Bitcoin ETFs See $555.86 Million Inflows Amid Rally Hopes
Bitcoin ETFs– On Monday, Bitcoin (BTC) exchange-traded funds (ETFs) saw inflows of $555.86 million, according to data from SoSoValue. This marks a multi-month record for ETF inflows, with the last significant surge occurring on June 4, when inflows reached $886.75 million.
Recent Price Movements
Bitcoin’s price has increased by 2.2% in the last 24 hours, as reported by CoinDesk Indices. This rise aligns with the performance of the CoinDesk 20 index, which tracks the largest digital assets. Notably, a technical indicator known as the three-line break chart suggests that Bitcoin may soon break past the $73,000 mark, indicating a potential return to an upward trend after several months of fluctuating prices.
Optimism in Prediction Markets
Market sentiment regarding Bitcoin’s price potential has shifted positively over the past week. On Polymarket, the probability of BTC reaching a new all-time high in 2024 is currently trading at 64%, an increase of 9 percentage points from the previous week. Additionally, bettors on Kalshi are assigning a 46% chance that Bitcoin’s price will hit $75,000 this year, up 7 percentage points. Bitcoin previously reached an all-time high of over $71,000 in March of this year, fueling further optimism among investors.
FAQs
What were the recent inflows for Bitcoin ETFs?
On Monday, Bitcoin exchange-traded funds (ETFs) experienced inflows of $555.86 million, marking a multi-month record. The last time inflows were higher was on June 4, when they reached $886.75 million.
How has Bitcoin’s price changed recently?
Bitcoin’s price has increased by 2.2% in the last 24 hours, according to CoinDesk Indices. This rise indicates a possible upward trend, as technical indicators suggest that Bitcoin could break past the $73,000 mark.
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