There is a significant correlation between the inflow of funds into Bitcoin ETFs and the profitability of miners, which is likely to drive the continued rise of Bitcoin (BTC).

Although the data from the derivatives market presents mixed signals, the increase in active addresses and the rise in open contracts indicate that the market remains active.

Analyst Amr Taha points out that capital inflows into Bitcoin ETFs typically accompany price increases, while outflows may lead to price declines.

In addition, the profitability of miners is closely related to Bitcoin prices; when prices rise, miners' profits increase, and vice versa may lead to losses.

In May 2024, Bitcoin prices fell sharply, causing miners' profitability to drop to very low levels.

Currently, the inflow of funds into BTC ETFs is strong, exceeding $200 million in the past seven days, indicating a rising demand for Bitcoin-related financial products.

At the same time, the inflow of miners is also increasing, suggesting that institutional interest and miners' activity are driving Bitcoin's price movements.

The number of active Bitcoin addresses has grown, increasing from 630,000 on October 16 to 719,000 on the 22nd, indicating a rise in user engagement.

Although the overall open interest in contracts has decreased, its scale is growing, indicating that market expectations for price volatility are strengthening.

These factors collectively support the bullish momentum of Bitcoin. Stay tuned for night brewing, bull market strategy layouts, and share various tips to learn more about hundred-fold coins #币安上线SCR现货 #YGG、ADA、ENA解锁 #盘整行情分析 #美国大选前行情观察