📣WHY GREEN 🟢 IS TAKING OVER TODAY📣
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Bitcoin inflows surge.. and the reason is buying the dip
$BTC 🟢
THE QUEEN 👸
Spot Bitcoin ETF inflows rose sharply after the Fourth of July holiday, making up for the declines seen earlier in the week.
This rebound coincides with Bitcoin’s price falling below $54,000 on Independence Day.
An opportunity to buy the dip Bitcoin ETFs saw significant inflows despite the panic selling in the market, indicating that strong hands and big players were taking advantage of the dips.
Although the Grayscale Bitcoin ETF (GBTC) recorded outflows of $28 million, other funds compensated with strong inflows.
The Fidelity Bitcoin ETF (FBTC) saw inflows of $117 million, making it the leader in overall inflows on Friday.
The Bitwise Bitcoin ETF (BITB) came in second with inflows of $30 million.
Bitwise Asset Management CEO Hunter Horsley said that his team at Bitwise was able to buy Bitcoin efficiently at a cost of less than half a basis point.
During the first week of July, the BITB fund recorded inflows of over $66 million, bringing its
total Bitcoin holdings to over 38,000 Bitcoin.
Horsley also reiterated the strong bullish outlook for Bitcoin, noting that the current market decline provides a strong buying opportunity for new and existing investors.
He explained that the outlook for Bitcoin has never been stronger, noting that this week is an opportunity for those who have not yet been exposed to Bitcoin to buy the dip.
Critics’ Views Noted Bitcoin critic Peter Schiff spoke about the current state of Bitcoin ETF investors, noting that despite the ongoing market turmoil, these investors remain steadfast in their positions.
Schiff explained that the trading activity indicates that Bitcoin ETF buyers are still holding onto their assets, with no signs of panic yet.
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THE DRAGON 🐉
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THE LION 🦁
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THE HIDDEN ONE
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THE NEW GUY
