Bitcoin ETF

Bitcoin

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-surges-over-4-in-24-hours-signaling-potential-market-rebound/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surges Over 4% in 24 Hours, Signaling Potential Market Rebound</a> 
Bitcoin (BTC) price surged over 4% in the last 24 hours, reaching approximately $57,896 daily before falling to $56,870 during the European session on Tuesday. This rise indicates a potential reversal signal for Bitcoin in the near term as it climbs above $56,000.
<h2 id="losses-end-for-us-spot-bitcoin-etfs">Losses End for US Spot Bitcoin ETFs</h2>
Over the past two weeks, US-based spot Bitcoin ETFs experienced significant losses, causing BTC prices to drop to $52,000. However, the eight-day losing streak ended on Monday after US spot Bitcoin ETFs recorded a net cash inflow of approximately $28.72 million.
On Monday, Fidelity’s FBTC, Bitwise BITB, and ARK 21Shares Bitcoin ETF (ARKB) reported cash inflows of $28.6 million, $21.99 million, and $6.81 million, respectively. However, BlackRock’s IBIT and Grayscale’s GBTC closed the day with cash outflows of approximately $9 million and $22.76 million, respectively.
As a result of these developments, the total assets under management of US spot Bitcoin ETFs reached approximately $51.31 billion. Cash inflows to Hong Kong spot Bitcoin ETFs have nearly approached zero in recent weeks, indicating low demand from institutional investors in Asia. However, Japan’s Metaplanet Inc continues to accumulate more Bitcoin.
<h2 id="state-of-the-crypto-market">State of the Crypto Market</h2>
The <a href="https://en.coin-turk.com/bybits-main-mobile-app-removed-from-apples-app-store-in-india/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> is expected to enter an upward trend in the fourth quarter and continue this movement until the first half of 2025. The expectation of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">interest rate</a> cuts on September 18, ahead of the general elections in the US, could positively impact the crypto market.
<blockquote>
 Robert Kiyosaki: “The bond market is collapsing. Do you realize the world economy is based on debt? A bond is a debt, and the whole world revolves around it. This collapse signals deeper economic problems.”
</blockquote>
The US dollar index has been weakening recently, and this trend is expected to continue in the coming quarters. According to serial entrepreneur Robert Kiyosaki, investments in physical assets like gold and Bitcoin can help preserve capital in the long term amid the bond market collapse.
Meanwhile, the mainstream adoption of decentralized financial (DeFi) protocols could trigger the anticipated alt season in the near term. Additionally, Bitcoin dominance is forming a potential reversal pattern on the weekly timeframe, which will accelerate the rotation of cryptocurrencies to altcoins.
In conclusion, Bitcoin’s recent price movements and cash inflows into US spot Bitcoin ETFs have created a positive atmosphere in the crypto market. However, factors such as low demand in Hong Kong and the weakening US dollar will be decisive for the market’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future direction</a>. Investors should carefully monitor market dynamics and adjust their strategies accordingly.
The post <a href="https://en.coin-turk.com/bitcoin-surges-over-4-in-24-hours-signaling-potential-market-rebound/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Surges Over 4% in 24 Hours, Signaling Potential Market Rebound</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Bitcoin Surges Over 4% in 24 Hours, Signaling Potential Market Rebound

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