According to CoinShares, anticipation for the United States elections and Republican gains are fueling bullish market sentiment.
Bitcoin ETF news
It’s the first United States university endowment to report holding Bitcoin ETFs, according to Bloomberg.
Bitcoin ETFs are recording solid buying, a sign that traders believe to be an indicator that BTC will break through the range highs.
Spot Bitcoin ETFs will need to make an average of $301 million in net inflows per day to get it done this week.
Bitcoin’s path to $70,000 hinges on lower interest rates, the US election outcome, boosted BTC miner profits, and strong spot ETF demand.
Spot Bitcoin ETF demand soars to a six-month high, but BTC futures contract volumes “remain somewhat subdued” and could be a reason why the price is constrained.
In the United States, issuers are seeking to register ETFs for Solana and XRP ahead of the November presidential elections.
Institutional adoption, US government overspending and future economic stimulus packages are just a few reasons why analysts believe Bitcoin price is on the path to $100,000.
Retail investors, not institutions, have been responsible for most of the demand for spot bitcoin ETFs since their launch, says a new report from Binance.
Bitcoin’s correction ignited selling in altcoins, which are slipping below critical support levels.