According to CoinShares, the total amount of money invested into Bitcoin Investment Reaches products this year is around $14.6 billion, and this week’s inflows were above $1 billion. Institutional and long-term investors have been increasing. Their exposure to spot Bitcoin ETFs has led to a rise in investment. A $1.01 billion was brought into Bitcoin exchange-traded products (ETPs) for the week ending May 24. With a total inflow of $1.05 billion, all Bitcoin investment products brought in a recoMay 24.9 billion in 2024.
Weekly trading volumes increased by 28% to $13.6 billion, according to CoinShares’ “Digital Asset Fund Flows Weekly” report published on May 28. At prepay 28crypto, funds oversee assets valued at $98.43 billion. Market anticipation of spot Ethereum ETF clearance in the US is the primary driver of the current rush in buying and price gains. Investors continue to pour money into spot Bitcoin ETFs, even though Bitcoin has underperformed Ether (ETH) since its introduction. Between May 20 and MayMay 20nstitMay 24, invested roughly $1.057 billion in spot Bitcoin ETFs, according to data from Farside Investors. Grayscale’s IBIT had outflows of just $20.5 million for the week, a significant decrease.
Bitcoin price remains in a range.
Famous Bitcoin specialist Daan Crypto Trades claims that price fluctuations are visible on an 8-hour chart looking at the market from a month-to-month viewpoint. Within an extensive range, from $59,095 to the all-time high of $73,800 on March 14. As per fourteen renowned analysts from Daan Crypto Trades, the price of Bitcoin on March 14 has varied substantially during the previous several months, going as low as $59,095 and as high as approximately $73,800 on that date. Minor discrepancies outside of this range were “quickly retaken,” he stated on May 27:
According to analyst Rekt Capital, the laMay 27limb back above $70,000 in Bitcoin’s price established “another local top.” This chart was posted on May 28. Hi, May 28e believes that Bitcoin Investment Reaches will probably keep consolidating between $60,000 and $70,000. An independent trader, John Albert, pointed out on May 28 that. The BiMay 28s price has been very stable for the last several weeks. He predicted that Bitcoin would face “further gains” if it were to overcome the $68,000 barrier that is now in the way.
Long-term holders and Whales Accumulate.
The low volatility of Bitcoin has attracted institutional and long-term investors, who are adding to their holdings of the cryptocurrency. For the first time since December 2023, long-term investors have been re-accumulating coins, according to the report. The Week On-chain” issued by Glassnode on May 28 last year, 28e aggregate supply of Bitcoin. Long-term holders (LTHs) have decreased by 12,000 Bitcoins, reaching 85,800 Bitcoin Investment per month, according to experts at Glassnode. A “cooling-off period” and a return to accumulation patterns are shown by this remarkable.
The decline from the peak of 519,000 BTC/month occurred in late March. Additionally, a trader and analyst named Ali Martinez observed an increase in the amount of buying activity carried out by whales. In recent days, this further supports the accumulation trend. The purpose of this essay is not to provide any recommendations or advice regarding investments. Investors and traders should do their homework before making any moves because risk is inherent in both.
