Bitcoin Price Update
The Bitcoin price has climbed 1.7% in the last 24 hours to trade at $41,570, with a 7% drop in trading volume. Simultaneously, Fidelity has become the second spot BTC exchange-traded fund (ETF) issuer to hit $1 billion in inflows.
ETF Flows Reach $1.2 Billion After 5 Days
BitMEX Research data shows that BlackRock’s IBIT was the first to hit $1 billion worth of inflows, followed by Fidelity’s FBTC after five days of trading. However, Grayscale’s GBTC recorded $579.6 million worth of outflows. Yet, the total net flows from the first five days of trading for the new US spot BTC ETFs now stand at nearly $1.2 billion.
Bitcoin Price Outlook Amid Spot BTC ETF Inflows
The BTC price has faced pressure due to the 25- and 50-day Exponential Moving Average (EMA). The RSI and MACD indicators point to weak price strength. An extended fall could see the BTC price to the 100-day EMA at $39,221. The king of cryptocurrency could descend to the $37,800 level, standing almost 10% below current levels.
Alternatives to Bitcoin in Focus
BTCMTX is the ticker for the Bitcoin Minetrix ecosystem.Favored by analysts for penny cryptos with the potential for explosive growth, it operates as a tokenized cloud-mining platform. It spares investors from the challenges of traditional BTC mining by offering full control over mining activities.
The Bitcoin Minetrix Presale Continues
With a price hike coming in less than 21 hours, secure your tokens in this project before it’s too late. The presale has already raised over $8.8 million out of a target of $9.5 million, and each token is selling for $0.0129.
Promising Alternative To Bitcoin
The project, Bitcoin Minetrix, spares investors the challenge of high hardware costs and deceptive frauds that have eroded people from mining BTC.
Knowing the benefits of #BitcoinMinetrix:
Easy access for convenience. 🌐
Streamlined cost structure for enhanced efficiency. 💲
Peace of mind with no worries about the resale value. 🔄 pic.twitter.com/hx3zJLXTfN
— Bitcoinminetrix (@bitcoinminetrix) January 18, 2024
Closing Thoughts
Bitcoin is experiencing increased ETF inflows, influencing the price outlook, with alternative tokens like BTCMTX in focus as promising alternatives. As the crypto landscape evolves, it’s essential to stay informed about emerging opportunities and potential trends.
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