The post Bitcoin (BTC) Surges to New Heights Amidst Robust Capital Inflows appeared on BitcoinEthereumNews.com.

Lawrence Jengar Nov 21, 2024 03:09 Bitcoin’s price hits an all-time high of $93k, driven by $62.9 billion capital inflows, with ETFs playing a critical role in stabilizing the market. Bitcoin (BTC) has continued its impressive upward trajectory, reaching an all-time high (ATH) of $93,000. This surge is driven by strong capital inflows, totaling $62.9 billion over the last 30 days, according to Glassnode. The influx is largely attributed to the increased demand from both exchange-traded funds (ETFs) and the spot market. Capital Inflows and Market Dynamics Since November began, Bitcoin has consistently set new ATHs, reflecting a pattern reminiscent of previous cycles between 2015-2018 and 2018-2022. This consistency provides insights into Bitcoin’s macro price behavior and market structure. Historical data suggests bull markets can last between four to eleven months, offering a framework for current market analysis. Bitcoin’s market capitalization has soared to $1.796 trillion, surpassing significant global assets like silver and Saudi Aramco. The cryptocurrency now trails Amazon by only 20%, marking its next potential milestone among the world’s most valuable assets. Role of ETFs in Market Stability ETFs have absorbed approximately 90% of the selling pressure from long-term holders (LTHs) during the recent surge. This highlights the growing importance of institutional buyers in maintaining market liquidity and stability. From October to mid-November, ETFs have seen inflows ranging from $1 billion to $2 billion weekly, underscoring the significant institutional demand. Despite this, recent data indicates LTH sell-side pressure is beginning to outpace ETF inflows, echoing patterns seen earlier in 2024. This imbalance could lead to increased market volatility. Long-Term Holders and Market Implications Long-term holders have been pivotal in the current market dynamics, with 128,000 BTC sold from October 8 to November 13. This activity is typical as LTHs tend to take profits when prices are favorable. The…

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Filed under: News - @ November 21, 2024 4:17 am