Bitcoin ETFs: Draw $411M After $75K Peak
Bitcoin ETFs pulled in $411 million as BTC hit $75,000, yet analysts warn of caution amid volatile crypto market trends and BTC price predictions.
SourceSpot Bitcoin ETFs raked in a hefty $411 million in net inflows yesterday, riding the wave after BTC surged to $75,000—its highest mark in weeks—but top analysts are pumping the brakes, citing overextended rallies and potential pullbacks in the crypto market crash scenarios we've seen before.
Zooming into the 4-hour chart, BTC trades at $73,978, firmly above the EMA50 at $72,078 which acts as immediate support, while the EMA200 at $70,077 reinforces the longer-term bullish structure. MACD screams bullish with a golden cross at 720, but RSI at 58 sits neutral, hinting at room for upside before overbought territory. Price hugs the upper Bollinger band near $76,171 resistance, suggesting volatility could exhaust here—expect a test of that ceiling, but confluence points to a dip toward the lower band at $69,583 if sellers step in, mirroring patterns from last quarter's BTC price prediction plays. This setup screams opportunity for institutional desks eyeing entries amid the HYPE around Bitcoin and emerging tokens like TAO, but don't chase without stops—macro winds could shift fast in this AI industry impact-fueled cycle.
Decrypt
@DecryptMediaDelivers cutting-edge news and educational content on cryptocurrency, decentralized finance, and Web3 innovations for a global audience of blockchain enthusiasts.