Bitcoin (BTC) $62,877 After stalling above $63,000, it fell back to the $62,500 range at the time of writing. Altcoins continues the day in red, albeit with low losses. So what is the latest situation in the ETF channel? What do expert analysts’ current chart comments for Bitcoin and altcoins indicate before October?
BTC and ETF Inflows
With the last minute announcement on Friday, we saw the SEC allow spot Bitcoin ETF options specifically for BlackRock. Options with specific price options for specific importance mean more liquidity, and therefore volatility. On the other hand, BNY Mellon received an SEC exemption that allows it to provide crypto custody services, and more banks are expected to enter crypto.
The latest situation in the ETF channel is not that bad. Investors familiar with the stock markets continue to demand Spot Bitcoin ETFs. Lark Davis shared the following Farside chart in his latest market assessment, showing that this week it is 6,574 BTC He noted that the demand in the ETF channel exceeded the weekly miner production level of 2,250 BTC.
“The new supply that miners would produce in 14 days was collected in the ETF channel in just 5 trading days.”
In the last week, dollar-based inflows climbed to the $400 million level.
Bitcoin (BTC) and Altcoins
In this title, we will discuss today’s charts of three different analysts, and Crypto Tony is first in line. The analyst, who writes that he expects a significant decline next year, mentions that the BTC price could rise to the $ 110,000 limit before that.
Crypto Rover wrote that the total money supply has now reached the point that will trigger a breakout for BTC. The expert, who shared the M2 money supply and BTC chart together, expects a breakout above $ 68,000.
The last analyst, Moustache, said:
“Altcoin/TOTAL2 (monthly) Bullish crossover is imminent. As often said: This is one of the most important signals. The last time this happened was in 2020, and then the Altcoin bull market began.”
If historical data proves it right, this is a big move for 2024 and 2025. altcoin It means a rally. In the last quarter of 2024, which started in October, a significant number of analysts are talking about a comprehensive bullish period for cryptocurrencies.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
