gbtc

Bitcoin Bulls on the Run: Bitcoin could soon cross a price level of $50k, as reported by 10x Research.GBTC and FTX Selloff Coming to an End: The selloff in GBTC and FTX seems to be coming to an end.Technical Indicators Confirm Upcoming Move: Technical indicators confirm the upcoming move in Bitcoin's price.

Markus Thielen, the renowned crypto analyst and researcher, has been making waves in the Bitcoin community with his recent predictions. Just days ago, he boldly forecasted a bottom of $38,000 for Bitcoin, capturing the attention of investors worldwide. Now, Thielen's foresight once again takes center stage as he predicts that Bitcoin could soon soar past the $50,000 mark, potentially reaching a two-year high in price.
The anticipation surrounding Bitcoin's ascent is further fueled by the upcoming halving event, slated for April 2024. This event, characterized by a reduction in miner rewards, is expected to significantly boost Bitcoin's demand, further propelling its price upward.
Thielen's analysis, rooted in the Elliott wave theory, provides valuable insights into Bitcoin's price movements. According to this theory, price fluctuations occur in distinct wave patterns, with each wave representing alternating highs and lows. Thielen's interpretation of Bitcoin's Elliott Wave pattern indicates a promising trajectory, with the recent completion of the third and fourth waves setting the stage for a bullish resurgence.
Despite encountering resistance at the psychological threshold of $50,000, Bitcoin's momentum remains strong. Technical indicators, including the Relative Strength Index (RSI), signal a favorable outlook for Bitcoin's price movement. With RSI levels nearing the threshold for significant price shifts, investors are optimistic about Bitcoin's potential to surpass current resistance levels.
Moreover, Thielen sheds light on the recent market dynamics, attributing the previous price drop in Bitcoin to factors such as sell-offs by entities like the Grayscale Bitcoin Trust. However, with outflows from Grayscale's Bitcoin ETF stabilizing and overall ETF inflows showing positive trends, market sentiment is increasingly bullish.
Looking ahead, the impending halving event and strategic whale accumulation strategies are expected to drive Bitcoin's upward trajectory. Historical data illustrates the substantial returns Bitcoin has historically delivered following halving events, reaffirming investors' confidence in its long-term potential.
While technical analysis points towards a bullish breakout, prudent risk management is advised. Establishing stop-loss levels and closely monitoring support and resistance zones can help mitigate potential downside risks in this highly volatile market environment.
As the crypto market continues to evolve, it's essential for investors to stay informed and exercise caution. While Thielen's predictions offer valuable insights, it's crucial to conduct thorough research and make well-informed financial decisions tailored to individual risk tolerances and investment objectives.

#Bitcoin #BullMarket #FTX #gbtc #cryptocurrency
$BTC

Starting from the launch of #ETFvsBTC on January 11, 2024, the fund #gbtc from Grauscale was recognized as the constant leader in capital outflow. Because of this, it even lost its status as the world's largest exchange-traded fund that tracks the dynamics of BTC. However, over the past few days the situation has changed. According to the analytical platform FarSide, four out of five days of trading #BTCETFSPOT funds recorded withdrawals. On Monday, the total outflow amounted to $64.9 million, on Tuesday - $200.4 million, on Thursday - $226.2 million, on Friday - $189.9 million. And only Wednesday, June 12, became an exception. On this day, the capital inflow in #ETFs exceeded $100.8 million. It is interesting that GBTC from Grauscale lost its status as the leader in capital outflow on Thursday and Friday. These days, $61.5 million and $52.3 million were withdrawn from the fund, respectively. Then, the outflow of funds from FBTC from Fidelity amounted to $106.4 million on Thursday and $80.1 million on Friday. This is the first time that the Fidelita fund has received negative results for two days in a row. Against the backdrop of almost a week of outflows from ETFs, Bitcoin fell to $66,000, which was the lowest price this month.#BTC $BTC $BNB $ETH

Will the U.S. stockization trend of cryptocurrency, which has been hotly discussed in institutional circles recently, become mainstream? Conclusion: This is most likely the case!
From the figure below, for our purposes, we often use the Nasdaq 100 Index to represent the 100 stocks with the largest market capitalization on Nasdaq. At the same time, the Russell 2000 index is used to represent small-cap stocks in U.S. stocks.
Since the beginning of the year, the S&P 500 Index has rebounded from 3839 to the previous high of 4607, an increase of up to 20%, of which 15.8% of the increase came from FAANG + MNT, namely Facebook, Apple, Amazon, Netflix, Google, Microsoft, Nvidia and Tesla . In other words, FAANG+MNT account for 25% of the S&P 500's market capitalization but are responsible for 79% of the year-to-date gain. (This can be compared to blue chip coins, such as the recent strong BTC #LINK #AAVE , etc.)