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Bitcoin Stability and ETF Outflows: A Closer Look at the ...
2024-06-13 15:04:42

Bitcoin Stability and ETF Outflows: A Closer Look at the Cryptocurrency Market

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Bitcoin stabilizes around $68,000 after recent volatility, while ETFs witness outflows totaling $200 million, affecting products like Grayscale's GBTC. Donald Trump voices support for U.S.-made Bitcoin during discussions with mining executives.

Market dynamics and investor sentiment are influenced by Fed's interest rate projections, as Bitcoin's price remains resilient despite external factors impacting the crypto space. Projections suggest potential growth, with reports hinting at a $120,000 price target during the current bull market cycle and optimism for hitting $150,000 with new ETF approvals.

Altcoins gain traction as Bitcoin dominance wanes, while on-chain data indicates rangebound price action amidst market uncertainties.

Related news on that topic:

Bitcoin's Volatility Amidst Macro Factors and ETF Developments

Bitcoin faces fluctuations as it drops 5% to $66,600, while Ethereum and other cryptocurrencies also experience losses. Bitcoin ETFs see significant outflows after consecutive days of inflows, with traders monitoring macroeconomic reports and potential market impacts of U.S. events. Predictions vary, with reports suggesting Bitcoin may reach $120,000 or even $150,000 this year, fueled by ETF approvals and increased liquidity. Despite recent dips and stagnant periods, experts remain optimistic about Bitcoin's long-term value and potential stability amidst market shifts.

Bitcoin Reclaims $69K: Potential Upside Amidst Market Dynamics

Bitcoin's recent surge to $69,000 signals potential further upside supported by positive inflation data and macroeconomic events. Despite concerns about miner selling and ETF outflows, analysts remain optimistic about Bitcoin's trajectory towards $72,000. Large holders accumulating Bitcoin to pre-2020 bull run levels hint at a potential breakout above $70,000, while analysts predict a spike to $91,539 despite the Federal Reserve's 'hawkish tone'. The recent surge in Bitcoin price following the Federal Reserve's decision to maintain interest rates unchanged is mirrored by gains in Ethereum, Solana, and Polkadot. Bitcoin miners are capitalizing on the rally as transfers to exchanges hit a two-month high, despite a decline in daily revenue due to lower transaction fees post-halving. Traders are advised to monitor key support/resistance levels for Bitcoin and other top cryptocurrencies like ETH, BNB, SOL, XRP, DOGE, TON, SHIB, ADA, and AVAX for potential breakout or breakdown signals.

Read 2 more recent news on this topic

The press radar on this topic:

CoinDesk
12. Juni 2024 um 12:00

First Mover Americas: Bitcoin Stabilizes Amid Further ETF Outflows

Finance
Politics
Bitcoin stabilizes around $68,000 following a recent plunge, with traders monitoring key macroeconomic reports from the U.S. Bitcoin ETFs experienced outflows for a second consecutive day, with $200 million exiting various products, led by Grayscale's GBTC. Donald Trump expressed a desire for all remaining Bitcoin to be 'made in the U.S.A.' during a meeting with mining company executives.
CoinDesk
13. Juni 2024 um 12:02

First Mover Americas: Bitcoin Holds $67K, CRV Slides

Finance
Economy
Technology
Bitcoin remains above $67,000 after Fed's interest rate projections; Ether fluctuates around $3,500. Paxos lays off 20% of its staff to focus on asset tokenization and stablecoins. Curve's CRV token plunges 30% as founder's loan positions liquidate.
The Street
20. Juni 2024 um 18:27

Bitcoin ETFs surpass $70 billion, equal to 5% of bitcoin supply

Finance
Economy
Technology
Bitcoin ETFs have surpassed $70 billion, holding 5% of bitcoin's total supply, with over a million bitcoin across 34 different ETFs. BlackRock and Grayscale are leading this trend, impacting the dynamics of supply and demand in the market.
Cointelegraph.com News
13. Juni 2024 um 13:47

Bitcoin price tracks $68K as 'chicken' crypto market shrugs off US PPI

Finance
Economy
Bitcoin price remains stable around $68,000 despite a slowdown in inflation data from the U.S. Bitcoin briefly spiked to $68,433 before retreating as markets reacted calmly to the latest economic indicators.
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