Bitcoin ETFs have seen a substantial influx of $556 million across 11 funds on October 14, 2024, leading to a 4.6% rebound in Bitcoin’s price. This is the largest inflow since June 2024, highlighting a growing interest and acceptance in the cryptocurrency market.
However, some analysts are cautious about this upward trend. Crypto Patel noted that Bitcoin has entered a Bearish Order Block around $66,000, which may indicate a potential decline. He warned that if Bitcoin cannot maintain levels above $66,250, it could retest support levels between $63,200 and $62,500.
Traders should keep an eye on these critical levels, as holding above $66,250 could strengthen bullish sentiment, while a drop to lower support might suggest further bearish movements. Currently, Bitcoin is trading at around $65,423.62, reflecting a slight increase over the past week.
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