Bitcoin Taps $65K After ETFs Extend Inflow Hot Streak To 5 Days: Here's What Technical Analysis Is Saying
Portfolio Pulse from Murtuza Merchant
Bitcoin reached $65,000, driven by strong ETF inflows, particularly from BlackRock's Bitcoin ETF. Ethereum ETFs also saw significant inflows. The upcoming Bitcoin options expiry is expected to increase market volatility. Technical analysis shows Bitcoin consolidating between $62,700 and $65,000, with potential for bullish momentum if support holds.
September 26, 2024 | 2:53 pm
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POSITIVE IMPACT
Grayscale's Ethereum ETF contributed $26.6 million to the total $43.2 million inflow into Ethereum ETFs, reflecting strong investor interest.
The inflow into Grayscale's Ethereum ETF indicates strong investor interest in Ethereum, which could support its price. This is a positive sign for Ethereum's market sentiment.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
BlackRock's Bitcoin ETF saw a strong inflow of $184 million, indicating robust demand and contributing to Bitcoin's price reaching $65,000.
The significant inflow into BlackRock's Bitcoin ETF suggests strong investor demand, which is a positive indicator for Bitcoin's price. This demand has contributed to Bitcoin reaching $65,000, indicating potential for further price increases.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80