Bitcoin Surges 6% to Break $52K: CoinShares Believes Bitcoin ETF Inflows Hit $4B 🚀

Bitcoin Price Surges 6% in 24 Hours

If you are into crypto, you are probably aware that the Bitcoin price has surged an impressive 6% in the last 24 hours. This upward momentum has taken the price to trade at $52,075 as of 00:42 a.m. EST, backed by a significant surge in trading volume – an outstanding 29% increase to $43 billion.

Spot Bitcoin ETFs Attract $4 Billion in Inflows

According to James Butterfill, head of research at CoinShares, spot Bitcoin ETFs have been accumulating net inflows of $4 billion as of February 13. That’s a massive surge, with net inflows reaching $651 million – the highest since the launch day on January 11. BlackRock’s IBIT fund also saw a single-day net inflow of $493 million, accounting for 70% of all daily inflows.

Bitcoin Price Set To Continue Its Bullish Momentum

Bitcoin Price Chart Analysis Source: Tradingview.com — BTCUSD Chart Analysis Source: Tradingview.com

The bullish sentiment is expected to continue as the Bitcoin price has formed an inverse head and shoulder pattern, which has propelled the price through a markup phase. Although the bulls encountered resistance at $52,578, the price is currently touching the upper boundary of the bullish pennant, indicating a potential rebound.

The price is also trading above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the impending bull rally. Additionally, the 50-day SMA trending above the 200-day SMA has formed a golden cross at $42,870, further supporting the upcoming bull run. The Relative Strength Index (RSI) is on a rebound from the 50-midline level at 72, signifying intense buying and affirming the bullish sentiment.

Moreover, the Moving Average Convergence Divergence (MACD) line (blue) is trending above the signal line (orange), signaling a buy signal and potentially driving the price further up. The incoming bullish rally is also backed by the green bars on the histogram, extending further on the upside.

Bitcoin Price Prediction

Given the current technical analysis, the Bitcoin price is anticipated to continue its bullish trend, with the RSI signaling a potential price correction above the overbought region of 70. In such a scenario, $48,018 is expected to act as the best support zone, providing a strong platform for the bulls to push the price through the resistance at $56,612 towards a new high at $60,000.

As the Bitcoin price heads north, analysts predict that the upcoming halving in about two months will further fuel the rally. Meanwhile, Bitcoin Minetrix is being touted as a compelling way to capitalize on the Bitcoin bull run, with the potential for a 10X return on launch.

BTCMTX Presale Surpasses $10.9 Million

If you are a Bitcoin miner, you know the complexities and resource-intensive nature of the activity. However, with Bitcoin Minetrix, a cutting-edge, decentralized cryptocurrency project, these challenges are addressed. The innovative approach has already garnered massive interest from the crypto community, securing over $10.9 million in early funding as it strives to reach its target of $11.5 million.

Spot Bitcoin ETFs are reshaping market dynamics by acquiring Bitcoin at a rate surpassing miner production by 10X, thanks to Wall Street giants like BlackRock and Fidelity driving this surge, thereby fueling demand for BTC.

Buy And Stake BTCMTX, 10X Returns

By purchasing and staking your BTCMTX tokens, you stand to gain an impressive 62% annual percentage yield (APY). When staking, you automatically receive tradable ERC-20 token credits, giving you BTC cloud mining power when burned. Invest in BTCMTX tokens now as they are priced at just $0.0134, with the price anticipated to surge in less than half an hour.

Moreover, by buying and staking BTCMTX, you secure a place in the ongoing $30,000 minedrop competition, where ten winners stand to receive a $3,000 prize each. Analysts anticipate that BTCMTX has the potential to reach a 10X return on launch.

To take part in the presale, visit the BTCMTX official website and swap your ETH or USDT for BTCMTX tokens, or make purchases directly using your bank card.