Bitcoin is displaying renewed strength, fueled by a substantial rise in exchange-traded fund (ETF) inflows, highlighting increased investor confidence. Following three consecutive days of outflows, Bitcoin spot ETFs experienced a strong resurgence on Friday, with inflows totaling $25.6 million.
Leading Inflows Among ETFs
Among the top performers, Bitwise’s BITB led the charge with $15.3 million in fresh inflows, closely followed by Fidelity’s FBTC, which secured $13.6 million. This significant increase pushed the total assets under management (AUM) for Bitcoin ETFs to $57.7 billion, accounting for 4.7% of Bitcoin’s total market capitalization.
Ethereum Funds See Positive Momentum
Ethereum spot ETFs also gained traction, pulling in $7.4 million, largely driven by BlackRock’s ETHA, which added $14.7 million. Despite Grayscale’s ETHE experiencing outflows of $8.2 million, the net total since July remains slightly negative. While mixed, these results reflect optimism among investors anticipating a potential market rally.
Institutional Confidence in the Market’s Long-Term Prospects
The renewed interest in both Bitcoin and Ethereum ETFs signals increasing confidence among institutional investors regarding the long-term prospects of the cryptocurrency market. With Bitcoin ETFs seeing net inflows of $18.5 billion since January, the upcoming weeks will be crucial in determining whether this momentum can translate into a broader market rally.
Bitcoin Price Outlook: Consolidation and Potential Breakout
Bitcoin is currently consolidating around the $62,000 level after a brief rally. The cryptocurrency is trading within a narrowing range, forming a symmetrical triangle pattern on the 2-hour chart, a technical setup suggesting a potential breakout in either direction.
- Resistance Level: A breakout above $62,475 could trigger bullish momentum, with the next resistance target at $63,040 and further upside at $63,665.
- Support Level: Conversely, a drop below the immediate support of $61,800 could push Bitcoin down to $61,210 or even $60,740.
The Relative Strength Index (RSI) sits at 53, indicating neutral momentum, while the 50-period Exponential Moving Average (EMA) at $61,990 offers minor support. Traders are awaiting key U.S. economic data, such as the Consumer Price Index (CPI) and unemployment claims, which may act as catalysts for a breakout.
Conclusion: Traders Eye Key Levels
A break above $62,475 would signal bullish momentum for Bitcoin, while a drop below $61,800 could result in selling pressure. Traders are closely monitoring these levels as market volatility increases.
Pepe Unchained: A Strong Addition to Your Crypto Portfolio
Pepe Unchained ($PEPU) is quickly emerging as a prominent player in the meme coin market, building on the success of Pepe Coin. With meme coins gaining popularity, $PEPU offers robust staking options and presale success, making it a strong contender for investors.
Presale Milestones and Investor Confidence
$PEPU has raised $17.5 million during its presale, nearly reaching its $17.6 million target. The presale has garnered significant attention from investors, and with less than an hour left before the next price increase, now is the ideal time to get involved.
- Current Price: 1 $PEPU = $0.00993
Key Benefits of Investing in $PEPU
- Presale Opportunity: Crypto analysts, such as Jacob Crypto Bury, predict substantial returns for early investors, making the presale phase a strategic entry point.
- Passive Income Potential: With a staking feature offering a 499% annual percentage yield (APY), holders can generate significant passive income.
- Investor Confidence: Over 321 million $PEPU tokens have been staked, reflecting strong investor sentiment and confidence in the project’s long-term potential.
- Secure Investment: Pepe Unchained’s smart contract has passed rigorous audits conducted by Coinsult and SolidProof, ensuring a secure environment for investors.
Don’t Miss Out on Pepe Unchained’s Presale
The presale is nearing its next price increase, making now the perfect opportunity for potential investors to get involved. Crypto experts forecast strong growth for meme coins this year, with $PEPU positioned as one of the standout performers.
Adoption of Bitcoin Cash Increases in “Bitcoin Cash City”
In Townsville, Australia, often referred to as “Bitcoin Cash City,” over 200 retailers are accepting Bitcoin Cash (BCH) payments, demonstrating a growing trend of BCH adoption. The ease of transactions, powered by the Bitcoin.com Wallet app and point-of-sale (POS) software, has contributed significantly to this rise in adoption.
Despite this growing use, Bitcoin (BTC) continues to hold its dominant position as “digital gold” and a better store of value, even as BCH gains traction for everyday transactions.
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