Bitcoin ETF

Bitcoin

Enigma

<p>Bitcoin, in a turbulent whirlwind, is currently flirting with the $61,000 mark, far from the dizzying heights reached in early March. The massive outflows of capital from newly created Bitcoin ETFs only serve to exacerbate its discomfort. Crypto analysts, faced with patchy data, struggle to make informed judgments.</p>
<h2 id="h-the-darkening-skies-of-bitcoin-the-etf-enigma">The Darkening Skies of Bitcoin: The ETF Enigma</h2>
<p>In this climate of uncertainty, CoinLupin, a prominent crypto analyst at CryptoQuant, expresses his concerns about <strong>a further plunge in bitcoin</strong>. The geopolitical tensions between Iran and Israel, coupled with massive liquidations, are fueling this descent into the abyss. CoinLupin fears that <strong>the crypto-queen <a href="https://www.cointribune.com/en/heres-why-bitcoin-could-drop-by-another-20/" target="_blank" rel="noopener noreferrer nofollow">might plummet to $50,000</a></strong>, given its high MVRV (Market Value to Realized Value) ratio, a sign of a valuation disconnected from its real value.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/btc?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#btc</a> ETF holders just dropped – not final, will see this expand over next 30 days <br><br>IBIT: <a href="https://t.co/e5Psn0a0yk" rel="noopener noreferrer nofollow">https://t.co/e5Psn0a0yk</a> <a href="https://t.co/nM53czxYhu" rel="noopener noreferrer nofollow">pic.twitter.com/nM53czxYhu</a></p>— Kelly Greer (@kellyjgreer) <a href="https://twitter.com/kellyjgreer/status/1780269567920488688?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 16, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption"><em>BTC ETF holders just took a hit – it’s not over, this will unfold over the next 30 days.</em>
 </figcaption>
</figure>
<p>The <a href="https://u.today/is-bitcoin-in-trouble-etfs-holders-number-plummet" target="_blank" rel="noopener noreferrer nofollow">alarming analysis by U°Today</a> casts a darker shadow over bitcoin. The <strong>initial figures of institutional holders of Bitcoin ETFs</strong> suggest <strong>a concerning decline</strong>. However, with data still preliminary, the full picture may emerge over the next 30 days. This <strong>opacity in data communication</strong> risks causing confusion and fueling fears about the stability of Bitcoin.</p>
<p>Nevertheless, these <strong>fluctuations in the number of BTC ETF holders</strong> do not necessarily portend long-term troubles for bitcoin. Financial markets are known for their volatility, subject to rapid changes in investor sentiment and positioning.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://accounts.binance.com/en/register?ref=35547494" target="_blank" rel="noopener noreferrer nofollow">Acheter ses premières cryptos avec Binance</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">Ce lien utilise un programme d’affiliation</a>
</div>
<p>Divergent reports can sometimes paint a misleading picture of the current situation, thus highlighting the <strong>importance of careful and cautious data analysis</strong>.</p>
<h2 id="h-bitcoin-between-resilience-and-volatility">Bitcoin: Between Resilience and Volatility</h2>
<p>BTC is currently oscillating around the $61,000 threshold, <strong>navigating between resistance and retracement</strong>. In this waltz of hesitation, observant watchers are keeping a close eye on <strong>support levels, particularly around $58,000</strong>, with an additional safety net at $50,000. But what does the future hold for the pioneer cryptocurrency?</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<p>The movements in the number of Bitcoin ETF holders appear to reflect the <strong>current uncertainties rather than mass flight</strong>. Yet between short-term jitters and long-term trends, the distinction is vital. Bitcoin, <strong>accustomed to weathering storms</strong>, often bounces back after periods of instability.</p>
<div class="affiliate-button"><span class="affiliate-button__link obfuscated-link" data-href="https://www.cointribune.com/newsletters/" data-target="_blank" data-rel="noreferrer noopener">Découvre notre newsletter gratuite</span> <span class="affiliate-button__disclaimer obfuscated-link" data-href="https://www.cointribune.com/en/sponsored-content/" data-target="_blank" data-rel="noreferrer noopener">Ce lien utilise un programme d’affiliation</span>
</div>
<p>Certainly, the current situation of bitcoin is not a crisis. Its tumultuous ecosystem has weathered worse. Investors understand that these highs and lows are an integral part of the market. Still, it will be critical to closely observe the trends over the coming months to grasp the true trajectory of Bitcoin ETFs and the mindset of their holders.</p>
<p>In these troubled waters, a glimmer of hope may well emerge, borne by the legendary resilience of the cryptocurrency.</p>

Bitcoin: Between serenity and turmoil, BTC ETF holders are disoriented

Table of Contents

Cointribune EN

Other articles published on Apr 18, 2024

Maximize Your Crypto: How to Stake $FIO Tokens for Rewards

Virgil Griffith, Former Ethereum developer, pleads for leniency in sanctions violation sentence

Bitcoin Price Analysis : 6 Bitcoin Price Pullbacks from the Bear Market Analysed

Key Bitcoin Metrics Hit Peak Levels Not Seen Since November 2021

Dogecoin Faces Challenges in the Meme Coin Market

Crypto Analyst Bluntz Predicts Potential Rises for Solana and Near Protocol

Join our free newsletter for daily crypto updates!