Bloomberg data shows that up to US$2.5 billion has flowed into Bitcoin spot ETFs this week, which shows that institutions are still continuing to increase their positions. As spot ETFs continued to maintain net inflows and the currency price hit the $52,000 mark this week, the mining difficulty soared by more than 8.24% to 81.73 T on the 15th, setting a new historical high again.
(Previous summary: QCP Capital: Bitcoin easily exceeded 69,000 in March! Spot ETFs continued to attract gold, with an average daily net inflow of 13,000 BTC)
(Background supplement: Bitcoin spot ETF trading volume is approaching CEX! CryptoQuant: The impact of large institutions on BTC will be more obvious)
Contents of this article
- BlackRock IBIT has attracted more than 5 billion magnesium in gold
- Crypto Quant founder: Bitcoin will reach 112,000 mg this year
- Mining difficulty hits record high, competition among mining companies becomes fierce
More than a month after the Bitcoin spot ETF was launched on January 11, buying momentum is still quite strong, and institutions continue to increase their positions in large quantities.According to data compiled by Bloombergshow, nearly $2.5 billion has flowed into Bitcoin spot ETFs this week! Among them, IBIT issued by BlackRock accounted for up to 58% of the total capital inflows this week, which is more than the sum of other opponents.
BlackRock IBIT has attracted more than 5 billion magnesium in gold
On Monday, IBIT also recorded its second-highest single-day trading volume since its listing, which was approximately $35 million. In recent days, BlackRock has become increasingly clear as a market leader in Bitcoin spot ETFs. Since its launch, IBIT has received more than $5 billion in inflows, about $1.5 billion more than Fidelity, which has the next most.
Extended reading: Real-time status of Bitcoin spot ETF》BlackRock’s trading volume surpassed Grayscale for the second time, and GBTC selling pressure has dropped by 50%
Source: Bloomberg
Crypto Quant founder: Bitcoin will reach 112,000 mg this year
As GBTC selling pressure continues to decrease, Bitcoin spot ETF fundsPositive inflows have continued since January 29Bitcoin has become a hot commodity, and the price of BTC once exceeded US$52,800 on Thursday, rising 9.7% in the past seven days and now trading at US$51,941.
Ki Young Ju, founder of Crypto Quant, a well-known on-chain analysis institution, predicted the price trend of BTC over the weekend, saying that based on the current capital inflow trend of spot ETFs, the top price this year may reach US$104,000 to US$112,000; QCP Capital also optimistically predicted that Bitcoin may be It easily surpassed its all-time high of $69,000 before the end of March.
Extended reading: Founder of Crypto Quant: Bitcoin is expected to reach $112,000 in 2024, ETF funds continue to flow in, and GBTC selling pressure reaches a new low
Mining difficulty hits record high, competition among mining companies becomes fierce
In the context of the strong influx of funds from spot ETFs, which has pushed up currency prices, the difficulty of Bitcoin mining has reached a record high, intensifying competition among mining companies.
according to BTC.com data, Bitcoin ushered in a mining difficulty adjustment when the block height reached 830,592. The mining difficulty surged 8.24% to 81.73 T, once again setting a new historical high, and the average computing power reached 632.45 EH/s. The last difficulty adjustment on February 2 also saw a significant increase of more than 7.33%.
For mining companies, there are less than two months left before the Bitcoin halving period. This may be the highest financing and profit stage for mining companies before the halving. Therefore, mining companies have begun to work hard to increase their horsepower. Get on the machine, dig first and win first, so as to proactively face the upcoming halving of profits in the future.
Source: BTC.com
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Tags: IBIT Mining Difficulty Bitcoin Bitcoin Spot ETF Net Inflow into BlackRock
2024-02-17 08:35:31
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