📈 Bitcoin has surged over 60%, is trading above $70,000 and nearing its all-time high of around $73,500 in Q124. Inflows into US cryptocurrency ETFs are increasing as the Bitcoin price recovers.
📊 Below are the ETFs making waves in 2024, ranked by their total assets, and looking like they could be even more promising in the second quarter?
In this snapshot, we've highlighted the top 10 Bitcoin ETFs in the U.S. by assets under management (AUM) as of March 29, 2024.
Symbol | Total Assets ($MM) | Previous Closing Price |
$23,575.90 | $63.17 | |
$17,160.80 | $40.47 | |
$10,026.30 | $62.06 | |
$3,024.76 | $32.30 | |
$2,885.05 | $70.98 | |
$2,144.48 | $38.71 | |
$1,731.09 | $83.30 | |
$1,472.37 | $53.25 | |
$578.54 | $80.34 | |
BRRR | $524.58 | $20.13 |
The above ETFs are all about buying and holding actual Bitcoin, which means their performance is closely tied to Bitcoin's own journey. How the bitcoin will perform in Q2 24? Before that question, let’s recap the reasons drives bitcoin price.
🌐 The Bitcoin price rally is the result of a perfect storm of factors:
🏢 Institutional Endorsement: Bigwig institutions are scooping up Bitcoin, sending demand – and prices – soaring.
📈 Market Sentiment and Speculation: With Bitcoin seen as a hedge against inflation, optimism and speculation are driving its value higher.
🌍 Macro-Economic Environment: In these uncertain economic times, Bitcoin's standing as a safe haven is shining through.
🤝 Adoption and Integration: Bitcoin's making its way into various sectors, increasing its utility and appeal.
📊 Technical Momentum: Bullish patterns and indicators are pushing Bitcoin forward, with traders jumping on the upward trend.
🔮 Looking ahead, while Bitcoin's trajectory is positive, it's essential to keep a watchful eye on the market.
Some market commentator pointed out:
“The upcoming Bitcoin halving, expected around April 20th, often precedes a price correction. Historically, this happens 40 to 20 days before the event, with an average drop of 27% over about a month. Watch for signs of technical divergence – if sustained investment slows, a pullback might be on the cards.
With the halving and rate cuts yet to occur, this bull cycle likely persists, with correction targets in the range of 15% to 30%, aiming at $49K to $59K. This correction provides an opportunity to continue buying, with the next rally targeting a doubling from current levels, potentially reaching $100K to $120K, marking the likely peak of this bull market cycle.”
🤔 What are your thoughts on this? How are you positioning yourself for the next moves in the Bitcoin and broader cryptocurrency space?
💡 Considering the direct impact of Bitcoin's price on related US stocks and ETFs, and with companies like $Coinbase Global, Inc.(COIN)$ $MicroStrategy(MSTR)$ $Hut 8 Mining Corp(HUT)$ $Block(SQ)$, and others in the mix, do you have any additional insights or ideas regarding investments in Bitcoin-related stocks and ETFs in Q224?
💌 Feel free to share your thoughts and strategies in the discussion section below. Let's continue the conversation!
Comments
For example, in the 30 days preceding the July 9, 2016 halving event, bitcoin’s price rose from $574.63 to $650.96, a 13% increase. In the 30 days preceding the May 11, 2020 halving event, bitcoin’s price rose from $6,859.08 to $8,601.80, a 25% increase. The total calendar year returns for bitcoin in 2016 and 2020 were 124% and 303%, respectively.
With these in mind, I see it fit to buy more into $MicroStrategy(MSTR)$ whenever it dips because MSTR will emerge as the best Crypto stock of all time. 💰✨️
🤯Hail the legendary and visionary Michael Saylor 🙌
@LMSunshine @koolgal @Shyon @Aqa @DiAngel @LMSunshine @GoodLife99 @Universe宇宙 @rL
What are your thoughts on this? How are you positioning yourself for the next moves in the Bitcoin and broader cryptocurrency space?
**比特币减半:**
下一次比特币减半预计将在2024年4月16日左右发生。减半是指每隔21万个区块（约每四年）比特币的挖矿奖励就会减半。这会导致比特币的供应量减少，从而可能导致价格上涨。
**比特币压力支撑位:**
比特币的价格受到多种因素的影响，包括供需关系、宏观经济状况、投资者情绪等。因此，很难准确预测比特币的价格何时会涨跌或回调。
根据目前的市场状况，一些分析师认为比特币的压力支撑位如下：
* 压力位：$70,000, $80,000, $90,000
* 支撑位：$60,000, $50,000, $40,000
**比特币何时上涨/下跌/回调:**
* **上涨:** 如果比特币突破$70,000的压力位，则可能继续上涨至$80,000甚至更高。
* **下跌:** 如果比特币跌破$60,000的支撑位，则可能继续下跌至$50,000甚至更低。
* **回调:** 任何大幅上涨或下跌之后都可能发生回调。回调是指价格回落到之前的支撑位或压力位附近。
**七万以上压力支撑位:**
如果比特币突破$70,000的压力位，则下一个压力位可能在$80,000附近。
**回调多久:**
回调的时间长短取决于多种因素，包括市场情绪、宏观经济状况等。通常情况下，回调会持续几周或几个月。
**上涨多久:**
上涨的时间长短也取决于多种因素。如果比特币的基本面仍然强劲，则上涨趋势可能会持续数月甚至数年。
**风险提示:**
比特币是一种高风险投资。在投资比特币之前，请务必做好风险评估。
**建议:**
* 不要将所有鸡蛋放在一个篮子里。
* 只投资你能承受损失的资金。
* 做好长期投资的准备。
**参考链接:**
* Bitcoin Halving: [https://www.bitcoin.com/zh/get-started/what-is-bitcoin-halving/](https://www.bitcoin.com/zh/get-started/what-is-bitcoin-halving/)
* Bitcoin Price Prediction: [https://www.coindesk.com/
As we all know, cryptos are always a high risk investment with super high volatility.
Bitcoin fell for a second day to start the new month and quarter amid rising Treasury yields and strength in the U.S. dollar. The flagship cryptocurrency fell more than 4.76% on Tuesday to $66,134.00, bringing its two-day loss to 7%.
Meanwhile, the 10-year U.S. Treasury yield hit its highest level of the year and the dollar, which has an inverse relationship with bitcoin, hit a five-month high.
Personally, I think Bitcoin doesn't need much excuse to go through a period of correction after such an explosive performance in Q1. Having said that, U.S. economic data has been stronger of late, all while inflation continues to be a concern. This has resulted in a repricing of Fed expectations, translating to broad-based U.S. dollar demand on the more attractive U.S. dollar yield differentials.
April could be tumultuous for crypto and related stocks, particularly mining stocks. Investors are looking toward the bitcoin halving, which will slash the reward, and therefore revenue, of bitcoin miners, in the second half of the month. The event could hurt the performance of miners but historically has set bitcoin up for rallies of 300% or more in the months that follow.
I think currently it is possible for Bitcoin to further retrace towards 60,000 dollars area $Coinbase Global, Inc.(COIN)$
@WallStreet_Tiger @MillionaireTiger @TigerStars @CaptainTiger @Tiger_comments