Spot Bitcoin ETFs Go From Bearish To Bullish, Here Are The Figures
The post Spot Bitcoin ETFs Go From Bearish To Bullish, Here Are The Figures appeared first on Coinpedia Fintech News
Crypto enthusiasts witnessed a dramatic turnaround in Spot Bitcoin ETFs in the past week amid $1 billion inflows. The bullish bounce reignites investor confidence as selling pressure wanes on Bitcoin (BTC).
Amid this trend, ETFSwap (ETFS) has been an exceptional project and continues to rise amid its presale rally. The new platform presents a unique profit opportunity for investors looking to place early bets on potential runners.
Spot Bitcoin ETFs Inflows Raise Bitcoin (BTC) Above $60,000
Bitcoin (BTC) has reclaimed the $60,000 price range in the new week, and Spot Bitcoin ETFs raked in over $1 billion over the past week. This shows a quick turnaround on Bitcoin (BTC) after the largest cryptocurrency fell to bearish pressure in the past several days.
According to SoSoValue, US Spot Bitcoin ETFs recorded a successful week and saw $310 million in inflows on Friday alone. This momentum was led by BlackRock and Fidelity, with Friday inflows of $120 million and $115 million, respectively. The positive momentum comes amid bearish market momentum triggered by Mt.Gox repayments and massive sell-offs from the German government.
While the Mt. Gox repayment had its market effect, the liquidation by the German government has been a major factor in keeping the sell-off of Bitcoin (BTC) to a low of $54,000 on July 5. The German government has completely emptied its reserve with an initial worth of $3 billion in holding. With the selling pressure lifted, Bitcoin (BTC) swiftly bounced on July 12, following significant inflows from Spot Bitcoin ETFs.
As of this writing, Bitcoin (BTC) shows a 10% upward bounce on the weekly chart and is trading at $62,8881. Spot Bitcoin ETFs have been significant drivers of BTC price action, and analysts believe that these inflows will establish substantial support for the crypto asset amid other bearish catalysts.
ETFSwap (ETFS) Capitalizes On Spot Bitcoin ETFs Momentum
The market buzz around ETFs has boded well for ETFSwap (ETFS) as investors see the new token as a potential asset for massive gains amid growing ETF popularity. As such, ETFSwap (ETFS) presale has always reacted positively to inflows on Spot Bitcoin ETFs. The ongoing ETFSwap (ETFS) presale offers an undervalued entry for investors who want to capitalize on its massive profit margin.
The new ETF trading platform is built to offer decentralized access to ETF assets and deliver the global ETF market on-chain. With tokenized ETFs, users can buy listed assets on ETFSwap (ETFS) backed by true securities from traditional markets. This market offering opens up a new avenue for portfolio diversification as investors can explore an alternative investment.
ETFSwap (ETFS) aims to serve as a bridge between centralized and decentralized markets, helping users open up new opportunities and expand the boundaries of traditional finance. The new ETF trading platform offers 24/7 market coverage, convertibility to cryptocurrencies, staking and lending opportunities, lower trading costs, advanced trading tools, and real-time market data.
Furthermore, the new ETF trading platform improves on its platform features with tools like the ETF Screener and ETF Finder. These AI tools are the primary ecosystem drivers for ETFSwap (ETFS) and will provide ETF recommendations based on historical data, trends, market sentiment, and pattern recognition.
In addition, SolidProof recently announced that ETFSwap (ETFS) has passed KYC verification. This means that project ownership and team identity are verified to ensure users can safely interact and invest.
Conclusion
Positive inflows on Spot Bitcoin ETFs have triggered a bullish reaction on Bitcoin (BTC) and a rally on ETFSwap (ETFS). The new ETF trading platform, being the more undervalued option, allows investors to take smaller positions and target massive profits in the future. Besides, experts predict a 50,000% rally on ETFSwap (ETFS) as the new project climbs up to its prospects.
Buy in now at $0.01831 for life-changing gains before the presale price rises to $0.03846 on the next presale stage.
For more information about the ETFS Presale:
