bullish

Bitcoin ETF

Bitcoin

<p>Bitcoin is on its way to making a strong comeback. After <a href="https://coinpedia.org/news/bitcoin-price-dip-to-3-week-low-yet-traders-see-opportunity-to-buy-the-dip/" rel="noopener noreferrer nofollow">dropping to $59,000</a>, BTC has climbed back above the crucial $62,000 level, capturing everyone’s attention again! Meanwhile, data from On-chain data provider CryptoQuant shows that the number of Short-Term Holders (STH) has fallen from 55%.&nbsp;</p>  
<p>Besides this, spot Bitcoin ETFs have recorded a big net inflow of $253.6 million after three days of losses.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-bitcoin-at-crucial-level-will-it-hold-62-7k">Bitcoin At Crucial Level: Will It Hold $62.7K?</h2>  
<p>As <a href="https://coinpedia.org/news/is-bitcoin-ready-to-break-free-from-the-60000-slump-eyeing-for-80k/" rel="noopener noreferrer nofollow">Bitcoin's price continues</a> to trade sideways, the spotlight is now on short-term holders (STH) and how they affect market movements. Recent analysis from CryptoQuant shows a notable drop in the realized share of STH, falling from 55% three months ago to 40% today.&nbsp;</p>  
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<p>This change suggests that short-term holders are becoming more sensitive to price fluctuations, especially those who have held Bitcoin for one week to six months.</p>  
<p>CryptoQuant further highlights that the key price level for STH is currently $62.7K. This level has been steady over the past three months, showing its importance in guiding market trends.&nbsp;</p>  
<p>Meanwhile, if Bitcoin can break above $62.7K, it may signal a more positive market. Specifically, if it rises above $63K with strong trading volume,&nbsp; it may trigger short-term bullish momentum, encouraging more buying activity among traders</p>  
<h2 class="wp-block-heading" id="h-bitcoin-etf-saw-net-inflow-after-3-days">Bitcoin ETF Saw Net Inflow After 3 Days</h2>  
<p>Adding optimism into the market, on October 11, spot Bitcoin exchange-traded funds (ETFs) experienced a significant turnaround, <a href="https://farside.co.uk/bitcoin-etf-flow-all-data/" rel="noopener noreferrer nofollow">recording net inflows of $253.6</a> million after three days of outflows. This inflow was largely driven by the Fidelity Wise Origin Bitcoin Fund, which led with an impressive $117.1 million.&nbsp;</p>  
<p>Additionally, the ARK 21Shares Bitcoin ETF saw $97.6 million in inflows, while the Bitwise Bitcoin ETF attracted $38.8 million.</p>  
<p>Notably, BlackRock’s iShares Bitcoin Trust (IBIT) saw no inflow that day, marking it as the third-largest inflow day without any contribution from IBIT.</p>

Bitcoin Bounce Back: Will It Break $63K Level As $253.6M in BTC ETFs Spark Bullish Hopes!

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