Bitcoin Price Prediction As BTC ETF Inflows Surpass $18B, and This Could Be the Next Cryptocurrency to Explode
The Bitcoin price dropped 2% in the last 24 hours to trade at $62.7k as of 4.45 a.m. EST on trading volume that surged 43% to $28.08 billion. Despite the current price drop, however, Bitcoin has seen some positive developments recently, especially when it comes to Bitcoin spot ETFs. According to reports, spot Bitcoin exchange-traded funds in the US have seen increased investor confidence, as the cumulative net inflows hit a new ATH. Farside Investors’ data shows that Bitcoin ETFs saw a net inflow of $202.6 million yesterday, August 26. This puts the total net inflows in this investment product above the $18 billion mark. Commenting on the situation, Bitget Wallet’s COO, Alvin Kan, speculated that the investors are likely turning to more stable assets, and the surge in Bitcoin spot ETF investments reflects their growing confidence in BTC. As for Bitcoin itself, the coin saw a major price surge on August 23, which allowed it to breach the resistance at $61k and climb up to ...