This week has seen a surge in positive commentary on Bitcoin, marking the highest level of bullish sentiment from the crypto community since mid-May.

The prevailing optimism suggests that many believe a $70,000 Bitcoin price is within reach.

On Binance, top traders are seizing the opportunity to buy the Bitcoin dip, with nearly 70% of them going long on $BTC. This indicates a strong belief in Bitcoin’s potential for growth in the near future.

Significant Movement In The Bitcoin Market To Monitor 

Regarding Bitcoin ETFs, there have been notable movements in the market. On July 31, the Bitcoin spot ETF recorded a total net inflow of $298,900. Grayscale’s ETF GBTC showed no net outflow, while Grayscale’s mini ETF BTC saw a significant net inflow of $17.9954 million. BlackRock’s ETF IBIT attracted an inflow of $20.9892 million, demonstrating investor confidence. Meanwhile, Fidelity’s FBTC experienced a net outflow of $31.57 million.

Overall, the current market sentiment and trading behaviors point to a strong bullish outlook for Bitcoin, with both traders and investors showing increased confidence in the cryptocurrency’s future.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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