bullish

Bitcoin ETF

Bitcoin

when

Spot

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-price-leaps-over-4-in-24-hours" data-wpel-link="internal">Bitcoin Price Leaps Over 4% in 24 Hours</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/analysis-of-bitcoins-momentum-and-potential-shift-in-investor-sentiment" data-wpel-link="internal">Bitcoin</a> (BTC) experienced a significant price surge of over 4% in the past 24 hours, reaching a peak of approximately $57,896 before settling at $56,870 during Tuesday’s European session. This uptick suggests a short-term bullish reversal for Bitcoin as it maintains levels above $56,000.</p> 
<h2 id="end-of-loss-streak-for-us-spot-bitcoin-etfs">End of Loss Streak for US Spot Bitcoin ETFs?</h2> 
<p style="text-align: justify">In recent weeks, US-based spot Bitcoin ETFs faced substantial losses, plummeting BTC prices to around $52,000. However, the downward trend was halted on Monday when these ETFs saw a net cash inflow of about $28.72 million, marking the end of an eight-day losing streak.</p> 
<p style="text-align: justify">On Monday, Fidelity’s FBTC, Bitwise BITB, and ARK 21Shares Bitcoin ETF (ARKB) noted cash inflows of $28.6 million, $21.99 million, and $6.81 million, respectively. In contrast, BlackRock’s IBIT and Grayscale’s GBTC ended with outflows of nearly $9 million and $22.76 million, respectively.</p> 
<p style="text-align: justify">Consequently, the total assets under management for US spot Bitcoin ETFs climbed to roughly $51.31 billion. On the other hand, Hong Kong spot Bitcoin ETFs saw minimal activity, reflecting low institutional interest in Asia, while Japan’s Metaplanet Inc continued its Bitcoin accumulation.</p> 
<h2 id="where-is-the-crypto-market-headed">Where is the Crypto Market Headed?</h2> 
<p style="text-align: justify">The crypto market is predicted to enter an upward trajectory in the fourth quarter, potentially extending this trend into the first half of 2025. The possibility of interest rate cuts on September 18, ahead of the US general elections, could serve as a catalyst for this bullish movement.</p> 
<p style="text-align: justify">Serial entrepreneur Robert Kiyosaki commented on the weakening US dollar index and the potential collapse of the bond market. He suggested that investments in physical assets like gold and Bitcoin could safeguard capital during economic instability.</p> 
<h2 id="key-observations-from-current-trends">Key Observations from Current Trends</h2> 
<p style="text-align: justify"> • US spot Bitcoin ETFs ended their losing streak with a notable cash inflow of $28.72 million.<br> • Fidelity’s FBTC, Bitwise BITB, and ARK 21Shares Bitcoin ETF recorded significant inflows, while BlackRock’s IBIT and Grayscale’s GBTC saw outflows.<br> • The total assets under management of US spot Bitcoin ETFs reached approximately $51.31 billion.<br> • Hong Kong ETFs witnessed almost zero activity, contrasting with Japan’s Metaplanet Inc’s Bitcoin accumulation.<br> • Expectation of interest rate cuts and the weakening US dollar may boost the crypto market. </p> 
<p style="text-align: justify">In conclusion, Bitcoin’s recent price surge and renewed interest in US spot Bitcoin ETFs have fostered optimism in the crypto market. Nonetheless, factors such as reduced demand in Hong Kong and the weakening US dollar will play pivotal roles in determining the market’s trajectory. Investors should remain vigilant and adjust their strategies based on evolving <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market conditions</a>.</p> 
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/bitcoin-price-leaps-over-4-in-24-hours" data-wpel-link="internal">Bitcoin Price Leaps Over 4% in 24 Hours</a></h5>

Bitcoin Price Leaps Over 4% in 24 Hours

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