Crypto Rover analyzed the impact of 11 new Bitcoin ETFs on the BTC price
In a new video, YouTuber Crypto Rover shared his thoughts on the impact of 11 recently adopted Bitcoin spot ETFs on the price of the major cryptocurrency. Citing information from Bloomberg, he spoke of a colossal influx of $4 billion on the first day of trading.
Indeed, on January 11, the price of Bitcoin almost tested the $49,000 level, then it rolled back to the beginning of the $46,000 range and from this point resumed its recovery to $46,600.
According to Rover, even an injection of 1% of the trillion-dollar institutional capital controlled by the funds will lead to a significant increase in prices.
Having delved into technical analysis, the YouTuber came to the conclusion that the price of Bitcoin is growing exponentially, and, in his opinion, upward momentum should be observed throughout 2024.
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