Bitcoin spot Exchange-Traded Funds (ETFs) have recorded their ninth consecutive day of net inflows, amounting to $53.3475 million. This trend underscores growing investor confidence in Bitcoin as a viable asset class. Leading the inflows is BlackRock’s IBIT ETF, which saw a net inflow of $110 million, while Fidelity’s FBTC ETF also contributed with $2.8259 million. Conversely, the Grayscale Bitcoin Trust (GBTC) experienced a net outflow of $53.8612 million.
CryptoQuant's analysis highlights a significant technical indicator: Bitcoin’s price has reclaimed the Short Term Holder (STH) Realized Price, often leading to at least 30% profits. This suggests potential for another upward trend, marking a bullish signal for short-term investors.
These developments come as regulatory scrutiny increases and institutional interest grows. The interplay between traditional finance and cryptocurrencies will be a key topic at Benzinga’s Future of Digital Assets conference on Nov. 19.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
