Price: $0.40617 5.0376%
Market Cap: 59.67B 1.8127%
Volume (24h): 12.03B 0.4%
Dominance: 1.8127%
Price: $0.40617 5.0376%
Market Cap: 59.67B 1.8127%
Volume (24h): 12.03B 0.4%
Dominance: 1.8127% 1.8127%
  • Price: $0.40617 5.0376%
  • Market Cap: 59.67B 1.8127%
  • Volume (24h): 12.03B 0.4%
  • Dominance: 1.8127% 1.8127%
  • Price: $0.40617 5.0376%
Home > Information news > Investor Sentiment Recovers for Bitcoin Products as GBTC Sees Lower Outflows

Investor Sentiment Recovers for Bitcoin Products as GBTC Sees Lower Outflows

Release: 2024/02/20 11:05 Reading: 459

Original author:BH NEWS

Original source:https://coinmarketcap.com/community/articles/65d40d5ced9ddf3128ed9c19

Investor Sentiment Recovers for Bitcoin Products as GBTC Sees Lower Outflows

You can also read this news on BH NEWS: Investor Sentiment Recovers for Bitcoin Products as GBTC Sees Lower Outflows

The Grayscale Bitcoin Trust (GBTC) is witnessing a decrease in outflows, with investor alarm not escalating despite a substantial sale approval by Genesis. Where January saw a net outflow of $5.64 billion, February recorded a decline to outflows in the vicinity of $50 million daily. In contrast, other exchange-traded funds (ETFs) are experiencing robust inflows, indicating a resurgence in the willingness to undertake risk in Bitcoin and other cryptocurrencies. This trend raises questions about the future pricing of well-known alternative coins.

Cardano Struggles with Technological Progress and Competition

Cardano faces challenges in technological advancements and is grappling with emerging competitors. Founder Hoskinson’s focus on global events, which has previously drawn criticism, seems to overshadow Cardano’s development, potentially impacting its standing in the market.

Avalanche’s Resistance and Price Consolidation

Avalanche (AVAX) encountered resistance at $42 on February 15th— a critical level that investors have come to recognize. The barrier of $50 remains a difficult milestone to surpass. If Avalanche’s price fails to maintain the $34.40 support, it might result in a further drop, suggesting a continued consolidation within the $32-$42 price range.

Dogecoin Miners’ Diminishing Reserves Indicate Potential Growth

Dogecoin (DOGE) miners hold a significantly reduced reserve of 4.17 billion DOGE, a sharp decline from the 36.2 billion in 2017. Despite steady sales during a bearish market, a slight recovery is seen after decreasing reserves to 4.12 billion by February 9th. The current market indicators, such as a rising 20-day EMA and RSI above the neutral zone, suggest miners are leaning towards accumulation, hinting at a possible price increase for DOGE if it surpasses the $0.09 mark.

The post first appeared on BH NEWS: Investor Sentiment Recovers for Bitcoin Products as GBTC Sees Lower Outflows

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.