Bitcoin (BTC) is down in 3.6% last week, falls around $ 119,800 in a $ 114,500 list during writing. This is a weakened pricing and shown in SPOT Bitcoin sales (ETFS).
The BitCoin ETF sees a great exit
According to the recent cryptoke of AMR Taha provider, Blackrock’s Bit Etf recorded $ 2.6 billion in the past two months in all the Bitcoin ets.
Taha emphasized that a sharp return to the Bitcoin etfs came after a few weeks of good intervention, and reflects the growing sense of ETF investors. Details from Social confirm the practice.
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In the week ending on August 1, US GITCOIN ETF spots recorded total $ 643 million. This is a mark of the end of the seventh weeks of good restrictions, which had $ 10 million.
Another important factor is that out of 2.6 billion from the Ibit in Blackrock’s Bit and ETF has not been shown some ETFs. Analyst Taha also pointed the connection between the Ibit exit and the transfer of Muman-Oror Spred Spron on the Tron network.
In his analysis, the Cryploquusion provider noted that Ibit wasted the air, USDT transmission to TRON from Binance Fall nearly $ 1.3 Utaha and added:
Time is firmly proposing between the efficient ETF-operated pressure and speedy speed of Tron and Tron, Blockchain famous with fast and expensive transactions.
The minimum cash network’s and speed makes it a preferred block and the transfer of Stablecoin. Therefore, a decrease of USDT transmission from Binance – occurs in Tandem with an Ibit out – suggests that the interest interest on BTC may temporarily cool.
The latest data of On-Chain shows the binalance continues to lead another exchange such as OKX, HTX, and the Kucoin in accordance with USDT-based transmission. As a result, the styles of the Binance volume usually work as a trusted indicator of investment shifts.
New data points to mixed predictions
Without a weakening of ETF weak, new exchange data signs the potential bitcoin pins on the nearest table. For example, the ATCHER volume of Binance go down To – $ 160 million last week, indicating an increase in a separate work.
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From a technological point of view, things seem less than hope. Crypto Analyst Josh Olszewicz recently tired That BTC can remain tied in distance until October 2025.
Still, not all signs exist. Recent Report from Coinshares measurement That Bitcoin can increase into $ 189,000 if you only capture the 2% of Global M2 M2 Supply or 5% of gold market market. In the event of the press, BTC trading at $ 114,494, up 0.3% in the last 24 hours.
Picture entered from Underhesch, charts from Cryptiquant and TradingView
