- BTC posted inflows of $555.86 during the Monday trading day, which is a multi-month high.Traders are becoming increasingly optimistic that BTC will challenge its all-time high by the end of the year.
Over the past few months, this ETF has seen its highest inflow of funds since June 4th, where it recorded a massive intake of approximately $886.75 million.
As an analyst, I’m observing a 2.2% increase in Bitcoin over the past 24 hours, as per the data from CoinDesk Indices. This growth aligns with the CoinDesk 20, an index that monitors the performance of the most significant digital assets.
https://www.coindesk.com/embedded-chart/TrLhfBRJKCzDd
According to a previous report by CoinDesk, a technical analysis tool known as the “three-line break chart” suggests that Bitcoin might surge beyond $73,000, indicating a potential resumption of its uptrend following several months of fluctuating prices.
In the past week, traders on prediction markets have grown more positive about Bitcoin’s price prospects. On Polymarket, the probability that Bitcoin will reach a fresh record high by 2024, as suggested by a specific contract, has increased from 55% to 64%. This represents an uptick of 9 percentage points within the last seven days.
https://embed.polymarket.com/market.html
On the platform Kalshi, traders estimate a 46% likelihood that Bitcoin‘s value will reach $75,000 by the end of this year, marking a 7 percentage point increase. Notably, Bitcoin previously reached an unprecedented high above $71,000 in March.
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2024-10-15 10:02