Bitcoin ETF

Bitcoin

<p>Usually when <a href="https://captainaltcoin.com/why-is-the-crypto-market-up-bitcoin-btc-price-tests-71k/" target="_blank">the crypto market is booming like today</a> and yesterday, we see massive Bitcoin ETFs inflows. This was certainly the case today.</p> 
<p><a href="https://www.investopedia.com/spot-bitcoin-etfs-8358373" target="_blank">The Bitcoin ETF market </a>produced another remarkable day with inflows reaching $868 million, with BlackRock’s fund leading the charge at $640 million. This marks one of the largest daily inflows since these products launched. </p> 
<p>For context, the highest single-day inflow was recorded on March 12, 2024, totaling $1.045 billion. Given the current market enthusiasm, we might see this record challenged soon. </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f389.png" alt="🎉" class="wp-smiley" style="height: 1em; max-height: 1em;"> BTC <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#ETF</a> have an inflow of $868M today, with $640M from BlackRock. <br><br>This is one of the largest inflows since the launch. The biggest BTC ETF inflow was on March 12, 2024, with $1.045B. With recent hype, a new record could be on the horizon.<br><br>BTC's price increased by 5%… <a href="https://t.co/OTn7rxAenL" target="_blank" rel="nofollow">pic.twitter.com/OTn7rxAenL</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1851465543817032032?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 30, 2024</a>
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<p>Bitcoin’s price reflected this momentum, climbing 5% yesterday and currently trading around $72,400, approaching its all-time high. Meanwhile, Ethereum ETFs continue to show relatively modest activity, with investor interest remaining subdued.</p> 
<p><em><strong>Read also: <a href="https://captainaltcoin.com/analyst-predicts-cardano-ada-price-could-rally-25-short-term-heres-why/" target="_blank">Analyst Predicts Cardano (ADA) Price Could Rally 25% Short-Term – Here’s Why</a></strong></em></p> 
<h2 class="wp-block-heading" id="fibonacci-analysis-suggests-higher-targets">Fibonacci Analysis Suggests Higher Targets</h2> 
<p>In a notable development, crypto analyst Ali Martinez shared an interesting Bitcoin chart with his 76,000 followers on X (formerly Twitter). The analysis applies Fibonacci extension levels to previous bull cycles, revealing fascinating patterns in Bitcoin’s price movement.</p> 
<p>Looking at historical data, Bitcoin has consistently peaked between two crucial Fibonacci extension levels: 1.618 and 2.272. During the 2013 bull run, Bitcoin reached the 2.272 level at approximately $1,054. The 2017 cycle saw similar behavior, with prices peaking near the 2.272 extension around $16,570. In 2021, Bitcoin touched the 1.618 level near $61,998, though it didn’t quite extend to the 2.272 level during that cycle.</p> 
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   <p lang="en" dir="ltr">In past bull cycles, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> has peaked between the 1.618 and 2.272 Fibonacci retracement levels. Following a similar pattern, the next <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a> top could land between $174,000 and $462,000! <a href="https://t.co/KUq51Tt57z" target="_blank" rel="nofollow">pic.twitter.com/KUq51Tt57z</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1851488702406840369?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 30, 2024</a>
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<p>Based on these historical patterns, the current cycle’s Fibonacci extension levels suggest potential targets between $174,000 (1.618 level) and $462,000 (2.272 level). With Bitcoin currently trading above $71,400, surpassing the previous peak of $68,997, the market is watching closely to see if these historical patterns will repeat.</p> 
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="nofollow">FREE Telegram group.</a></strong></em></p> 
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<p>The post <a href="https://captainaltcoin.com/bitcoin-etfs-produce-massive-numbers-will-btc-price-hit-174k/">Bitcoin ETFs Produce Massive Numbers – Will BTC Price Hit $174k?</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Bitcoin ETFs Produce Massive Numbers – Will BTC Price Hit $174k?

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