U.S. Bitcoin ETFs Hold 5.87% Of Supply As Investor Demand Stays Strong Above $100K

Bitcoin ETFs in the US now hold almost 6% of all Bitcoin, signaling strong investor confidence.
The price is holding above $100K with analysts predicting a possible surge past $110K soon.

Why Bitcoin’s Been Climbing

Lately, Bitcoin’s been pushing higher, and part of that is because the U.S. Federal Reserve has given a pretty optimistic outlook on how things are going economically. That positive vibe seems to have trickled down into the crypto markets as well. The price has managed to stay above that crucial $100,000 mark and is kind of chilling just below its all-time high, like it’s getting ready for the next big move. What’s really interesting though is how much U.S. Bitcoin ETFs are buying up.

The source indicated that these ETFs now hold a whopping 1,163,377 BTC! That’s about 5.87% of all the Bitcoin that exists. Even though there were a few minor sales when Bitcoin went over $100K, the overall trend is still looking very bullish. This suggests that big institutions are really getting on board and see Bitcoin as a good long-term investment.

What’s Next For The Price?

With all these new investors jumping in through the ETFs, and on-chain data looking good, it seems like there’s a real chance that Bitcoin could break through its current resistance level. If it does, we might see it shoot into uncharted territory price-wise. However, the source explained that market participants are closely watching to see if Bitcoin can hold those key levels because if it fails to stay above $100K then there could be some short-term volatility before the next upswing.

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The source revealed that analysts believe BTC could surge past $110K at any moment. However, there is still concern about a potential drop below $100K as well. Investors are remaining optimistic but waiting for a clear sign to confirm the next leg of this bull run. It’s like everyone’s holding their breath, waiting to see what happens next. CryptoQuant analyst Axel Adler shared on X that Bitcoin ETFs are still drawing in new investors, which is a strong sign that there’s more movement to come.

Source: Bitcoin | Bitcoinethereumnews.com

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