The post Bitcoin ETF flows will send BTC price into ‘parabolic run,’ traders say appeared on BitcoinEthereumNews.com.

BTC’s price remains steady above $69,000; analysts say increased spot Bitcoin inflows could take the price higher. Bitcoin is on the verge of entering a “parabolic run” fueled by increasing inflows into United States spot Bitcoin (BTC) exchange-traded funds (ETFs), according to crypto analysts. Spot Bitcoin (BTC) ETFs have witnessed positive flows for 19 straight days, with close to $1.7 billion coming this week alone, according to data from Farside Investors. Analysts say if this trend continues, Bitcoin’s price will surpass its all-time high of $73,835 set in March. As of June 6, more than $15.5 billion have flowed into spot Bitcoin ETFs with the funds holding around 5.2% of all BTC in circulation, according to data from HODL15Capital. Read more Source: https://cointelegraph.com/news/bitcoin-etf-flows-will-send-btc-price-into-parabolic-run-traders-say

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Filed under: News - @ June 9, 2024 5:20 am