Currently, Bitcoin prices are stable above $105,000 on Saturday. This is because investment trade funding data shows investors who purchased the DIP on Friday.
Bitcoin (BTC) rose to $105,300, up 2.4% from Friday’s lowest point, 5% above this month’s lowest point.
Sosovalue data shows that Spot Bitcoin ETF saw an influx of $303 million on Friday, even as Bitcoin prices fell to nearly $100,000. This has resulted in a total weekly inflow of ETFs of $1.3 billion. This is a sharp turnaround from last week’s $180 million outflow.
BlackRock’s iShares Bitcoin ETF, whose ticker symbol is IBIT, had an influx of $238 million every day on Friday, bringing its cumulative figure to $49.7 billion. Currently, it has $70 billion in assets, making it the fastest growing ETF in finance.
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Started in 2004, SPDR Gold Trust has accumulated $100 billion in assets. This means IBIT could potentially turn its biggest gold ETF in 2026 for the next few months or if the trend continues.
Fidelity’s FBTC ETF has had over $11 billion inflows, while Bitwise’s BITB has had $2 billion since its inception.
The reason Wall Street investors bought Bitcoin dip is that they maintain a strong basics. A BlackRock data show where Bitcoin defeated the stock market after major geopolitical events such as the Iranian and Israeli attacks.
Bitcoin exchange supply plummeted from 1.5 million in January to 1.1 million today. Falling Bitcoin consumables when they fall can raise prices in the long term.
Bitcoin Price Long-Term Chart refers to multi-year breakouts
BTC Price Chart | Source: crypto.news
Monthly charts show a strong Bitcoin price breakout in the short term. This chart shows that Bitcoin formed a round bottom between December 17th and March 2021.
Since November 2021, Bitcoin has formed another round bottom. Prices are slightly below the uptrend line connecting the top of these round bottoms.
So the coin could be about to leave the eight-year trendline, which could push much higher in the long run. Ark Invest believes that Bitcoin will skyrocket to $2.4 million by 2030, but Michael Saylor’s medium-term forecast is $1 million.
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