Recent data shows a significant increase in fund flow into the US Spot Bitcoin ETF, drawing attention from investors and specialists to Bitcoin's price dynamics.
What Happened with Bitcoin ETF
According to Farside Investors data, the fund flow into the US Spot Bitcoin ETF reached $2.32 billion this week. This suggests that institutional investors are again actively investing in Bitcoin. The highest inflow was recorded on September 10, when the total flow hit $741.5 million, thanks to Fidelity's contribution of $299 million.
Bitcoin Price Outlook
Amid increasing fund inflows, the price of Bitcoin currently stands at $116,000, up 5% over the past week. Meanwhile, the trading volume has decreased by 5.5% to $45.8 billion. Analyst Michael van de Poppe warns of a potential short-term correction, but believes that if the price breaks the $117 resistance level, it could reach a new all-time high.
Analysts' Predictions for the Future
Renowned analyst PlanB has made a prediction regarding Bitcoin's price, suggesting it could reach levels between $250,000 and $1 million in the new cycle. He noted that closing below $250,000 in this cycle would signify a failure for the Stock-to-Flow model. This raises high expectations among investors given the current trends.
Thus, the active increase in fund flow into the Bitcoin ETF could significantly impact the Bitcoin market. Analysts' forecasts create interest and expectations for future price growth in the leading cryptocurrency.
