The price of Bitcoin was close to $70,800 and may see further increases, with the daily close above $69,000 being vital for investors. Recent data suggests the price correction may have ended, leading to optimism. The focus has been on the impact of investor interest in the Spot Bitcoin ETF on prices, with strong demand in the ETF sector boosting investor risk appetite. After a week of net outflows due to Genesis sales, the trend has shifted towards net inflows, indicating recovery and significant gains in altcoins. Notably, there have been substantial cumulative net inflows, with the possibility of more inflows expected with the arrival of new ETF data. With a targeted net inflow of half a billion dollars, further price increases in Bitcoin are anticipated following the trend of previous days. The data shows a total net inflow of about $11.5 billion in a short span, suggesting a potential supply shortage by the year's end.

This analysis was originally posted on COINTURK NEWS.