经过连续几天的亏损，美国现货比特币ETF周五净流入现金逾3.48亿美元。贝莱德旗下IBIT周五的现金流入最高，约为1.407亿美元，其次是富达旗下FBTC，约为1.17亿美元。WeChat Official Account: Crypto AY
On Saturday morning in Europe on October 12th, the total market value of cryptos surged by 2% in the past 24 hours, reaching around 2.28 trillion US dollars. In the middle cap on Friday in New York, after the price of bitcoin (BTC) surged to a range high point of around $63,361, the altcoin industry experienced a subconscious reaction.
In the past 24 hours, the significant rebound of cryptocurrencies has not resulted in a large number of liquidations. In addition, after Bitcoin's price fell below $59,000 for the first time in three weeks, more cryptocurrency traders are expecting increased weekend volatility.
The main forces behind the current surge in cryptocurrencies
Whale demand resurges once again
After several days of losses, the US spot Bitcoin ETF saw a net inflow of over $0.348 billion on Friday. BlackRock's IBIT had the highest cash inflow on Friday, around $0.1407 billion, followed by FBTC under Fidelity, around $0.117 billion.
Meanwhile, the spot ether ETF issuer recorded a net cash inflow of around $2 million on Friday. As a result, the net supply of bitcoin on crypto exchanges decreased by about 10,000 coins in the past week, while the supply of ether decreased by about 24,600 coins in the past 24 hours.
Tends towards the technical aspect.
According to the well-known crypto analyst Benjamin Cowen, bitcoin's price has reclaimed key levels after a recent rebound.ResistanceFrom a technical perspective, the price of bitcoin has formed a fractal pattern similar to the breakout in the bull market in the second half of last year.
Continued breakthrough above $66,000 will trigger the return of FOMO traders, helping to drive bitcoin's price to all-time highs.
This situation will impact the entire altcoin industry, leading to a significant increase in cryptocurrencies over the next few months.
Fourth quarter Bulls
After bitcoin prices rebounded from below $59,000 to above $63,000, the fear of further decline in cryptos has significantly decreased. Bitcoin's fear and greed index has surged from 32% (indicating market fear) to today's 49%, representing neutrality of the crowd in the past 24 hours.
Bullish sentiment in October is gradually recovering, and it is expected that the bitcoin price will continue to trend upwards in the near future.
In addition, the USA 2024 election will take place in about three weeks, historical data shows that this has triggered bullish sentiment.
Furthermore, gold and major stock indices have recently led the way in bullish breakouts.
