Bitcoin's price shows stability above the $105,000 mark following increased investor interest. This article examines current market indicators and ETF inflow data.
Current Bitcoin Market
Currently, Bitcoin's price is set at $105,300, which is 2.4% higher than its lowest point reached on Friday. This is also 5% above this month's lowest level.
Inflows into Bitcoin ETFs
According to SoSoValue data, there was an inflow of $301 million into Bitcoin ETFs on Friday, bringing the total weekly inflow to $1.3 billion, a significant increase compared to last week's outflow of $128 million. BlackRock's iShares Bitcoin ETF recorded daily inflows of $238 million and reached a cumulative amount of $49.7 billion.
Long-term Bitcoin Outlook
Current market conditions and declining Bitcoin supplies on exchanges raise questions about the future prices of the cryptocurrency. Data indicates that the number of Bitcoins on exchanges has dropped from 1.5 million in January to 1.1 million today. Long-term analysis suggests the potential for breaking out of an eight-year trendline, which could significantly increase Bitcoin's value in the future.
Bitcoin's price remains stable, and the growing interest from investors, alongside the increase in ETF inflows, underscores the potential long-term prospects of this asset.
