$BTC

Bitcoin’s current market price breaks the 100,000 mark?

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Although Mentougou once caused a false alarm about the transfer of US$9 billion in Bitcoin, it did not cause a substantial impact on the market. Inflows into Bitcoin spot ETFs remain strong. In the past few days, inflows have been stable at around $300 million for three consecutive days. This trend is particularly significant in historical data. This is undoubtedly a positive signal for Bitcoin prices, showing the market’s firm confidence and strong support from capital.

At the same time, the listing of Ethereum spot ETF has also injected new vitality into the market. This move is expected to have a profound impact on the market structure and lead the cryptocurrency market to a more mature and stable stage.

From July 5 to July 18, the Bitcoin spot ETF showed steady inflows every working day. Among them, the inflow in four days was as high as US$300 million, and the buying volume in a single day was huge, which was enough to demonstrate the market's enthusiasm and recognition of the value of Bitcoin. Especially on the two days of July 12 and July 15, the inflow reached US$300 million, almost reaching the peak level.

The inflow of Bitcoin spot ETF shows phased and cyclical characteristics.

The first wave of inflows began in late January and continued into late March, perfectly resonating with the rise in Bitcoin prices.

Subsequently, a second wave of inflows began in early May and lasted until early June, once again energizing the market.

Now, as the third wave of inflows begins, we have reason to believe that Bitcoin prices will continue to rise.

Although the recent Mentougou incident has caused market panic, the inflows of Bitcoin spot ETFs have remained steady, which fully proves the resilience of the market and the attractiveness of Bitcoin. We expect a strong third wave of inflows from now on. Considering that the first two waves of inflows were accompanied by significant increases in Bitcoin prices, we have reason to believe that this wave of inflows will also bring new upward momentum to Bitcoin prices.

In addition, as expectations for a U.S. interest rate cut on September 18 gradually become clearer, and inflation is effectively controlled, this provides a more favorable macroeconomic environment for cryptocurrencies such as Bitcoin. We have reason to expect that, driven by multiple positive factors, the price of Bitcoin will usher in broader room for growth.