Bitcoin investors realized profits as BTC price hit new all-time highs throughout November. Now that the metric has reset, new highs could be in store.
Bitcoin ETF news
Bitcoin’s pullback after hitting a new all-time high above $108,000 has started a correction in select altcoins, signaling profit booking by the bulls.
Bloomberg ETF analysts Eric Balchunas and James Seyffart expect Litecoin and Hedera will also get spot ETFs, but aren’t convinced there’ll be much demand for them.
On Dec. 16, US spot and derivative Bitcoin ETFs collectively broke $129 billion in net assets, surpassing gold ETFs for the first time.
Coinbase and DeFi pose serious competition for traditional exchanges as Bitcoin ETFs beat gold by assets under management.
Bitcoin prints a new all-time high above $107,700, while several analysts call for much higher prices in the short term.
Crypto ETPs recorded $20.3 billion of inflows during the past 10 weeks, accounting for 45% of all inflows in 2024.
The Grayscale Bitcoin Trust has had $21 billion in outflows since January, overshadowing gains from the nine new US-based spot Bitcoin ETFs in the market.
Bitcoin could reach a cycle top of over $160,000 on continued interest rate cuts and macroeconomic improvements in 2025, analysts have predicted.
Bitcoin could reach a cycle top of over $160,000 on continued interest rate cuts and macroeconomic improvements in 2025, analysts have predicted.