{"id":4434,"date":"2024-03-18T17:20:19","date_gmt":"2024-03-18T17:20:19","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=4434"},"modified":"2024-03-18T17:20:22","modified_gmt":"2024-03-18T17:20:22","slug":"bitcoin-faces-crucial-test-as-etf-inflows-slow","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/bitcoin-faces-crucial-test-as-etf-inflows-slow\/","title":{"rendered":"Bitcoin Faces Crucial Test as ETF Inflows Slow"},"content":{"rendered":"\n

Bitcoin’s recent rally to near-record highs may be at a crossroads, according to 10X Research. The firm points to the next couple of days as a critical period for Bitcoin, with ETF inflows serving as a litmus test for the cryptocurrency’s immediate price direction. Despite achieving all-time highs of approximately $74,000 last week, Bitcoin experienced a downturn, raising questions about the sustainability of its recent gains.<\/p>\n\n\n\n

Record ETF Inflows Last Week<\/h2>\n\n\n\n

U.S.-listed spot Bitcoin ETFs witnessed unprecedented inflows, drawing $2.6 billion in the week ending March 15. This surge in investment played a pivotal role in propelling Bitcoin’s value. However, as the week progressed, inflows began to diminish, with Thursday and Friday seeing significantly lower figures. This slowdown coincided with a sharp decline in Bitcoin’s price to below $65,000 over the weekend.<\/p>\n\n\n\n

The Forecast Ahead<\/h2>\n\n\n\n

Markus Thielen of 10X Research notes that Monday and Tuesday will be crucial in determining Bitcoin’s next move. A continuation of the slowdown in ETF inflows could signal the start of a deeper correction, potentially bringing Bitcoin’s price down to as low as $59,000. Despite this potential downturn, Thielen remains optimistic about Bitcoin’s prospects, suggesting that a rebound above $70,000 could trigger a significant rally.<\/p>\n\n\n\n

Bull Market Not Over Yet<\/h2>\n\n\n\n

The analysis by 10X Research counters the more bearish narratives, suggesting that the bull market for Bitcoin is far from over. With Standard Chartered recently revising its year-end price target for Bitcoin to $150,000 and anticipating a high of $250,000 by 2025, the long-term outlook for Bitcoin remains bullish.<\/p>\n\n\n\n

As the cryptocurrency community watches closely, the performance of Bitcoin ETFs in the coming days will likely play a pivotal role in shaping the short-term trajectory of the world’s largest digital asset.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin’s recent rally to near-record highs may be at a crossroads, according to 10X Research. The firm points to the next couple of days as a critical period for Bitcoin, with ETF inflows serving as a litmus test for the cryptocurrency’s immediate price direction. Despite achieving all-time highs of approximately $74,000 last week, Bitcoin experienced […]<\/p>\n","protected":false},"author":6,"featured_media":4441,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[257,43],"tags":[],"class_list":{"0":"post-4434","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-general-news"},"acf":[],"yoast_head":"\nBitcoin Faces Crucial Test as ETF Inflows Slow<\/title>\n<meta name=\"description\" content=\"Bitcoin's recent rally to near-record highs may be at a crossroads, according to 10X Research. 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