Strong price performance and staking could propel Ether ETF inflows in 2025, analysts say.
Following the approval of the US-based spot Bitcoin exchange-traded funds (ETFs) in January 2024, the crypto crowd felt it was only a matter of time before other similar products received the green light. Barely six months after the BTC ETF trading debuted, the Ethereum exchange-traded funds were also launched in the United States. While the […]
Bitcoin could reach a cycle top of over $160,000 on continued interest rate cuts and macroeconomic improvements in 2025, analysts have predicted.
The Bitcoin (BTC) market has undergone a remarkable recovery this year, largely due to the increased popularity of Bitcoin ETFs. BTC reached an all-time high of $73,000 in the first quarter of the year, sparking a bullish trend that continues today, with a recent high of $104,000. The presidential election of Donald Trump has had a huge impact on this rise especially over the past month, as he has positioned himself as the first pro-crypto President, picturing America as the “crypto capital of the world.” Trump’s favorable position toward digital assets has infused increased optimism among investors, resulting in increased buying pressure from Bitcoin ETF providers such as BlackRock and Fidelity. Notably, the top 12 Bitcoin ETFs have emerged as the biggest BTC holders, with a combined asset value of over $100 billion. This figure represents one of the most successful ETF launches in financial history, with the 12 spot Bitcoin ETFs now collectively owning approximately 1.1 million BTC—equivalent to about 5% of all Bitcoin in circulation. Bitcoin ETFs Expected To Surpass 2024 Inflows In a recent report, crypto asset manager Bitwise outlined three key factors that suggest Bitcoin ETFs will continue to see explosive growth in 2025. Initially, it’s important to note that the first year of ETF operations is typically the slowest. Related Reading: Bitwise Forecast: Bitcoin, Ethereum, And Solana Poised For Record Highs In 2025 Historical comparisons with gold ETFs launched in 2004 show a significant increase in inflows over subsequent years. For instance, gold ETFs began with $2.6 billion in their first year, followed by $5.5 billion in the second year, and progressively higher amounts in the following years. The firm suggests that if the 12 spot Bitcoin ETFs in the United States follow a similar trajectory, 2025 could see inflows that far exceed those of 2024. Another factor contributing to potential growth is the anticipated participation of major financial wirehouses. Firms such as Morgan Stanley, Merrill Lynch, Bank of America, and Wells Fargo have yet to fully deploy their wealth management teams to promote Bitcoin ETFs. As regulatory environments become more favorable under Trump, these institutions are expected to unlock access to Bitcoin ETFs for their clients, potentially directing trillions of dollars into the crypto market. Investors ‘Laddering Up’ Finally, Bitwise has identified a clear trend among investors known as “laddering up.” This pattern indicates that initial small contributions to Bitcoin frequently lead to increasing investments over time. The asset manager believes that many investors who entered the Bitcoin ETF market in 2024 will double down on their investments in 2025. Related Reading: XRP Price Prediction: Last Phase Of ABC Wave Points To A Bounce To New ATH At $5.85 The firm’s assertion that “3% is the new 1%” indicates increasing acceptance of Bitcoin as a genuine asset class, which they believe will lead investors to dedicate a larger amount of their portfolios to cryptocurrencies. At the time of writing, BTC had consolidated above $100,900 following a 7% dip to $91,000 at the start of the month. Over the previous 24 hours, the market’s biggest cryptocurrency has seen an almost 4% price increase. Featured image from DALL-E, chart from TradingView.com
Since Donald Trump became president-elect a little more than a month ago, roughly $10 billion has flooded into US spot Bitcoin ETFs, showing growing optimism that his administration will support the cryptocurrency industry. According to Bloomberg, a dozen funds from big issuers including BlackRock and Fidelity Investments have received around $9.9 billion in net inflows into their various Bitcoin ETFs since November 5, bringing their total assets to around $113 billion. Trump’s Appointments Signal Shift To Pro-Crypto Regulation Trump’s recent selections, such as a digital asset champion to lead the US Securities and Exchange Commission (SEC) and the creation of a White House czar for artificial intelligence and crypto, indicate a shift toward a more friendly regulatory climate. Notably, Trump has praised the concept of establishing a national Bitcoin reserve, which is gaining bipartisan support in Congress, with pro-crypto Senator Cynthia Lummis at the lead. Related Reading: XRP Skeptic Turned Believer? Critic Hails XRP As Crypto’s Chart King Bitcoin recently surpassed the $100,000 mark for the first time on December 5, trading at around $96,898 as of Monday. The cryptocurrency’s six-week winning streak is the longest since the market frenzy of 2021, but analysts remain concerned about volatility. David Lawant, head of research at crypto premier broker FalconX, noted that a sustained push above the $100,000 milestone will most likely necessitate other positive catalysts, as BTC has struggled to recapture this level while stabilizing after the advance over the last four days. Bitcoin Rally Boosts MicroStrategy And Peers Bloomberg also notes that the positive atmosphere surrounding cryptocurrencies has resulted in a substantial rebound among companies that have followed MicroStrategy’s strategy of selling convertible bonds to fund Bitcoin purchases. MicroStrategy alone sold $6.2 billion in convertibles this year and intends to raise an additional $21 billion through fixed-income offerings. Other companies, including MARA Holdings and Core Scientific, have successfully obtained significant funds to support their Bitcoin acquisitions. MicroStrategy’s stock, MSTR, has risen 73% since Donald Trump’s election, while MARA, Riot Platforms, and Core Scientific’s shares have increased by 63%, 33%, and 30%, respectively. This trend closely resembles Bitcoin’s nearly 40% growth within the same period. With a market capitalization approaching $2 trillion, Bitcoin’s recent ascent has dramatically increased MicroStrategy’s assets, which are now worth more than $41 billion. Related Reading: Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next The terms of recent crypto-related convertible deals stand out, particularly because many are structured with zero coupons, allowing investors to engage in convertible arbitrage. Despite the high demand for these instruments, there appears to be little anxiety about prospective Bitcoin price decreases. Raj Imteaz, head of convertible and equity derivatives advisory at ICR Capital LLC, noted that larger players in the market feel compelled to issue convertibles to remain competitive. “If your competitor has a large war chest funded at very low coupons and you haven’t tapped the market, you’re at a competitive disadvantage,” he said. “You almost have to issue converts to stay competitive within crypto.” Featured image from DALL-E, chart from TradingView.com
Amid the excitement and expectations for Donald Trump’s new industry-friendly administration, the crypto community and key figures continue to speculate about the coming changes in the regulatory space. Coinbase’s CEO recently urged the US Senate Banking Committee to vote wisely on the re-nomination of an anti-industry Securities and Exchange Commission (SEC) commissioner, suggesting that the […]
Even above $100,000, Bitcoin offers a revolutionary platform for financial inclusion, particularly in developing regions with no banking infrastructure.
Pantera is now up more than 130,000% from its first Bitcoin purchase back in July 2013.
Onchain data reveals that ETF flows haven’t been the primary causes of sell pressure for Bitcoin.
Spot Bitcoin ETFs saw their steepest single day of outflows since Trump’s election win, signaling market jitters.
CoinShares data showed that spot Bitcoin ETFs recorded $3.12 billion in inflows from Nov. 18–22.
Bitcoin’s price action has historically benefited from economic concerns and issues in the banking industry.
Cboe, the derivatives exchange for digital assets and securities trading, is set to make a big addition to the crypto landscape by launching the first cash-settled index options linked to Bitcoin’s (BTC) spot price movements. Scheduled to debut on December 2, these options will be based on the Cboe Bitcoin ETF Index, which tracks a selection of US-listed spot Bitcoin exchange-traded funds. What This Means For Traders The introduction of these options follows closely on the heels of Nasdaq’s recent listing of spot Bitcoin ETF options. This move allows US investors to utilize derivatives to speculate on or hedge against BTC’s price movements. Related Reading: XRP Price Outlook Brightens: Expert Predicts $2 Target Post-Gensler Era Alex Thorn, head of firmwide research at Galaxy Digital, emphasized that reducing Bitcoin’s volatility could significantly alter investor perceptions. The availability of cash-settled options will provide institutions with effective tools to hedge their positions, potentially increasing overall market liquidity. This influx of options trading could also influence retail trading behavior, especially during bullish market conditions. Notably, the current surge in Bitcoin’s price, which reached an all-time high of $99,300, has been partly attributed to increased trading activity and market optimism. Therefore, introducing cash-settled options could further push Bitcoin over the $100,000 mark, especially given the increased buying pressure seen in recent days. Cboe’s options on the Bitcoin ETF Index will also enable market participants to gain exposure to spot Bitcoin ETFs and, by extension, to Bitcoin itself. The cash-settled nature of these options is said to simplify the process, as positions will be resolved in cash at expiration. Additionally, the options will feature a “European-style exercise,” meaning they can only be exercised on the expiration date, thus minimizing the risks associated with early assignment. Cboe Mini Bitcoin ETF Options In conjunction with the standard-sized index options, Cboe plans to launch Cboe Mini Bitcoin ETF Index options (Ticker: MBTX), valued at one-tenth the notional value of the standard options. Moreover, Cboe will also offer cash-settled FLEX options on both the standard and mini index options. FLEX options enable traders to customize key contract terms such as exercise price, exercise style, and expiration date, providing further flexibility in trading strategies and allowing for larger positions than typically permitted with standard options contracts. Related Reading: Dogecoin Price Set To Skyrocket By Saturday, Warns Crypto Analyst Rob Hocking, Cboe’s Global Head of Product Innovation, highlighted the benefits of cash settlement and the variety of index sizes available, which are expected to attract institutional and retail participants looking to hedge or capitalize on Bitcoin’s price movements without directly holding the asset. The exchange already lists cash-settled Bitcoin and Ether margin futures on Cboe Digital Exchange, with plans to transition these products to the Cboe Futures Exchange in the first half of 2025, pending regulatory approval. Cboe’s BZX Equities Exchange also holds a leading position in the US market for spot crypto ETFs, having captured a majority market share of available Bitcoin and Ethereum ETFs. When writing, the market’s leading cryptocurrency is trading at $99,240. Featured image from DALL-E, chart from TradingView.com
The Bitcoin price started falling 30 minutes before the options expiry, but market watchers don’t expect significant downside.
The record monthly stablecoin inflows could put Bitcoin’s price on track to top the record $100,000 mark.
BlackRock, the world’s largest asset manager, has officially launched options trading for its Bitcoin ETF, the iShares Bitcoin Trust (IBIT). This debut comes after the ETF received regulatory approval in January and has since attracted significant inflows. Increased Liquidity And Reduced Volatility On The Horizon According to Bloomberg, the introduction of options trading on the $43 billion iShares Bitcoin Trust is anticipated to reduce volatility while broadening Bitcoin’s investor base. Related Reading: VanEck Gives Official Backing To Donald Trump’s Bitcoin Reserve Strategy Alex Thorn, head of firmwide research at Galaxy Digital, stated during a Bloomberg Television interview that as Bitcoin becomes more widely held, its volatility is likely to decrease. “Options will help dampen volatility, and as volatility comes down, people can take larger position sizes,” he explained. Thorn noted that a decrease in volatility could shift investor sentiment, encouraging them to view Bitcoin as a viable asset for fundamental use cases rather than merely a speculative gamble. The availability of options will also enable institutions to hedge their positions more effectively, increasing liquidity and potentially impacting retail trading during bullish market conditions. Call Options Dominate BlackRock’s Bitcoin ETF On Day 1 Bloomberg ETF analysts Eric Balchunas and James Seyffart reported that on the first day of options trading, the total notional exposure for IBIT reached nearly $1.9 billion, spread across 354,000 contracts. Of these contracts, 289,000 were calls, while 65,000 were puts, resulting in a bullish call to put ratio of 4.4:1. Seyffart claimed that this overwhelming interest in call options contributed to Bitcoin hitting new all-time highs of $94,000 during Tuesday’s trading session for the market’s leading crypto. Balchunas, on the other hand, pointed out that the majority of options contracts are bullish, especially the December 20 call option, which essentially bets that the Bitcoin price will double within a month. This means that based on current prices, investors are expecting BTC to hit a new record high of little over $180,000 by that date. The put/call volume ratio for BlackRock’s Bitcoin ETF was “impressive,” according to Balchunas, who noted that the ratio of 0.17 indicates strong bullish sentiment compared to other ETFs, such as the SPDR S&P 500 ETF (SPY) with a ratio of 1.1. Related Reading: Bitcoin Reaches New High Of $94,000: Blockstream CEO Anticipates $1 Million Ahead Market expert Marty Party highlighted in a social media post that options on the iShares Bitcoin Trust will settle in actual Bitcoin. This means that when an option contract is exercised, settlement will involve the delivery of Bitcoin, giving investors direct exposure to BTC price movements without the need to interact with crypto exchanges. At the time of writing, the market’s leading digital asset is trading at $91,580, up 4% in the weekly time frame after today’s bullish move to its new high. Featured image from DALL-E, chart from TradingView.com
Major investment bank Goldman Sachs has disclosed its significant stake in spot Bitcoin ETFs (exchange-traded funds). The finance behemoth, once a vocal Bitcoin critic, appears to be shifting its investment strategy towards crypto assets, specifically the world’s largest cryptocurrency by market capitalization. Goldman Sachs Discloses $461 Million In BlackRock’s Bitcoin ETF On Thursday, November 14, […]
Bitcoin (BTC) has performed remarkably over the past week, surging 30% since the November 5 US election. The flagship crypto surpassed its March all-time high (ATH), recording a new high nearly every day for the last seven days. Bitfinex analysts noted that the market remains “relatively stable” despite increased speculative activity. Related Reading: Bitcoin Closing In On $80,000 For Record-Breaking Run After Trump Win Bitcoin ‘Fair Value’ Priced In At Higher Levels Following Donald Trump’s victory last Tuesday, the crypto market has seen a massive rally, surging to a market capitalization of $3.05 trillion. Bitcoin has led the post-election bullish run with a 30% price increase, nearing the $90,000 mark earlier today. According to Bitfinex Alpha report, the rally “highlights the positive reaction to the election outcome, with investors positioning themselves for potential economic stimulus and regulatory shifts.” During the March highs, BTC’s realized profit volume reached its peak of $3.1 billion. Since then, realized profit volumes have gradually decreased, “reaching an equilibrium.” As the report noted, there’s been a reset in supply and demand forces, which indicates, alongside the recent price surge, that “the market is now pricing in a higher ‘fair value’ for Bitcoin.” At the same time, the cryptocurrency continues its price discovery. Moreover, profit-taking above $70,000 has been significantly smaller than the past instances when Bitcoin traded above this range, despite a structural increase in profit-taking. Bitfinex analysts consider this to signal the “entry of a new wave of demand into the market,” backed up by Spot Bitcoin exchange-traded funds (ETFs) buying post-elections. Additionally, it suggests that fresh investor interest “could drive further upward momentum in the near term.” BTC Enters ‘A New Phase’ The report highlighted record-breaking BTC ETFs’ inflows, around $2.28 billion in three days. This performance represented a significant increase from the pre-election de-risking, which saw the crypto-based investment products record their second-largest single-day outflows. According to CoinShares data, Bitcoin ETFs closed the US election week with $1.8 billion in inflows and started this week with $1.1 billion in positive net flow. This performance displays a resurgence in demand for the flagship crypto as the market adjusts to BTC’s new price levels. Bitfinex analysts explained that from March to August, there was significant supply and insufficient sustained buying pressure to absorb it. The recent demand surge suggests a notable shift as buying interest is “absorbing selling pressure at all-time highs and stabilizing market dynamics: Now we appear to be entering into a new phase where the volume of profit-taking when BTC hits an all-time high is notably lower, given the amount of fresh demand entering the market post-election. This demand is helping to absorb the minor selling pressure still present, suggesting a healthier market environment and potential for further upward movement. Related Reading: Solana (SOL) Records 3-Year High As Price Hits $220, Is $260 Next? Meanwhile, Open Interest (OI) in Bitcoin futures and perpetual contracts reached ATH, hitting $45.43 billion. The report explains that this signals an increase in speculative activity but details that the market remains “relatively stable” since OI and BTC prices “are in equilibrium at elevated levels.” Ultimately, Bitfinex anticipates some consolidation soon, with a potential pullback to $77,000. A correction toward this level would close BTC’s CME gap and strengthen Bitcoin’s position to climb even higher levels. As of this writing, Bitcoin is trading at $86,225, a 5% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Veteran trader Peter Brandt says Bitcoin is following a similar pattern from its past, which could lead to a $125,000 BTC price by New Year’s Eve.
The launch of the spot Bitcoin ETFs (exchange-traded funds) in January 2024 marked a perfect start to the year for the cryptocurrency industry. These crypto investment products were expected to walk the extra mile for the premier cryptocurrency, drawing in more investors into the digital assets space. BlackRock’s exchange-traded fund IBIT has been the leader […]
They include options on Bitwise Ethereum ETF, Grayscale Ethereum Trust, and Grayscale Ethereum Mini Trust, as well as “any trust that holds Ether,” the filing said.
Yesterday, Bitcoin had one of its most bullish days in history, skyrocketing past its all-time high to reach $76,990. This new milestone has ignited widespread excitement and confidence among investors, who now see the potential for further gains. Key data from Carl Runefelt reveals that Bitcoin ETFs experienced a historic surge, with $1.38 billion in net daily inflows. This record-breaking figure highlights institutional demand for Bitcoin, as major players like BlackRock are buying BTC in anticipation of long-term growth. Related Reading: Solana Breaks Above Key Resistance – Top Analyst Sets $300 Target The influx into Bitcoin ETFs underscores a broader trend of institutional adoption, with increasing interest from financial giants as they recognize Bitcoin’s potential as a store of value and hedge against economic uncertainty. Runefelt’s analysis suggests that this level of demand is unprecedented, marking a turning point that could sustain Bitcoin’s bullish momentum. The recent surge is not just a technical breakout but also a fundamental shift driven by institutional confidence, setting Bitcoin up for potential further highs as large-scale investors continue to enter the market. Bitcoin Hits New ATH Bitcoin has surged into uncharted territory, breaking its previous all-time highs once again to reach a new peak that has captivated the crypto community. This historic rally comes on the heels of the U.S. election, which saw Donald Trump emerge victorious. Market sentiment suggests that Trump’s pro-crypto stance could have played a role in driving renewed confidence among U.S. investors, who are looking to Bitcoin as a hedge amid changing economic policies. Adding to this momentum, traditional investors increasingly pour into Bitcoin through ETFs, marking a significant shift in institutional interest. According to key data from SoSo Value, shared by prominent analyst Carl Runefelt on X, Bitcoin ETFs experienced record-breaking daily inflows yesterday, totaling an astounding $1.38 billion. This historic inflow underscores the growing appetite from institutional players who are viewing Bitcoin as a critical asset for their portfolios. The recent bullish shift among institutions follows a prolonged 7-month accumulation phase that had cast shadows of doubt over Bitcoin’s potential to break new highs this year. Many investors remained cautious, with market volatility and uncertainty testing their confidence. Related Reading: Bitcoin Indicator Signals Equilibrium After Trump Victory – A Clear Path To New Highs? With institutional backing at record levels, Bitcoin’s recent rally could signify the beginning of an extended bullish phase. As big players like BlackRock buy-in through ETFs, the market sees this as a signal of renewed strength. All eyes are now on Bitcoin’s next moves, with analysts suggesting the recent price action may only be the beginning of a larger bull run for the world’s largest cryptocurrency. BTC Pushing Up: Strong Price Action Bitcoin is trading at $76,000 after reaching new all-time highs. BTC is entering a strong consolidation phase above the previous record level of $73,800. This price zone is crucial for bulls, as holding above it could provide stability for Bitcoin’s rally to continue. Analysts are closely watching this level; if BTC can respect it, the bullish momentum may persist, encouraging further gains. However, the recent euphoria could lead to a consolidation phase just below $77,000—a level some experts identify as a short-term local top. This resistance could take time to overcome as the market digests recent gains and awaits fresh catalysts for another breakout. Related Reading: Ethereum Analyst Sets $3,400 Target Once ETH Breaks Key Resistance – Details Despite potential consolidation, demand remains robust, and on-chain data reflects strong buying pressure that could continue driving the price upward. The technical outlook suggests further upside potential if Bitcoin can stay above $73,800 over the coming days. Bulls are optimistic, as it could establish a solid foundation for the next leg up in Bitcoin’s ongoing rally. Featured image from Dall-E, chart from TradingView
On Monday, spot Bitcoin exchange-traded funds (ETFs) registered their second-largest single-day net outflow since their launch in January. The crypto-based investment products saw their second consecutive red day before the US elections, ending a seven-day positive streak. Related Reading: Binance Founder CZ Responds To $100 Million Listing Fee Controversy Bitcoin ETFs Record Massive Outflow Day […]
The spot Bitcoin ETFs (exchange-traded funds) in the United States have recorded their first net outflow day in the past seven days. This negative single-day performance ended what was another impressive weekly outing for the crypto investment products. Bitcoin ETFs Shine While Ethereum ETFs Continue To Struggle After a strong performance throughout the month of October, the US-based spot Bitcoin ETFs didn’t register a perfect start to November. According to data from SoSoValue, the BTC exchange-traded funds posted a net outflow of $54.9 million on Friday, November 1. Breaking down the data, Fidelity’s FBTC surprisingly accounted for almost half ($25.64 million) of the outflow recorded on Friday. This figure was followed closely by Ark & 21Shares’ ARKB’s $24.13 million, the second consecutive outflow day for the fund. Related Reading: Bitcoin ETFs Crucial To Sustain Current Buying Pressure – Details Grayscale’s GBTC, which usually contributes to the outflow days for the Bitcoin ETFs, recorded only $5.51 million in capital outflow. Other funds that recorded an outflow on Friday included Bitwise’s BITB, VanEck’s HODL, and Valkyrie’s BRRR, with outflows of $5.64 million, $5.86 million, and $1.66 million, respectively. Interestingly, BlackRock’s exchange-traded fund IBIT didn’t see any inflow or outflow on Friday. Prior to this zero-inflow day, the trillion-dollar asset manager’s fund had seen capital influx for the last 14 consecutive days. In fact, IBIT posted its highest inflow day in the past week, with an influx of $872 million on Wednesday, October 30. While the Bitcoin ETFs posted outflows to end the previous week, the negative single-day action barely made an impact on the weekly performance. According to data from SoSoValue, the US BTC funds registered a $2.22 billion cumulative weekly inflow in the past week, the highest value since March. While the Bitcoin exchange-traded funds have been producing remarkable performance in recent days, their Ethereum counterparts have not exactly impressed. After witnessing an almost $11 million outflow on Friday, the weekly capital influx was slashed to approximately $13 million for the spot Ethereum ETFs. Bitcoin Price Overview Investors will be hoping that the Bitcoin ETFs will resume inflows when trading opens on Monday, considering its recent positive impact on price. The price of BTC almost touched its all-time high of $73,737 on Tuesday and Wednesday when the ETFs recorded their highest inflows in more than five months. Related Reading: BNB Token Burn: $1 Billion Of Tokens Sent To ‘Black Hole’ Address — Impact On Price? As of this writing, the price of BTC sits just above $68,000, reflecting a 2% dip in the past 24 hours. According to data from CoinGecko, the premier cryptocurrency is up by more than 3% in the last seven days. Featured image created by Dall.e, chart from TradingView
Back was an early Bitcoin developer and the first person to receive an email from pseudonymous Bitcoin creator Satoshi Nakamoto.
On Wednesday, BlackRock, the world’s largest asset manager, achieved a significant milestone in the Bitcoin ETF market, recording the largest inflows since the inception of these investment funds in January. Bitcoin ETF Demand Soars Ahead Of US Presidential Election According to Bloomberg, approximately $872 million flowed into BlackRock’s iShares Bitcoin Trust on Wednesday, marking a daily record for the fund. This influx highlights the strong demand for Bitcoin ETFs, with subscriptions for this nine-month-old product ranking among the highest globally for ETFs in 2024. As a result of the inflows, BlackRock’s total holdings in Bitcoin now stand at 429,185 BTC, valued at approximately $31.04 billion. This accounts for about 2.04% of Bitcoin’s total supply, capped at 21 million coins. The recent inflows are being attributed to a phenomenon dubbed the “Trump trade,” as pro-crypto Republican nominee Donald Trump gains momentum in betting markets ahead of the upcoming election day on November 5. Related Reading: BNB Price Slips as Peers Climb: Can It Regain Ground? Bitcoin is on the verge of reaching new heights, fueled by a 13% rally in October. James Seyffart, an ETF analyst at Bloomberg Intelligence, noted on Bloomberg Television that the demand for these ETFs is palpable, suggesting that investors are responding not only to Bitcoin’s upward momentum but also to Trump’s favorable odds in the political arena. Trump has made headlines with his pledge to turn the US into the “crypto capital of the planet” and to create a strategic Bitcoin reserve for the country to halve the US’s $35 trillion national debt. In contrast, Democratic Vice President Kamala Harris, has pledged to support a regulatory framework for the cryptocurrency industry but has not provided further details on how her potential new administration will address the community’s calls for a change in leadership at the US Securities and Exchange Commission (SEC) and its approach to digital assets. Price Predictions Surge Amid bullish predictions for the leading crypto of the industry, market expert Ali Martinez has shared compelling insights regarding Bitcoin’s potential price trajectory for the months ahead. In a recent post on social media platform X (formerly Twitter), Martinez analyzed historical patterns, noting that Bitcoin has typically peaked between the 1.618 and 2.272 Fibonacci retracement levels during past bull cycles. If this trend continues, Martinez predicts that Bitcoin could reach a price range between $174,000 and $462,000 in the current cycle. Related Reading: Analyst Says It’s ‘Time To Be Bullish On Ethereum’ As ETH Retests $2,700 In addition to these price predictions, Martinez pointed to another bullish indicator: a significant outflow of Bitcoin from cryptocurrency exchanges. Over the past 48 hours, approximately 8,000 BTC, valued at around $576 million, have been withdrawn from exchanges. This trend signifies a growing inclination among investors to hold onto their Bitcoin rather than sell it, which can create upward pressure on prices as BTC inches closer to its all-time high level of $73,700 reached in March. At the time of writing, BTC was trading at $71,640. This represents a retracement of 1.2% over the past 24 hours. Featured image from DALL-E, chart from TradingView.com
US Bitcoin ETFs recorded their highest daily inflow since inception, amassing $870 million on Tuesday. This surge in investment comes as the largest cryptocurrency inches closer to its all-time high of $73,700, originally reached in March. This comes as investor sentiment appears to be buoyed by speculation surrounding a potential victory for Republican candidate Donald Trump over VP Kamala Harris, which many believe could foster a more positive environment for the digital asset ecosystem, ultimately favoring crypto prices. Bitcoin ETFs Inflows And Price Rally According to Bloomberg data, Tuesday’s subscriptions pushed the year-to-date inflows for the group of 12 Bitcoin ETFs to over $23 billion. Analysts attribute the growing demand for Bitcoin exposure to Trump’s elevated odds in election betting markets. However, while Trump leads in prediction markets, polls show a tight race against Vice President Harris, who has pledged to support a regulatory framework for the cryptocurrency industry. Still, Trump’s approach seems to have resonated more with the community. Related Reading: Solana Memecoin Market Thrives: POPCAT Reaches New Record Price Of $1.75 Adding to the speculation, Bitcoin options markets reflect a one-third chance of a price swing exceeding 10% on election day, November 5, as indicated by Nick Forster, founder of the crypto trading platform Derive.xyz. This surge would take the Bitcoin price to a new all-time high of $72,900 in the potential scenario where BTC consolidates above $72,000 for the next few days ahead of the election. Forster believes such volatility often encourages traders to position themselves for potential market movements, increasing demand for Bitcoin ETFs and contributing to the current price rally since the beginning of the week. Expert Warns Of Potential Selloff ETF expert Eric Balchunas has also commented on the bullish sentiment surrounding Bitcoin ETFs. He noted that these funds are on track to reach 1 million BTC in holdings as early as today. In a recent social media post, Balchunas reported that US spot ETFs could surpass 1 million BTC by next Wednesday, potentially surpassing the holdings of Bitcoin’s mysterious creator, Satoshi Nakamoto, by mid-December, with the funds adding approximately 17,000 BTC each week. However, following Tuesday’s performance, Balchunas remarked, “We’re going to need to move up our predictions,” highlighting that Bitcoin ETFs had gobbled up over 12,000 coins in a single day, now holding 996,000 BTC. The expert expressed optimism about the likelihood of breaching the 1 million mark today, stating that the “extraordinary” trading volume from the previous day is likely to translate into significant inflows. Related Reading: Cardano (ADA) NVT Ratio Now Highest Since June: What Does It Mean? Balchunas also cautioned that market conditions can be unpredictable. “Anything can happen,” he warned, referencing the risk of a sudden selloff that could delay reaching the 1 million BTC milestone. Conversely, if Bitcoin prices continue to rise and a Trump victory boosts market enthusiasm, a fear of missing out (FOMO) could drive even more rapid accumulation, according to the expert’s analysis. When writing, the largest cryptocurrency on the market was trading at $72,360, up over 8% in the 7-day time frame. Featured image from DALL-E, chart from TradingView.com
As Bitcoin (BTC), the largest cryptocurrency by market capitalization, inches closer to its all-time high of $73,700 reached in March, the US spot Bitcoin ETF market has re-emerged as a key driver of the cryptocurrency’s recent price surge. On Tuesday, total trading volume for spot Bitcoin ETFs surpassed $3 billion, coinciding with Bitcoin’s price briefly above the pivotal $73,000 mark for the first time in over 7 months. Bitcoin ETF Market Set To Surpass 1 Million BTC Holdings Soon Notably, crypto investor BigRig observed a remarkable uptick in Bitcoin ETF purchases over the past two weeks, reporting $2.673 billion in inflows since October 16. This accounts for a substantial 11.8% of total ETF inflows during this period, suggesting a robust interest from institutional and retail investors. BigRig also pointed out that, prior to Tuesday’s trading volume, this period represented the best day for ETF inflows. Related Reading: Dogecoin Price Is About To Complete This Breakout To A Descending Megaphone Pattern, Is $1 Next? Bloomberg ETF analyst Eric Balchunas added to the optimistic narrative by stating that US spot ETFs are on track to hold 1 million Bitcoin by next Wednesday, surpassing the holdings of Satoshi Nakamoto, the enigmatic creator of Bitcoin, by mid-December with an average addition of about 17,000 BTC per week. However, Balchunas also cautioned that market volatility could impact these projections. “Anything can happen,” he noted, referencing the possibility of a sudden selloff that could delay the timeline. Conversely, if prices continue to rise and political factors, such as a potential Trump victory in the upcoming election, contribute to increased market enthusiasm, the expert believes that this influx of new investors could accelerate the pace of Bitcoin’s ascent to new highs. Whale Accumulation Spurs Optimism Despite heightened activity in the Bitcoin ETF market, the price of the largest cryptocurrency recently fell short of its all-time high, retracing to approximately $72,250 at the time of writing. However, there are positive indicators for Bitcoin bulls. The cryptocurrency has been consolidating above key support levels, with strong backing around the $66,000 mark. This support has effectively prevented any significant decline over the past week and has contributed to the ongoing rally. However, what would be a notable bullish indicator would be a sustained consolidation above the $70,000 level for the bulls, which could further demonstrate the strength of the current move. Related Reading: Analyst Says XRP Price Is Ready For A Breakout As Metrics Turn Bullish, What To Expect Market expert Miles Deutscher has been vocal about his bullish outlook for Bitcoin, particularly in the latter months of the year. He recently pointed out a significant trend: whales—large holders of Bitcoin—are accumulating the cryptocurrency at an “unprecedented pace.” This observation suggests that institutional demand for Bitcoin is currently outpacing retail interest, a shift that could have implications for massive price movements to the upside in the near future. Deutscher further highlighted that Bitcoin exchange reserves have reached all-time lows. This means that the amount of Bitcoin available on exchanges for trading has dwindled, signaling a supply squeeze. Featured image from DALL-E, chart from TradingView.com
Bitcoin derivatives markets are setting up for a potential BTC rally above $80,000 before the end of 2024, fueled by excitement over a potential Trump victory.
According to CoinShares, anticipation for the United States elections and Republican gains are fueling bullish market sentiment.