Bitcoin ETFs inflows hit $20B, outpace Gold ETFs 10x: What’s next?
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Bitcoin ETFs surpassed $20 billion in inflows in their debut year, outpacing Gold ETFs by 10 times. BTC exchange inflows drop by 95.93% in 48 hours, while its social volume rises steadily. U.S. Bitcoin [BTC] ETFs have surpassed an impressive $20 billion in inflows within their first year, as mentioned in a recent tweet by MartyParty. This stands in great contrast to Gold ETFs, which attracted much lower inflows in their first year. The rapid adoption of BTC ETFs underlines increasing interest in digital assets, further cementing Bitcoin’s position as a key player in the investment universe. Bitcoin exchange inflows dip While ETFs are seeing heavy inflows, Bitcoin’s exchange inflows have dropped significantly by over 95.93% in the last 48 hours. This suggests a shift in investor behavior as fewer participants are moving their BTC to exchanges. Consequently, the reduction in inflow may be an indicator of the holders’ bullish attitude, as they are opting to hold the assets rather than sell. Source: CryptoQuant Liquidity heatmap settles at equilibrium AMBCrypto analysis of the liquidity heatmap data revealed a balance in Bitcoin’s liquidity levels. Over the past 24 hours alone, liquidity at the $68.8k and $67.5k price levels has reached equilibrium, with 49.12 million at both points. Perhaps this would indicate that BTC is going into consolidation, gathering energy to propel prices. Source: Coinglass Bitcoin social volume on the rise Complementing the inflows into the ETF and stability of the market is the gradually increasing BTC social volume. Since the 12th of October, the social volume of Bitcoin has kept upwards, indicating higher engagement and interest across communities. This surge in social activity suggests that Bitcoin is once again a hot topic, and more people than analysts and investors are talking about its price, technology, and future potential. Read Bitcoin’s [BTC]…
Filed under: News - @ October 20, 2024 6:11 pm