Bitcoin's Unprecedented $20K Monthly Gain Is A 'Starting Candle,' Says Veteran Trader
Portfolio Pulse from Ivan Crnogatić
Veteran trader Peter Brandt predicts Bitcoin's recent $20K monthly gain as a 'starting' candle for larger gains, targeting $120,000 to $200,000 by 2025. BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity's Wise Origin Bitcoin Fund (FBTC) show significant ETF inflows, contributing to Bitcoin's growth.
March 01, 2024 | 9:40 pm
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POSITIVE IMPACT
Fidelity's Wise Origin Bitcoin Fund (FBTC) accounts for 2% of Fidelity's ETF AUM and 64% of its YTD ETF inflows, highlighting strong investor interest and potential for growth.
FBTC's significant share of Fidelity's ETF AUM and inflows indicates robust investor interest, which could positively influence its short-term price trajectory.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
BlackRock's iShares Bitcoin Trust (IBIT) reached $10 billion in AUM, accounting for 42% of BlackRock's ETF inflows in 2024, indicating strong growth and investor interest.
The significant AUM and proportion of BlackRock's ETF inflows suggest a high level of investor confidence and interest in Bitcoin through IBIT, likely leading to a positive short-term impact on its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90