Bitcoin Chases The $1B Mark In One Week Fund Inflows, Arthur Hayes Sees Year-End Bitcoin Valuation 'At Or Above An All-Time High'
Portfolio Pulse from Khyathi Dalal
The latest CoinShares report shows a significant increase in crypto fund inflows, with Bitcoin (BTC) leading at $1.14 billion. U.S. inflows were $1.24 billion, while Germany, Sweden, and Canada saw outflows. Despite the approval of a spot Bitcoin ETF, Bitcoin's price dropped 7.8% in the past week. Crypto enthusiast Michaël van de Poppe suggests the correction is healthy and predicts a significant rise in Bitcoin's value. Arthur Hayes, BitMEX co-founder, remains bullish, expecting Bitcoin to reach or exceed its all-time high by year-end.
January 16, 2024 | 10:40 pm
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Bitcoin saw a significant inflow of funds, totaling $1.14 billion, indicating strong investor interest. Despite a recent price drop, experts predict a healthy correction and a bullish future, with potential year-end highs.
The substantial inflow of funds into Bitcoin suggests a positive investor sentiment, which could counteract the recent price drop. Expert opinions and the approval of a spot Bitcoin ETF provide a bullish outlook, potentially leading to a price increase in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100