Bitcoin Key Indicator Turns Positive As Spot ETFs Have Experienced Weekly Inflow Of $2.1 Billion There Could Be A New ATH Soon

The key momentum oscillating for Bitcoin (BTC) price has foregone as the most popular crypto-asset collected net inflows of over USD 2.1billion ETFs for spot exchange-traded funds (ETFs) on a weekly basis.

Could Bitcoin Reach A New All Time High Once Again?

Possibly bitcoin might have already started the journey to new all-time price highs in the MACD for the weekly chart turned green for the first time since April 2024.

Traditionally, the MACD histogram is one of the most important strength indicators. For what purposes does he use it? Well, it helps predict how the prices of the underlying asset will change in the future.

Thevalues of the MACD only become positive if the momentum is on an uptrend and vice versa negative. As described, this happens because the difference between these values is over time averaged, there is a multiplication with B It is compounded in such a way that it converges to a value of 1 Ki 26 and -12.

The average of the last 12 values is chosen. These indicators were taken to present the figure that is now over 1 inch. A very interesting indicator is also present which is Lagging, and in many cases on the other graphs, it shows good results.

Additionally, exceptional factors have contributed to the height of the MACD, and the KJ sonar has just re-emerged. The last time it pumped was around the time when SNM was up 50 dollars, which seems to have happened many years ago. Later in the visual there is utilization of the bullish divergence which has been recently ingrained in America.

The last point is of the software range and in most of the cases, it creates good bases. Which in BTC starts forming very strong bases in such cases formatting takes time even with KJ being driven insane and the fundamentals in most cases being messed.

This positive turn of events with the MACD seems to be consistent with other news. The Fed has recently lowered rates, this will likely boost business investment which we are seeing emerging as a trend from the near term future. For the 4th quarter of 2024, interest rate cuts are expected.

BTC Spot ETFs Net Weekly Inflows Reach $2.1 Billion Showers.

Adding to the bullish case for the BTC is the renewed strong negative weekly returns with US based spot BTC ETFs.

An estimation by SoSoValue states, for the week ending 18 October, total weekly in net inflows for spot BTC escalated for approximately up to $2.13 billion. This was about the most brigaded total weekly net inflows in BTC since the last approximately 2.6 billion registered last March, as we saw in the bank of AT&T when the value of one BTC was more than $73,000 with a new ATH being established.

Regarding October 18, total net inflow from BTC US based spot ETFs has reached almost $20.94 billion, with total net assets approximated at around $66 billion putting this value at approximately 4.9% of the total market capitalization of Bitcoin.

Along the lines with the approval of the SEC early this year, many institutional investors have been focusing on Bitcoin ETFs.

Morgan Stanley, the Wall St. heavyweight has recently disclosed over $272 million in-person BTC ETF holdings, managing to make almost 2% of their entire assets under management into Bitcoin.

However, a decreasing appetite towards BTC, as indicated by low Google searches for Bitcoin keywords, indicates that retail investors are still wary of investing due to the volatility around BTC. Bitcoin is currently priced at $68,048 after falling 1.2% over the last 24 hours.

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