Ending the net outflow! ETF net inflow of $15.4 million on Monday, will Bitcoin hit $80,000 next?
Bitcoin spot ETF saw net outflows for a consecutive week, indicating a decrease in buying pressure and causing the price of Bitcoin to retrace from its high point of 73,000 to 60,000. However, this week in the United States on March 25th, there was a slight recovery in fund inflows, with a net inflow of 15.4 million US dollars. Among them, BlackRock’s IBIT saw an inflow of 35.5 million US dollars, Fidelity’s FBTC saw an inflow of 261 million US dollars, while GBTC saw an outflow of 350 million US dollars.
Source: coinglass
10x research, an analysis company known for its astonishing predictions, believes that Bitcoin will remain bullish unless the trading price falls below 68,000. In their bullish prediction the day before yesterday, they suggested the possibility of a 15,000-20,000 point increase.
With the arrival of the end of March, the trading conditions for this week may provide a glimpse if institutional investors intend to showcase more Bitcoin exposure this quarter. As a certain scale of institutions needs to publicly disclose their investments, investment institutions with assets under management exceeding 100 million US dollars by mid-May will also be disclosed if they invest in Bitcoin ETFs. If well-known institutions enter the Bitcoin market, it is expected to benefit the market sentiment towards Bitcoin. (Institutional investors entering Bitcoin spot ETF? Find out in the May 13F report)
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Source: 10x research
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10x research
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Further reading
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