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๐ŸŽ‰๐Ÿš€ Bitcoin and Ethereum are making waves, folks! Analyst Lark Davis has made some bold predictions for these top assets. He believes Bitcoin will skyrocket to $150,000 and Ethereum will reach $15,000, all thanks to market dynamics. ๐Ÿ“ˆ๐Ÿ’ฐ Spot Bitcoin ETFs are already attracting hundreds of millions of dollars daily, and Ethereum ETFs are just about to start trading. Davis predicts a bullish scenario where a peak bull market coincides with massive investments from countries, wealth managers, pension funds, and retail investors, resulting in billions of dollars being funneled into ETFs daily. ๐ŸŒ๐Ÿ’ผ๐Ÿฆ As of May 24th, all spot Bitcoin ETFs hold around 1,002,343 BTC, with a significant proportion allocated to US-based products. This shows growing mainstream acceptance and institutional interest in cryptocurrencies, especially in the US. ๐Ÿ‡บ๐Ÿ‡ธ๐ŸŽฏ The fact that spot Bitcoin ETFs collectively hold over a million BTC implies increased demand for the asset. As these ETFs acquire and hold Bitcoin, it reduces the available supply in circulation. With the cryptocurrencyโ€™s supply fixed and diminishing due to factors such as halving events, increased institutional interest and investment through ETFs could intensify scarcity, potentially driving up demand and prices further. ๐Ÿ“Š๐Ÿ”ฅ Meanwhile, Ethereumโ€™s price failed to challenge the $4,000 resistance, but promising signs are emerging that could cause a much-needed spike. Keep your eyes on the prize, crypto enthusiasts! ๐Ÿš€๐ŸŒ•

๐ŸŽ‰๐Ÿš€ Bitcoin and Ethereum are making waves, folks! Analyst Lark Davis has made some bold predictions for these top assets. He believes Bitcoin will skyrocket to $150,000 and Ethereum will reach $15,000, all thanks to market dynamics. ๐Ÿ“ˆ๐Ÿ’ฐ

Spot Bitcoin ETFs are already attracting hundreds of millions of dollars daily, and Ethereum ETFs are just about to start trading. Davis predicts a bullish scenario where a peak bull market coincides with massive investments from countries, wealth managers, pension funds, and retail investors, resulting in billions of dollars being funneled into ETFs daily. ๐ŸŒ๐Ÿ’ผ๐Ÿฆ

As of May 24th, all spot Bitcoin ETFs hold around 1,002,343 BTC, with a significant proportion allocated to US-based products. This shows growing mainstream acceptance and institutional interest in cryptocurrencies, especially in the US. ๐Ÿ‡บ๐Ÿ‡ธ๐ŸŽฏ

The fact that spot Bitcoin ETFs collectively hold over a million BTC implies increased demand for the asset. As these ETFs acquire and hold Bitcoin, it reduces the available supply in circulation. With the cryptocurrencyโ€™s supply fixed and diminishing due to factors such as halving events, increased institutional interest and investment through ETFs could intensify scarcity, potentially driving up demand and prices further. ๐Ÿ“Š๐Ÿ”ฅ

Meanwhile, Ethereumโ€™s price failed to challenge the $4,000 resistance, but promising signs are emerging that could cause a much-needed spike. Keep your eyes on the prize, crypto enthusiasts! ๐Ÿš€๐ŸŒ•

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๐Ÿš€๐Ÿš€๐Ÿš€ Bitcoin enthusiasts, buckle up! Long-term Bitcoin holders (holding for 1-2 years) have been observed to sell portions of their holdings during bullish phases when BTC's price is on the rise. But wait, there's more! ๐ŸŽ‰ Those with Bitcoin UTXOs (unspent transaction outputs) older than 3 years are still accumulating more BTC, showing a strong bullish sentiment. So, it's not all sell, sell, sell! ๐Ÿ’ช๐Ÿ’ช CryptoQuant's latest findings reveal that over 50% of BTC's total supply has been inactive on the blockchain for over a year. This suggests that long-term holders are confident about Bitcoin's future value despite price fluctuations. ๐Ÿ“ˆ๐Ÿ“ˆ As BTC's price recovered to $56,000, the 1-year and 2-year holder cohorts transitioned from a selling phase to a holding one, signaling renewed confidence in Bitcoin's upside potential. The technical outlook is at a critical juncture, testing significant support levels. But long-term holders' behavior suggests an underlying bullish sentiment. ๐Ÿš€๐Ÿš€ Glassnode also noted that a group of long-term Bitcoin holders, who had been selling portions of their holdings since December 2023, have started re-accumulating or buying BTC again. This could mean significant volatility may be needed to trigger another wave of sell-offs from these long-term holders. ๐Ÿ˜Ž๐Ÿ˜Ž CryptoQuant warns that a break below the daily Ichimoku cloud could shift market sentiment bearish, potentially leading to a retracement towards $64,000. But don't fret! IntoTheBlock estimates that the next market peak could occur between October 2024 and March 2025. So, hold on to your hats, Bitcoin believers! ๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰
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