Bitcoin ETF Inflows Soar as BlackRock's IBIT Dominates More Than 50% of the Market
Institutional Adoption of Bitcoin: Bitcoin ETF inflows, particularly from BlackRock’s IBIT fund, are significantly reshaping the cryptocurrency market, with IBIT controlling over half of the U.S. spot Bitcoin ETF market and 3.84% of Bitcoin's circulating supply.
Market Sentiment and Price Projections: With daily inflows nearing $200 million and a bullish call-to-put ratio, Bitcoin is currently trading around $116,228, with analysts suggesting that it may soon reach the $120,000 mark due to strong institutional demand.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36010.729 | 48005.365 | 60280.749 | 72275.385 | 84550.769 | 96545.405 | 108820.789 |
| Fibonacci | 48005.365 | 57276.512 | 63004.237 | 72275.385 | 81546.532 | 87274.257 | 96545.405 |
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