Bitcoin ETF Interest May Surge Amid Price Declines

Ki Young Ju, the CEO of CryptoQuant, has indicated that the market for spot Bitcoin exchange-traded funds (ETFs) could see a revival if Bitcoin’s (BTC) price continues to fall. In a recent post on X, dated March 22, he suggested that the netflows of spot Bitcoin ETFs might increase as the price of BTC decreases. He based his prediction on historical net flow trends, which show that demand for Bitcoin ETFs typically rises when the cryptocurrency hits certain support levels.

According to BitMEX Research, a notable analytics firm, spot BTC ETFs have experienced negative net flows for the past four trading sessions. This trend is marked by continuous outflows from the Grayscale Bitcoin Trust ETF and reduced inflows to other BTC ETFs.

Exploring the Potential Revival of the Spot Bitcoin ETF Market

Ki Young Ju also noted that new BTC whales, particularly those investing in ETFs, have an average on-chain cost basis of around $56,000. He anticipates a significant resurgence in capital inflows into the ETFs if Bitcoin’s price drops to this level.

The price of BTC has been fluctuating between $62,000 and $68,000 over the past week. Young Ju suggests that a further price drop is possible, given that corrections usually see a maximum decline of about 30%, which could bring Bitcoin down to around $51,000 from its recent all-time high of $73,750.

Analysts have attributed Bitcoin’s recent correction to overheated market conditions, referring to it as a “pre-halving retrace” in anticipation of the upcoming Bitcoin halving event in April.

A recent report from CryptoQuant suggests that the Bitcoin bull cycle is far from over. This is based on the relatively low level of investment flows from new investors and price valuation metrics that are still below levels observed in previous market peaks.

Historically, the Bitcoin halving event has been a major catalyst for the BTC price, typically leading to a parabolic uptrend.

Green Bitcoin: A Fresh Take on Sustainable Cryptocurrency Investing

This year, the cryptocurrency scene is buzzing with the arrival of Green Bitcoin, a new player that’s setting itself apart with its eco-friendly approach and a unique “Predict to Earn” staking mechanism. This innovative feature empowers investors to accumulate rewards by forecasting the price fluctuations of Bitcoin. What’s more, long-term holders are in for a treat, as they can rake in additional APY rewards.

Participants in the staking program are eligible for bonus rewards ranging from 5% to 15%, depending on the length of their staking period. This setup ensures that investors can still come out ahead, even if their price predictions don’t hit the mark. With a substantial 27.5% of its total supply earmarked for staking, Green Bitcoin’s presale has already made a splash, raking in over $1.1 million. This strong start underscores its growing influence in the niche market of environmentally conscious cryptocurrencies.

Visit Green Bitcoin Presale

 

Related News

  • Bitcoin Price Prediction: CryptoQuant Warns Of BTC Liquidity Crisis On TradFi Demand As Analysts Say This Bitcoin Alternative Might Be The Best Crypto To Buy Now
  • Bitcoin Price Prediction: CryptoQuant Says BTC Could Soar To $112K This Year On ETF Inflows As Investors Turn To This Cloud Mining ICO For 10X Potential Gains
  • Spot Bitcoin ETF Approvals May Boost Crypto Market Cap By Almost $1 Trillion, Fire BTC Price To $73K, CryptoQuant Says

Comments

Post a Comment

Popular posts from this blog

Investor Says BTC And cryptos Are Primed For A Big Turnaround

Image
A trader who is known for correctly calling the bottom of the crypto market in 2022 says that now “seems like a great time” for the market to turn around. Chris Burniske, a venture capitalist, tells his 260,100 Twitter fans that there are a lot of things going for Bitcoin (BTC) and other crypto currencies. “BTC at [200-week simple moving average], worst of Fed action is behind us, credit crunch is there but not a crisis, US gov unlikely to default, equities rallying while crypto lags — seems like a prime time for us to reverse — what am I missing?” Burniske also says that it looks like “a new product cycle” is about to start in the crypto world. “The availability of mature infrastructure for products to use is leaps and bounds beyond the last time this happened w/ DeFi (decentralized finance) Summer in 2020. If you’re not getting excited, you’re not paying close enough attention.” The venture investor is especially excited ...
Read more

Taurus and Teylor collaborate to tokenize German SME loans on TDX Marketplace

Taurus and Teylor Partnership. Teylor’s credit portfolio tokens, overseen by Allen and Overy, become tradeable on Taurus’ TDX marketplace. Taurus’ TDX marketplace, with $1 billion+ in transactions, solidifies Switzerland’s role in institutional-grade blockchain treatment for diverse asset classes. In a groundbreaking move, Swiss crypto custody firm Taurus, backed by Deutsche Bank, has joined forces with Zurich-based fintech lending platform Teylor. The collaboration aims to tokenize Teylor’s credit portfolio tokens, allowing them to be traded on Taurus’ TDX marketplace, signalling a significant step in the tokenization of traditional finance. Tokenizing German SME loans on TDX Marketplace Taurus and Teylor collaboration centers on tokenizing Teylor’s credit portfolio tokens, a move that aligns with the global trend of digitizing traditional financial assets. Overseen by law firm Allen and Overy, Teylor’s cred...
Read more

Zeebu Celebrates a Resounding Success at Exclusive Yacht Party during Token2049 Singapore

Image
Singapore – September 20, 2023   – Zeebu, the pioneering on-chain B2B invoice settlement platform, successfully concluded its Yacht Party during TOKEN2049 in Singapore on September 14th, 2023, setting the stage for an unforgettable evening. The event was a resounding success, attracting a significant number of industry leaders, experts, and investors for an evening of networking and insightful discussions. The Yacht Party also garnered attention from major industry media outlets, including Coingape and Bitcoinworld, further amplifying its impact.   Zeebu made its debut as a sponsor at TOKEN2049 Singapore, reinforcing its position as a key player in the industry’s premier event. The week was filled with excitement for the Zeebu team, with their booth at TOKEN2049 serving as a hub of activity. Zeebu’s co-founder and CMO, Raghavendra Hunasgi, delivered a keynote speech at the conference, further highlighting Zeebu’s commitment to the industry. In addition, Zeebu co-hoste...
Read more