![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
The US Bitcoin ETF inflow has slowed from its robust performance over the last eight days, Farside Investors data showed. From April 17-29, the BTC inflow totaled $3.93 billion, which has helped in a strong rally for the flagship crypto's price, sending it to over $95K. However, on April 30, the investment instruments recorded a combined outflow of $56.3 million and the recent interest is waning, which might add pressure on the crypto's price. Also, many are also questioning the potential of the Bitcoin rally ahead.
Will Bitcoin Rally Continue Amid Slowing BTC Inflow?
The US Bitcoin ETF inflow has slowed from its robust performance over the last eight days, according to Farside Investors data. From April 17-29, the BTC inflow totaled $3.93 billion, which has helped in a strong rally for the flagship crypto's price, sending it to over $95K. However, on April 30, the investment instruments recorded a combined outflow of $56.3 million.
It's worth noting that BlackRock (NYSE:BLK) IBIT has still recorded an inflow of $267 million on Thursday. Also, IBIT has consistently recorded inflows since April 14.
The recent combined outflow indicates that the institutional interest is fading, which might add pressure on the crypto's price. Besides, many are also questioning the potential of the Bitcoin rally ahead.
Bitcoin Rally To Sustain? Here's What To Watch Next
Despite the slowdown in BTC inflow on Thursday, it appears that investors are still putting their bets on the asset. It also indicates that the traders are confident in the long-term potential of Bitcoin, betting on a continuing rally.
Notably, BTC price today was up over 1.3% and traded over $96,000 during writing. However, in the early US hours, the price dropped to $93,796 on Friday. Besides, the future open interest of the asset also rose by over 5%, reflecting the strong confidence of the traders.
According to CryptoQuant analyst Axel Adler Jr, Bitcoin's on-chain momentum is gaining steam, with three possible scenarios emerging to guide the next stage of the cryptocurrency's journey.
Optimism: If the Ratio breaks above 1.0, it could signify a continuation of the bull market, setting the stage for a potential price rally to the $150-175K range.
Base Case: A consolidation phase is anticipated if the Ratio stabilizes and hovers around its current level. This scenario suggests a period of sideways trading, likely within the $90-110K bracket.
Pessimistic Case: A pessimistic outlook arises if the Ratio experiences a significant decline. This scenario suggests a correction towards the $70-85K zone.
Currently, the Ratio stands at 0.8, and the next six months will be crucial in determining which scenario unfolds and shapes the trajectory of Bitcoin's price action.
A recent BTC price prediction also showed that the crypto is likely to soar past the $100K mark this month. Considering all these, it appears that the Bitcoin rally may continue in the coming days, especially if the ETF inflow recovers to provide more support to the bullish momentum.
부인 성명:info@kdj.com
제공된 정보는 거래 조언이 아닙니다. kdj.com은 이 기사에 제공된 정보를 기반으로 이루어진 투자에 대해 어떠한 책임도 지지 않습니다. 암호화폐는 변동성이 매우 높으므로 철저한 조사 후 신중하게 투자하는 것이 좋습니다!
본 웹사이트에 사용된 내용이 귀하의 저작권을 침해한다고 판단되는 경우, 즉시 당사(info@kdj.com)로 연락주시면 즉시 삭제하도록 하겠습니다.