So, here we are on a Saturday, and Bitcoin is just hanging out above $105,000. You know, like that friend who shows up to the party but doesn’t really do much. Investors decided to buy the dip on Friday, which is great, but let’s be honest, it’s like buying a used car that’s already been in three accidents. 🚗💥
Bitcoin (BTC) managed to climb to $105,300, which is a 2.4% increase from its lowest point on Friday. Wow, 2.4%! That’s like finding a quarter in your couch cushions. And it’s 5% above this month’s lowest point. Whoop-de-doo! 🎉
Now, according to SoSoValue data, spot Bitcoin ETFs saw inflows of $301 million on Friday. That’s right, even as Bitcoin was flirting with the $100,000 mark. This brings total weekly ETF inflows to $1.3 billion. Last week? A measly $128 million in outflows. Talk about a comeback! It’s like the underdog story nobody asked for. 🐶
BlackRock’s iShares Bitcoin ETF, ticker symbol IBIT (because why not?), had daily inflows of $238 million on Friday. Cumulative figure? A staggering $49.7 billion. It’s now got $70 billion in assets, making it the fastest-growing ETF in finance. Fastest-growing? More like fastest to the buffet table! 🍽️
And let’s not forget the SPDR Gold Trust, which has been around since 2004 and has racked up $103 billion in assets. So, IBIT might just flip the biggest gold ETF in the next few months or maybe in 2026. Who knows? It’s like waiting for a sequel to a movie that was never that good in the first place. 🎬
Fidelity’s FBTC ETF has seen over $11 billion in inflows, while Bitwise’s BITB has managed a paltry $2 billion since inception. It’s like comparing a blockbuster to a straight-to-DVD release. 📀
Why did Wall Street investors buy Bitcoin’s dip? Well, apparently, it has strong fundamentals. BlackRock’s data shows that Bitcoin tends to outperform the stock market after major geopolitical events. So, if there’s chaos, Bitcoin’s like, “Hey, I’m here for you!” 🙌
Bitcoin’s supply on exchanges has dropped from 1.5 million in January to 1.1 million today. Less supply? That’s like having fewer cookies in the jar. You know what that means—higher prices! 🍪💸
Bitcoin price long-term chart points to a multi-year breakout
The monthly chart is showing a strong Bitcoin price breakout in the near term. It’s like watching a soap opera—full of drama! This chart indicates Bitcoin formed a rounded bottom between Dec. 17 and March 2021. And since November 2021, it’s been forming another rounded bottom. Sounds familiar, right? Like a bad relationship! 💔
The price is still slightly below the ascending trendline connecting the upper side of these rounded bottoms. So, it might just be ready to break out of an eight-year trendline. Ark Invest thinks Bitcoin could soar to $2.4 million by 2030. Meanwhile, Michael Saylor is predicting a mid-term forecast of $1 million. It’s like a game of “who can throw the wildest number?” 🎯
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2025-06-14 20:25