Bitcoin’s brush with all-time high still hasn’t woken up retail investors

October 30, 2024 Coin Telegraph

Despite its recent price rally, search interest for “Bitcoin” on Google is still generating only a fraction of the traffic that “AI” has over the last week.

Bitcoin is nearing an all-time high, yet analysts say retail investors are showing no more interest than usual.

“Bitcoin is on the verge of breaking all-time highs, and retail interest is still almost non-existent,” crypto analyst Miles Deutscher said in an Oct. 29 post on X.

Bitcoin (BTC) came within spitting distance of notching a new all-time high on Oct. 29, briefly touching $73,562, but has since cooled off to a price of $72,300 at the time of publication, per CoinGecko data.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Crypto exchange volumes reflect Bitcoin traders’ ‘reduced trading appetite’ — Glassnode

September 11, 2024 Coin Telegraph

Bitcoin

Glassnode data highlights a “notable decline in trade activity over the last quarter,” but traders are hopeful that Q4 will bring a sharp trend reversal.

Bitcoin (BTC) continued its recovery on Sept. 10, reaching $58,000 to trade 8% above its four-week low of $53,955. Despite this recovery, Bitcoin investors “remain unconvinced” in the short term, according to an analysis from Glassnode.

Investors are interacting less with centralized exchanges (CEXs) with “contracting volumes across the board,” according to a Sept. 10 report published by Glassnode.

The report noted that CEXs remain central indicators of investors’ speculative activity and price discovery in the ever-evolving cryptocurrency market. They evaluated onchain volumes aggregated across CEXs to determine investor activity and speculation appetite.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Advisor holdings in Bitcoin ETFs rise, hedge fund stakes dip — Coinbase

August 17, 2024 Coin Telegraph

Coin Telegraph

Investment advisors are expanding their spot Bitcoin ETF holdings, but Coinbase warns that "large inflows" might not be seen immediately due to the slow summer period in the United States.

Investment advisors have ramped up their stakes in spot Bitcoin exchange-traded funds (ETFs) during the second quarter of 2024, while hedge fund holdings have seen a slight decline, according to cryptocurrency exchange Coinbase.

It is likely that the rate of investment advisors holding spot Bitcoin (BTC) ETFs is only going to increase further as “more brokerage houses complete their due diligence on these funds,” according to an Aug. 16 report published by Coinbase.

The proportion of institutional holders labeled as “investment advisors” rose 3% during the second quarter of 2024, now accounting for 9% of total institutional investment. The exchange pointed out that this is just based on firms managing more than $100 million in assets which are required to file the US Securities an Exchange Commission's (SECs) 13-F form.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

The Bitcoin bottom is not in — BTC traders set price targets in low $40K range

August 5, 2024 Coin Telegraph

Bitcoin

Crypto traders appear to agree that today’s market rout is far from over.

Bitcoin (BTC) tumbled below $50,000 during the early Asian trading hours on Aug. 5 as risk-off sentiment gripped global markets. Bitcoin is down nearly 31% over the last three days in a “once in a 7-10 yr event” that has left analysts with mixed opinions on whether BTC will recover in the short term.

Bitcoin’s drop below $50,000 has seen more than $500 billion wiped out of the crypto market in just 24 hours, accompanied by the liquidation of many leverage positions.

According to data from Coinglass, approximately $1.08 billion worth of leverage positions have been liquidated across derivatives markets, with long liquidations accounting for 74% of these, at $803.76 million.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Spot Bitcoin ETFs see highest flow day in over 5 weeks

July 13, 2024 Coin Telegraph

Bitwise

The $310 million in inflows were led by the BlackRock and Fidelity Bitcoin ETFs, while Grayscale recorded a rare inflow day at $23 million.

United States-based spot Bitcoin exchange-traded funds recorded over $310 million in inflows on July 12 — marking its best-performing day since June 5.

BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) saw most of the flows at $120 million and $115.1 million, respectively, Farside Investors data shows.

The Bitwise Bitcoin ETF came in third at $28.4 million, while the Grayscale Bitcoin Trust (GBTC) recorded another rare inflow day at $23 million.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Bitcoin’s price won’t ‘dramatically’ increase from here, says billionaire

June 29, 2024 Coin Telegraph

Coin Telegraph

Peter Thiel also believes that Bitcoin’s original vision as a cypherpunk, crypto-anarchist, freedom tool hasn’t been fulfilled.

Former PayPal CEO Peter Thiel has raised doubts that Bitcoin’s (BTC) future price can increase “dramatically” from current price levels.

The billionaire — who still owns “some” Bitcoin but not as much as he “should have” — isn’t sure where the next batch of buyers will come from now that Bitcoin has had its “ETF edition.”

“I'm not sure it's going to go up that dramatically from here. We got the ETF edition and I don't know who else buys it,” Thiel, a founder at the Founders Fund told CNBC on June 28.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Bitcoin will protect the wealth that AI creates: Pompliano

June 25, 2024 Coin Telegraph

AI Machines

AI machines will need to use and store their wealth somewhere, and Bitcoin is the logical choice for that, Anthony Pompliano says.

Bitcoin (BTC) will be the preferred asset to secure wealth created from AI over the next decade, says Bitcoin bull and venture capitalist Anthony Pompliano.

“We are going into this automated world where AI is going to create enormous amounts of wealth, and Bitcoin is going to protect that wealth,” the Pomp Investments founder explained to CNBC in a June 24 interview.

Pompliano dismissed the idea that AI has come in and replaced Bitcoin and the broader cryptocurrency industry as the new hot tech trend, explaining that the two technologies will instead work in tandem over the next 10-years.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Bears rekt: Bitcoin ETFs see runner-up record day with $887M inflows

June 5, 2024 Coin Telegraph

Bears rekt: Bitcoin ETFs see runner-up record day with 7M inflows

Bitcoin ETF Flows

Fidelity’s Bitcoin fund led the pack with $378.7 million in net inflows on the U.S. spot Bitcoin ETFs second-highest joint net inflow day, according to preliminary data.

United States-based spot Bitcoin exchange-traded funds (ETFs) saw their second-best-ever joint net inflow day of $886.6 million, according to preliminary data.

The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the largest inflow at $378.7 million, while BlackRock’s iShares Bitcoin Trust (IBIT) was second with $274.4 million, according to early data from Farside Investors.

The ARK 21Shares Bitcoin ETF (ARKB) was the third-best performer with $138.7 million in net inflows, Farside data shows.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

BlackRock’s Bitcoin ETF hits 6-week inflow high amid early-week BTC rally

May 22, 2024 Coin Telegraph

blackrock

BlackRock’s IBIT recorded $290 million of inflows on Tuesday, May 21 — more than the fund has seen in the past 21 trading days combined.

BlackRock’s spot Bitcoin exchange-traded fund (ETF) made up 95% of the total inflows into United States spot Bitcoin ETFs on Tuesday, May 21, which together raked in over $300 million in net inflows.

According to preliminary data from Farside Investors, BlackRock’s iShares Bitcoin Trust (IBIT) posted large inflows of $290 million on May 21. The net inflow for all eleven ETF issuers combined was $305.7 million.

This is the highest inflow to BlackRock’s ETF since April 5, reversing a trend of zero or very low inflows for the past six weeks or so.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Bitwise CIO says BTC ETFs are huge success and 13F filings make him ‘incredibly bullish’

May 16, 2024 Coin Telegraph

Bitcoin

Bitwise CIO Matt Hougan says this week's 13F filings prove that the spot Bitcoin ETFs were a “huge success.”

This week’s 13F filing revealed who is buying the spot Bitcoin ETFs and what their position size is, and while Bitwise Chief Investment Office Matt Hougan celebrated the success of the ETFs, he says there is a significant point that the media might miss that makes him even more bullish on the BTC ETFs.

Hougan said that 563 professional investment firms have reported owning a combined $3.5 billion worth of Bitcoin ETFs. Hougan anticipates that these numbers could eventually surpass 700 firms with total assets under management nearing $5 billion.

Hougan’s guess was spot on, with the latest data from K33 Research revealing that more than 900 firms disclosed their spot Bitcoin ETF holdings.

spot bitcoin etf