🚀 BITCOIN BETS ON $70K BRAND 🚀

Bitcoin traders are setting their sights on a short-term price target of $ 70,000 after BTC rose above $ 66,000 during the Asian trading session on July 17, 2024. Although the price later retreated to $ 65,000 during the European morning, continues to rise 2.2%. during the last 24 hours.

📈 Market optimism is increasing 📈

Lucy Hu, senior analyst at Metalpha, shared with CoinDesk: “Bitcoin’s price rally shows that the market has a more optimistic outlook on the near-term macroeconomic environment.” The cryptocurrency market received a significant boost with the announcement of Donald Trump's election as Vice President, suggesting a potentially more cryptocurrency-friendly administration and policies. Additionally, there is less concern about long-term selling pressure, as Mt. Gox's payments to creditors have already begun.

💰 Bitcoin ETFs See Record Inflows 💰

Bitcoin exchange-traded funds (ETFs) continued their seven-day winning streak on Tuesday, with a massive inflow of $422.5 million, marking the largest single-day inflow since June 5. The majority of these funds, more than $260 million, went to BlackRock. IBIT. Over the past three days, ETFs have collectively attracted more than $1 billion, highlighting growing confidence in Bitcoin's price potential.

ETF Entry Highlights:

Total admissions on Tuesday: $422.5 million

BlackRock IBIT: more than $260 million

Total entries in three days: more than $1 billion

This increase in ETF inflows coincided with a 20% increase in BTC, reflecting a broader shift in market sentiment.

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