Crypto News Roundup: Top 3 Crypto Headlines
- The chart indicates that the pullback from record highs is characterized by a declining trendline, which bitcoin is attempting to overcome.
- There could be short-term profits if there was a breakout here.
- $65,000 may prove to be strong resistance, according to on-chain analysis.
July Brings Hope for Bitcoin with $130M ETF Inflows
After an underwhelming second quarter in which BTC was pulled down by billions in sales and unfavorable sentiment among retail traders, proponents of Bitcoin may have cause for celebration as we approach July. U.S.-listed ETFs had inflows of around $130 million on the opening day of the month, the most since early June, following outflows of over $900 million during the month. According to research, bitcoin has increased in value by more than 11% on average for the past ten years in July, with profits in seven of those ten years.
Changing Market Sentiment: Ether-Tracked ETFs Lose $120M, Bitcoin ETPs Gain $10M Inflows
According to a report released by CoinShares on Monday, approximately $120 million was removed by professional investors from ether-tracked exchange-traded funds in the last two weeks. The net outflows for these products were $60 million in each of the last two weeks, the most since August 2022. It appears that opinion may be shifting as multiasset and bitcoin ETPs had inflows of $18 million and $10 million, respectively.
Gemini Predicts Strong Growth for US Ether ETFs with $5 Billion Inflows
According to cryptocurrency exchange Gemini, net inflows into US ether ETFs might reach $5 billion in the first half of the year. According to the research, the flows add up to a total AUM for ETH ETFs in the United States of $13 billion to $15 billion in the first half of the year, when combined with the present assets under the management of the Grayscale Ethereum Trust (ETHE). According to Gemini, ether’s market value in relation to bitcoin is still quite low, and the inflows may help it rise in that regard.
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