Bitcoin prices have risen by nearly 31 tbt in the past 24 hours, trading at $71,187 per coin as of 01:45 am EST. Trading volume has surged by nearly 201 tbt.
Meanwhile, net inflows into spot Bitcoin ETFs (exchange-traded funds) hit a new high of nearly $887 million, their second-highest on record.
Fidelity led the pack with $378.7 million in net inflows, followed by BlackRock’s IBIT with $275 million.
Fidelity is not to be underestimated, The Ten had very strong inflows today, almost $1 billion. This was the second best day since mid-March, bringing inflows over the past 4 weeks to $3.3 billion, and net inflows to $15 billion so far this year (near the upper end of our 12-month forecast). This "third wave" is turning into a massive wave.
BlackRock reportedly purchased 3,900 Bitcoin tokens, worth more than $273 million at current exchange rates.
Bitcoin Price Prediction Amid Increasing Bitcoin ETF Inflows
Bitcoin price is trading in a bullish trend, consolidating inside an ascending channel. If the bulls can keep the price inside this channel, there will be more gains for Bitcoin holders. If the buying pressure increases above the current levels, there are chances that Bitcoin price will regain gains.
A solid close above the channel’s centerline will set the tone for Bitcoin price to recapture its all-time high of $73,570.
It is worth noting that the Moving Average Convergence Divergence has crossed the orange area of the signal line, effectively executing a buy signal. When the MACD line crosses the signal line, it is often seen as a bullish signal in technical analysis.
This crossover indicates that the shorter-term moving average (MACD line) is crossing over the longer-term moving average (signal line), indicating a shift in the upward momentum of the asset price.
Traders and investors often interpret this crossover as a potential buying opportunity as it represents a shift in positive momentum and a possible near-term higher price. This is considered a confirmation of bullish momentum.
This view is supported by the higher lows on the relative strength index (RSI), which suggests that bullish momentum is building.
On the other hand, if the bears start booking profits, the price of Bitcoin could retrace. In this case where the trend is biased to the downside, Bitcoin could fall below the Fibonacci line of the golden zone, and a break below the $65,120 Fibonacci placeholder would invalidate the bullish thesis.
Meanwhile, as the price of bitcoin rises, investors are also rushing to buy 99BTC, a presale that is set to raise more than $2 million.
“If you want to make money… 99Bitcoins might be for you,” said ClayBro, a crypto YouTuber behind the project.
99BTC is the driving token of 99Bitcoins, an improved education platform dedicated to commoditizing education. In simple terms, when you learn about cryptocurrencies, you can earn cryptocurrencies through a unique gamification and leaderboard reward system. Therefore, learning brings tangible rewards.
You can also stake your 99BTC tokens to earn a return of 863% per year. To date, more than 1.262 billion 99BTC tokens have been staked.
Those who hold 99BTC tokens can gain exclusive access to premium modules as 99BTC token holders.
Each 99BTC token is currently priced at $0.00108. However, the price will increase in about 6 days, so if you are interested, buy it as soon as possible.
Buy 99Bitcoins on the official website using ETH, USDT or a bank card.
In addition, it is reported that 99Bitcoins will issue 99 BTC tokens, of which 15% will be sold in fourteen pre-sales. The goal is to raise the necessary funds to accelerate the development of the project's BRC-20 integration.
Our Learn to Earn platform is at the core of our educational mission. You’ll be able to delve into a variety of topics, from blockchain basics to advanced trading strategies, while unlocking rewards!
Each 99BTC token is priced at $0.00108. There will be a price increase in about 6 days, so buy it soon if you are interested.
Visit the pre-sale page
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