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.
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.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: promesaartstudio/123RF // Image Effects by Colorcinch
The Fresh New Memecoin Leaving Rivals (PEPE) and (BONK) For Dead A new memecoin has…
The world of finance is going through a seismic shift, and at the heart of…
Discover How Qubetics Solves Blockchain Fragmentation with Interoperability and Provides Early Access Through Its Whitelist…
The much-awaited Ether ETF launch was expected to play a massive role in Ethereum’s (ETH)…
Amid the ongoing market-wide correction, decentralized exchanges on Ethereum (ETH) have recorded substantial increments in…
It's the season of bears in the crypto market, and even the top altcoins are…