{"id":608623,"date":"2024-05-17T16:00:12","date_gmt":"2024-05-17T16:00:12","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=608623"},"modified":"2024-06-11T07:28:40","modified_gmt":"2024-06-11T07:28:40","slug":"bitcoin-bulls-warming-up-as-spot-etf-inflows-exceeds-1-3-billion-in-2-weeks","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/bitcoin-bulls-warming-up-as-spot-etf-inflows-exceeds-1-3-billion-in-2-weeks\/","title":{"rendered":"Bitcoin Bulls &#8220;Warming Up&#8221; As Spot ETF Inflows Exceeds $1.3 Billion In 2 Weeks"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Even after the upswing mid-this week, Bitcoin prices remain wavy, considering price action in lower time frames. The coin is retesting $66,000 at spot rates, but traders expect the breakout to have been confirmed, pushing BTC prices toward $70,000. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Since the surge to all-time highs in March, the coin has been on a steady downtrend, as shown in the formation on the daily chart.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">BTC Liquidity Is High Despite Accumulation: Analyst<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Therefore, as doubt creeps in, Willy Woo, a Bitcoin on-chain analyst, is calming down market participants, saying the coin is preparing for sharp gains in the days ahead. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/xrp-news\/crypto-analyst-xrp-price-explosion-over-18\/\" target=\"_blank\" rel=\"noopener \">Crypto Analyst Predicts XRP Price Explosion To Over $18<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Though prices are flat-lining in the daily chart, what&#8217;s important to note, Woo\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/woonomic\/status\/70810020\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">says<\/span><\/a><span data-preserver-spaces=\"true\">, is the level of liquidity.<\/span><\/p>\n<figure id=\"attachment_608624\" aria-describedby=\"caption-attachment-608624\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-608624\" src=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxWE2GboAAB7EV.jpg?resize=1024%2C707\" alt=\"Bitcoin risk signal | Source: @woonomic on X\" width=\"1024\" height=\"707\" srcset=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxWE2GboAAB7EV.jpg?w=2844 2844w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxWE2GboAAB7EV.jpg?w=460 460w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxWE2GboAAB7EV.jpg?w=768 768w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxWE2GboAAB7EV.jpg?w=860 860w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxWE2GboAAB7EV.jpg?w=1536 1536w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxWE2GboAAB7EV.jpg?w=2048 2048w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxWE2GboAAB7EV.jpg?w=750 750w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxWE2GboAAB7EV.jpg?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-608624\" class=\"wp-caption-text\">Bitcoin risk signal | Source: @woonomic on X<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Sharing a chart on X, Woo emphasized Bitcoin&#8217;s position within its liquidity cycle. The Bitcoin liquidity cycle is simply a chart showing the boom and bust periods of the world&#8217;s most valuable coin. Every cycle in history is highly influenced by the availability and flow of capital in and out of the asset.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The analyst is upbeat, arguing that though prices are down from all-time highs and appear stuck in a consolidation, the coin is still in a &#8220;warm-up&#8221; phase. Woo adds that the current consolidation period means the long-term risk is low in light of the relatively high liquidity.\u00a0<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/IHKzettS\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/IHKzettS\/\" alt=\"Bitcoin price trending upward on the daily chart | Source: BTCUSDT on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">Bitcoin price trending upward on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/IHKzettS\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Comparing the current state of affairs to past price action, the analyst predicts that Bitcoin prices will likely surge. When &#8220;the floodgates open&#8221; and new capital enters the market, prices will shoot higher, but so will risk.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Bitcoin Uptrend Just Getting Started?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Ki Young Ju, the founder of CryptoQuant, a crypto analytics platform, has supported Woo&#8217;s position. To X, Ju <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/ki_young_ju\/status\/44869878\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">said<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0Bitcoin is in the middle of a bull cycle.\u00a0<\/span><\/p>\n<figure id=\"attachment_608625\" aria-describedby=\"caption-attachment-608625\" style=\"width: 697px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-608625\" src=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxnCRCbIAA_mq-.png?resize=697%2C419\" alt=\"Bitcoin market versus realized caps | Source: @ki_young_ju via X\" width=\"697\" height=\"419\" srcset=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxnCRCbIAA_mq-.png?w=697 697w, https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/05\/GNxnCRCbIAA_mq-.png?w=460 460w\" sizes=\"(max-width: 697px) 100vw, 697px\"><figcaption id=\"caption-attachment-608625\" class=\"wp-caption-text\">Bitcoin market versus realized caps | Source: @ki_young_ju via X<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">To explain this view, the founder noted that Bitcoin&#8217;s capitalization has been growing faster than the realized cap. The realized cap is a metric that aims to gauge the total value of all coins in circulation based on the price at which they were last moved. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This trend has persisted for roughly two years historically. If this pattern holds, the bull cycle could end by April 2025.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/did-a-dogecoin-whale-just-sink-the-doge-ship-the-30-million-transfer-mystery\/\" target=\"_blank\" rel=\"noopener \">Did A Dogecoin Whale Just Sink The DOGE Ship? The $30-Million Transfer Mystery<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Amid this, interest in spot Bitcoin exchange-traded funds (<a href=\"https:\/\/www.ktsl888.com\/news\/is-the-crypto-winter-thawing-us-bitcoin-etfs-record-first-inflows-in-weeks-coinshares\/\" target=\"_blank\" rel=\"noopener \">ETFs<\/a>) appears to be swelling. An ETF analyst, Eric Balchunas, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/EricBalchunas\/status\/22745158\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">said<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0these derivative products have attracted a net inflow of over $1.3 billion in the last two weeks alone. This uptick effectively offset the negative flows seen in April.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from DALLE, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Even after the upswing mid-this week, Bitcoin prices remain wavy, considering price action in lower time frames. The coin is retesting $66,000 at spot rates, but traders expect the breakout to have been confirmed, pushing BTC prices toward $70,000. Since the surge to all-time highs in March, the coin has been on a steady downtrend, as shown in the formation on the daily chart. BTC Liquidity Is High Despite Accumulation: Analyst Therefore, as doubt creeps in, Willy Woo, a Bitcoin on-chain analyst, is calming down market participants, saying the coin is preparing for sharp gains in the days ahead. Related Reading: Crypto Analyst Predicts XRP Price Explosion To Over $18 Though prices are flat-lining in the daily chart, what&#8217;s important to note, Woo\u00a0says, is the level of liquidity. Sharing a chart on X, Woo emphasized Bitcoin&#8217;s position within its liquidity cycle. The Bitcoin liquidity cycle is simply a chart showing the boom and bust periods of the world&#8217;s most valuable coin. Every cycle in history is highly influenced by the availability and flow of capital in and out of the asset. The analyst is upbeat, arguing that though prices are down from all-time highs and appear stuck in a consolidation, the coin is still in a &#8220;warm-up&#8221; phase. Woo adds that the current consolidation period means the long-term risk is low in light of the relatively high liquidity.\u00a0 Comparing the current state of affairs to past price action, the analyst predicts that Bitcoin prices will likely surge. When &#8220;the floodgates open&#8221; and new capital enters the market, prices will shoot higher, but so will risk. Bitcoin Uptrend Just Getting Started? Ki Young Ju, the founder of CryptoQuant, a crypto analytics platform, has supported Woo&#8217;s position. To X, Ju said\u00a0Bitcoin is in the middle of a bull cycle.\u00a0 To explain this view, the founder noted that Bitcoin&#8217;s capitalization has been growing faster than the realized cap. The realized cap is a metric that aims to gauge the total value of all coins in circulation based on the price at which they were last moved. This trend has persisted for roughly two years historically. If this pattern holds, the bull cycle could end by April 2025. Related Reading: Did A Dogecoin Whale Just Sink The DOGE Ship? The $30-Million Transfer Mystery Amid this, interest in spot Bitcoin exchange-traded funds (ETFs) appears to be swelling. An ETF analyst, Eric Balchunas, said\u00a0these derivative products have attracted a net inflow of over $1.3 billion in the last two weeks alone. This uptick effectively offset the negative flows seen in April. Feature image from DALLE, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":606170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,78790,89583],"class_list":["post-608623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusdt","tag-spot-bitcoin-etfs"],"acf":[],"yoast_head":"\n<title>Bitcoin Bulls &quot;Warming Up&quot; As Spot ETF Inflows Exceeds $1.3 Billion In 2 Weeks<\/title>\n<meta name=\"description\" content=\"Bitcoin bulls, one analyst says, are &quot;warming&quot; up preparing for a strong leg up in the coming weeks. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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