TL;DR
From Jul 5th-17th (not including weekends), roughly $2B flowed into the Bitcoin ETFs, moving the price per BTC up a cool $11k in the process.
Full Story
If you were wondering where the new uptick in crypto prices has come from, this is a major reason:
From July 5th – July 17th (not including weekends), roughly $2B flowed into the Bitcoin ETFs.
(And when Bitcoin moves, so does the rest of the crypto market).
This current streak is the longest we’ve seen in more than a month, back when inflows were positive for 19 days, between May 13 and Jun 7.
In that time, Bitcoin moved from ~$63k to ~$71k, which read like much more impressive numbers — but don’t let them fool you!
Last month’s run saw about an $8k move in price per BTC from top to bottom.
In this latest run up, we’ve moved from ~$54k to ~$65k — clocking a (rough) $11k move up in price per BTC in half the time, and adding $230B to Bitcoin’s market cap in the process.
Cool, so what’s the takeaway?
Sure, we moved from ~$71k to ~$54k over a two month period, but the latest recovery has been much faster, and covered more ground.
This increased momentum from buyers indicates greater trust in the near-term future of the market, which should mean more price resilience in the coming months.
All of which should translate to less stressing over our portfolios, and better nights sleeps.
(Thank god).
From July 5th to July 17th, approximately $2 billion flowed into Bitcoin ETFs, leading to a significant increase in the price of BTC by $11k. This surge in investment has propelled the overall cryptocurrency market forward, highlighting the impact of institutional inflows on digital asset prices. The continuous positive inflows for this period mark a significant trend, showcasing investor confidence in Bitcoin and its potential for growth.
Looking back at previous market movements, a similar inflow trend was observed between May 13th and June 7th when Bitcoin experienced positive momentum for 19 consecutive days. During this period, BTC’s price surged from approximately $63k to $71k, indicating a notable $8k increase from top to bottom. Although these numbers seemed impressive, the recent surge from around $54k to $65k, resulting in an $11k price jump over a shorter timeframe, has proved to be even more impactful.
The rapid rise in Bitcoin’s price, coupled with the substantial market cap addition of $230 billion, demonstrates the current market’s bullish sentiment and potential for further growth. Investors are showing increased interest and trust in the cryptocurrency market, leading to a faster recovery and more robust market performance. This positive momentum indicates a brighter outlook for the future, suggesting that price resilience and stability may prevail in the coming months, alleviating concerns and enabling better rest for market participants.
In conclusion, the recent influx of investments into Bitcoin ETFs has ignited a significant price surge in the cryptocurrency market, signaling a renewed sense of optimism and confidence among investors. The accelerated recovery and substantial market cap growth underscore the potential for sustained growth and stability in the digital asset space. As we continue to witness positive market trends and increased interest in cryptocurrencies, the future looks promising for both seasoned and new investors alike.
For more trending news articles related to cryptocurrency and decentralized finance, check out DeFi Daily News and stay informed on the latest developments in the digital asset industry. Happy investing and may your portfolios thrive in this dynamic market landscape!
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