Bitwise Bitcoin ETF: Sees $8.5M Outflow
Bitwise Bitcoin ETF reports -$8.5 million daily flow amid bullish BTC trends at $74,789, with 10% profits aiding developers; check BTC price prediction and crypto market analysis.
SourceAnalysis
Bitwise's Bitcoin ETF clocked a daily outflow of -$8.5 million, as reported by Farside Investors. This move highlights ongoing adjustments in BTC investment vehicles, where 10% of profits from the product directly support Bitcoin developers. Investors eyeing Bitcoin ETF inflows should note this amid broader crypto market trends, especially with viral buzz around projects like TAO and Bitcoin hype driving sentiment.
From a technical confluence standpoint, BTC holds firm in its bullish structure on the 4-hour chart, trading at $74,789.41 well above the EMA50 at $72,365.5 and EMA200 at $70,252.65, which act as rock-solid long-term supports. The MACD screams bullish with a golden cross at 736.25, while RSI sits neutral at 61.48, suggesting room for upside without immediate overheat. Price dances inside the Bollinger Bands, testing the upper resistance at $76,580.49—a volatility exhaustion point that could trigger a quick pullback to the lower support at $70,150.41 if momentum fades, but confluence points to continuation higher once buyers regroup, aligning with our BTC price prediction for sustained gains.
Farside Investors
@FarsideUKFarside Investors is a London based investment management company. Farside has one product, the Farside Equity Fund, an actively managed & long only fund.