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Crypto Market Sees Surge in Bitcoin ETF Inflows and Anticipation for Ethereum ETFs Today, the cryptocurrency market is abuzz with news of record-setting inflows into Bitcoin exchange-traded funds (ETFs). Over the past six days, U.S.-based spot Bitcoin ETFs have accumulated over $1 billion in assets, with Friday alone seeing a remarkable $300 million in net inflows. This brings the total cumulative net inflows to $15.81 billion, surpassing the previous record of $15.69 billion set in June 2024. Leading the charge is BlackRock’s IBIT, which added $120 million on Friday, followed closely by Fidelity's FBTC with $115 million. Other significant contributions came from Grayscale's GBTC, Bitwise's BITB, and Ark Invest's ARKB funds. Despite these inflows, Bitcoin’s price has dropped by approximately 17.5% from its early June high of $71,500 to around $58,900. However, the continued investment into Bitcoin ETFs suggests strong investor confidence in the asset’s future prospects. Meanwhile, the crypto community is eagerly anticipating the launch of spot Ethereum ETFs. Industry experts believe these funds are close to receiving approval from the SEC, potentially as soon as this month. This development could significantly influence market dynamics and investor sentiment. In other news, top DeFi tokens and mid-cap cryptocurrencies are also seeing positive movements, reflecting broader market optimism. As always, the crypto market remains highly dynamic and investors are advised to stay informed of ongoing developments. But $BTC $ETH $BNB
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Bitcoin exchange-traded funds (ETFs) have reached a record level of cumulative net inflows following a six-day streak that began on July 5, 2024. According to SoSoValue data, U.S.-based spot bitcoin ETFs experienced their most successful day since June 5, with net inflows exceeding $300 million on Friday alone. Over this six-day period, these ETFs have added more than $1 billion in assets under management, bringing the total to $15.81 billion. This figure surpasses the previous record of $15.69 billion set on June 7, 2024. The surge in inflows was led by BlackRock's IBIT, the largest spot bitcoin ETF by asset value, which contributed $120 million on Friday. Fidelity's FBTC followed closely with $115 million in inflows, while Grayscale's GBTC, Bitwise's BITB, and Ark Invest's ARKB funds made up the majority of the remaining inflows. Despite the positive inflows, Bitcoin's price has declined approximately 17.5% from about $71,500 in early June to roughly $58,900. However, the consistent inflows suggest investor confidence in the long-term prospects of Bitcoin ETFs. Additionally, the crypto industry is anticipating the potential launch of spot Ethereum ETFs this month, which could further impact the market dynamics.$BTC
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Can the $PEPE Coin Reach $1? Absolutely! There's skepticism about Pepe Coin reaching $1, primarily because of its large circulating supply of 420 billion coins. Achieving a $1 price would necessitate a market cap of $420 billion, which seems daunting. However, consider the case of BNB: in 2017, its price was $0.5 per coin, and within seven years, it surged to over $600 per coin, attaining a market cap of $79.25 billion. This example shows that significant price growth is possible under the right conditions. Pepe Coin operates on a deflationary model where coins are burned with each transaction, reducing the supply and potentially increasing the coin's value over time. Although the system hasn't been recently updated, this mechanism could still play a vital role. Pepe Coin is highly influential and volatile in the cryptocurrency market, achieving substantial gains within a short period. Many investors are unaware of the potential impact of deflationary mechanisms on the coin's value. Engage and Support *Like *Follow *Share or Repost *Comment $BNB $PEPE
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Guys, the next movement in $BTC will reach $60k.
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$BTC $ETH $SOL
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