Bitcoin While investors were worried about the decline that went below $61,000. It rose above $67,000 again after the FED meeting.
While analysts are divided into two regarding BTC’s movements, A positive report came from QCP Capital analysts.
Analysts noted that reduced inflows into spot Bitcoin ETFs and yesterday’s largest single-day outflows ever recorded could have a negative impact on the price. However, analysts also state that these outflows may be a position adjustment before the FOMC. He said that bullish expectations have not changed.
” BTC spot ETF inflows peaked at $1,045 million on March 12. However, since then, net inflows have decreased and spot prices have also fallen.
Yesterday we saw a net outflow of $326.2 million, the largest single-day outflow to date. BTC reacted suddenly to these outflows, falling to the lowest level of 60,770.
Despite the negative picture of the last few days, analysts said that their opinion is that the bull market is not over and new peaks will come after the halving.
Analysts on this subject “Our view is that the bull market is not over yet. We are in the midst of a broad liquidity rotation that will take Bitcoin to new post-halving highs. “But given the amount of leverage remaining, the short-term correction could be severe.” said.
*This is not investment advice.
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