Bitcoin ETFs See Historic Surge – Institutions Go Bullish On BTC With $1.38 Billion Record Inflows
2024年11月9日 - 12:30AM
NEWSBTC
Yesterday, Bitcoin had one of its most bullish days in history,
skyrocketing past its all-time high to reach $76,990. This new
milestone has ignited widespread excitement and confidence among
investors, who now see the potential for further gains. Key
data from Carl Runefelt reveals that Bitcoin ETFs experienced a
historic surge, with $1.38 billion in net daily inflows. This
record-breaking figure highlights institutional demand for Bitcoin,
as major players like BlackRock are buying BTC in anticipation of
long-term growth. Related Reading: Solana Breaks Above Key
Resistance – Top Analyst Sets $300 Target The influx into Bitcoin
ETFs underscores a broader trend of institutional adoption, with
increasing interest from financial giants as they recognize
Bitcoin’s potential as a store of value and hedge against economic
uncertainty. Runefelt’s analysis suggests that this level of demand
is unprecedented, marking a turning point that could sustain
Bitcoin’s bullish momentum. The recent surge is not just a
technical breakout but also a fundamental shift driven by
institutional confidence, setting Bitcoin up for potential further
highs as large-scale investors continue to enter the market.
Bitcoin Hits New ATH Bitcoin has surged into uncharted territory,
breaking its previous all-time highs once again to reach a new peak
that has captivated the crypto community. This historic rally comes
on the heels of the U.S. election, which saw Donald Trump emerge
victorious. Market sentiment suggests that Trump’s pro-crypto
stance could have played a role in driving renewed confidence among
U.S. investors, who are looking to Bitcoin as a hedge amid changing
economic policies. Adding to this momentum, traditional investors
increasingly pour into Bitcoin through ETFs, marking a significant
shift in institutional interest. According to key data from SoSo
Value, shared by prominent analyst Carl Runefelt on X, Bitcoin ETFs
experienced record-breaking daily inflows yesterday, totaling an
astounding $1.38 billion. This historic inflow underscores the
growing appetite from institutional players who are viewing Bitcoin
as a critical asset for their portfolios. The recent bullish shift
among institutions follows a prolonged 7-month accumulation phase
that had cast shadows of doubt over Bitcoin’s potential to break
new highs this year. Many investors remained cautious, with market
volatility and uncertainty testing their confidence. Related
Reading: Bitcoin Indicator Signals Equilibrium After Trump Victory
– A Clear Path To New Highs? With institutional backing at record
levels, Bitcoin’s recent rally could signify the beginning of an
extended bullish phase. As big players like BlackRock buy-in
through ETFs, the market sees this as a signal of renewed strength.
All eyes are now on Bitcoin’s next moves, with analysts suggesting
the recent price action may only be the beginning of a larger bull
run for the world’s largest cryptocurrency. BTC Pushing Up: Strong
Price Action Bitcoin is trading at $76,000 after reaching new
all-time highs. BTC is entering a strong consolidation phase above
the previous record level of $73,800. This price zone is crucial
for bulls, as holding above it could provide stability for
Bitcoin’s rally to continue. Analysts are closely watching this
level; if BTC can respect it, the bullish momentum may persist,
encouraging further gains. However, the recent euphoria could lead
to a consolidation phase just below $77,000—a level some experts
identify as a short-term local top. This resistance could take time
to overcome as the market digests recent gains and awaits fresh
catalysts for another breakout. Related Reading: Ethereum Analyst
Sets $3,400 Target Once ETH Breaks Key Resistance – Details Despite
potential consolidation, demand remains robust, and on-chain data
reflects strong buying pressure that could continue driving the
price upward. The technical outlook suggests further upside
potential if Bitcoin can stay above $73,800 over the coming days.
Bulls are optimistic, as it could establish a solid foundation for
the next leg up in Bitcoin’s ongoing rally. Featured image from
Dall-E, chart from TradingView
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