Institutional investors are once again bidding heavily on Bitcoin (BTC) ETFs, which are seeing record net inflows. Meanwhile, Shiba Inu (SHIB) making strides, as both are seeing renewed buyer interest.
While Bitcoin Rebounds, Smart Money Takes Action
Bitcoin is back above $97k once again, as it saw a 2.7% intraday increase. However, buying pressure has been slowing down, as reflected by the 32% drop in volume, with roughly $47.4 billion worth of BTC traded across exchanges in the last 24 hours.
On the other hand, large investors have taken advantage of the dip to bolster their Bitcoin ETF positions. ETF issuers like BlackRock and Fidelity have recorded a record $6.2 billion in net inflows, topping the $6 billion February record, which was reached amid the Bitcoin ETF launch euphoria.
Meanwhile, crypto analyst Volker has pointed outthat the Bitcoin sell wall is slowly but surely scaling down. This accumulation of sell orders has barred Bitcoin from reaching $100,000. However, it will likely take another full-fledged battle between bulls and bears to see it crumble.
While seeing Bitcoin at $100,000 feels like a guarantee at this point, many are shifting their attention to projects that could yield greater returns in 2025. Shiba Inu still has a lot of room for growth, but Cutoshi could ultimately steal the show with its unique DeFi ecosystem.
Shiba Inu Soars Above Resistance, What’s Next?
After spending the majority of the past two weeks ranging around the $0.000024 level with minor deviations, Shiba Inu (SHIB) has reclaimed the crucial $0.000026 level with a 4% daily increase.
On X, analyst Master Kenobi has shared a detailed outlook on Shiba Inu’s current price performance. He draws attention to Shiba Inu’s price structure over the years and how it relates to the current chart formation. Kenobi believes that once Shiba Inu breaks out, it could rise to $100 billion in market cap at the peak of the bull run in 2025.
Additionally, Shiba Inu’s burn mechanism, Shibburn, is firing on all cylinders. In the last day alone over 1 billion SHIB tokens were removed from circulation, with a 2,050% increase in the burn rate.