 2025-03-12 UTC+2

Criptomercado: razones de la caída y perspectivas

Criptomercado: no hay signos fundamentales de un cambio en la tendencia global. Los grandes inversores están asegurando ganancias después del significativo crecimiento de las criptomonedas el año pasado

Jurij Tolin 15:10 2025-03-11 UTC+2

Análisis del par BTC/USD. El 11 de marzo. ¿La caída del Bitcoin ha terminado?

La estructura de ondas en el gráfico de 4 horas para el par BTC/USD es completamente clara. Después de la finalización de una tendencia alcista compuesta por cinco ondas completas

Chin Zhao 07:35 2025-03-11 UTC+2

Bitcoin y Ethereum en nocaut

El mercado de las criptomonedas volvió a caer, sin poder resistir la presión de los vendedores, quienes, en pánico, continuaron deshaciéndose de los activos de riesgo inmediatamente después

Jakub Novak 07:35 2025-03-11 UTC+2

Recomendaciones para operar con Ether el 10 de marzo en el sistema ICT.

La situación en el Ether no es simple, pero interesante. Lo primero que hay que recordar a los traders es que si el Bitcoin sigue cayendo, el Ether seguirá cayendo

Paolo Greco 07:29 2025-03-10 UTC+2

Recomendaciones para operar con el Bitcoin para el 10 de marzo por ICT.

El Bitcoin volvió a caer el domingo. Desde el 20 de enero, la primera criptomoneda del mundo no ha hecho más que caer. A estas alturas, no podemos decir

Paolo Greco 07:29 2025-03-10 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.