Bitcoin’s Rise to $52K Is Driven by Strong U.S. Demand, the Coinbase Price Premium Suggests
Massive inflows into spot bitcoin ETFs made headlines recently, but other metrics showcase U.S. investors’ appetite for the asset.
Massive inflows into spot bitcoin ETFs made headlines recently, but other metrics showcase U.S. investors’ appetite for the asset.
The ether-bitcoin forward term structure is downward sloping structure, which means that traders expect ETH to perform weaker than BTC as time goes by, one trader said.
While bitcoin ETFs have experienced net inflows of $820 million, bitcoin whales increased holdings by about $3 billion this year, IntoTheBlock said.
Mining stocks represent an attractive opportunity for investors looking to gain access to the long-term bitcoin adoption trade, the analysts wrote.
ETFs offer better investor protection, increased liquidity and lower tracking error than close-ended funds and trusts, the report said.
Puts are overbought and calls [are] being sold, Deribit’s CCO Luuk Strijers told CoinDesk, noting the decline in the bitcoin implied volatility index.
Bitcoin futures’ open interest on the Chicago Mercantile Exchange surged to an all-time high Tuesday as institutions piled into the asset, speculating on a spot bitcoin ETF approval.
Ether has lost 43% of its value against bitcoin since Sept. 7.
The wallet receiving the hefty payout is the address that mined the Bitcoin network’s first-ever block reward some 15 years ago, commencing the start of the blockchain.
Reports swirled Thursday that the SEC was giving final comments to issuers and may approve multiple spot-based bitcoin ETF applications very soon.