Bitcoin ETFs See Record Inflows Amid Renewed Investor Interest
- Surge in Inflows: Last week, U.S.-listed Bitcoin ETFs attracted over $786 million in inflows, marking the highest level of investor enthusiasm in nearly two months, indicating a revival in market activity.
- BlackRock's Dominance: BlackRock's iShares Bitcoin Trust drew approximately $612 million during the week, showcasing its ongoing success in attracting significant investments since its launch in early 2024, solidifying its pivotal role in global asset management.
- Morgan Stanley's New Fund: Morgan Stanley's MSBT fund garnered about $46 million in its initial trading days, which, while lower than BlackRock's figures, highlights the potential for mainstream investors to gain Bitcoin exposure through regulated channels due to Morgan Stanley's robust distribution framework.
- Bitcoin Price Surge: Bitcoin's price increased from around $67,000 to $73,411, reflecting a 9% appreciation that aligns with the ETF inflow trend, signaling renewed investor confidence and potential market recovery.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 60150.207 | 63941.108 | 68456.197 | 72247.098 | 76762.187 | 80553.088 | 85068.177 |
| Fibonacci | 63941.108 | 67113.997 | 69074.21 | 72247.098 | 75419.987 | 77380.2 | 80553.088 |
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