After confirming the breakout of $49,000, $BTC is now printing a strong green candle to the upside. Currently at $51,500, the price appears to be unchecked. How long can this parabolic price action continue?
Since $BTC bottomed, after its correction from $49,000, when the Spot Bitcoin ETF approvals were announced, it has gone up more than 33%, or just over $13,000. This was a very short-lived correction, and now $BTC is making up for lost time.
Things look rosy for bitcoin
Behind the scenes things are looking very rosy for the king of the cryptocurrencies. The average inflows for the combined Spot Bitcoin ETFs are around $125 million per day for the last month. And despite the $6 billion in heavy outflows from the Grayscale Bitcoin Trust (GBTC), this has been more than compensated by the $11 billion flowing into the other 10 Spot Bitcoin ETFs.
With all this ETF activity, together with a lot of spot buying from retail investors, many more of whom might have jumped on the bandwagon after
We współpracy z: https://cryptodaily.co.uk/2024/02/bitcoin-continues-its-massive-rise
