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$BTC
Open Interest Reaches Record High of $19.2B
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๐๐ค $BTC Unlike earlier in the year, the amount of Bitcoin available on so-called over-the-counter (OTC) desks is large enough to form a buying venue for the #ETF's . This, onchain analytics platform, CryptoQuant said, allows large purchases that do not impact the spot price. Currently, total daily Bitcoin purchases from ETFs represent between 1% and 2% of the total Bitcoin balance on OTC desks. This contrasts with a share of 9%โ12% of total OTC balances in Q1 2024.
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๐ฎ $BTC Price Prediction From Public Figures: #MichaelSaylor's prediction of $13 million per Bitcoin by 2045 might seem ambitious. However, BTC would need to grow by approximately 28% each year to reach this target. In comparison, #CathieWood 's target of $1 million, it requires 55% annual growth.
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๐บ๐ธ๐ $BTC - #ETF's just recorded inflows topping $520 millionโthe highest since their launch!
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๐ Roughly 8,000 $BTC have been withdrawn from crypto exchanges in the last 48 hours, worth around $576 million
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