To The Moon

📈 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 $Grayscale Bitcoin Trust(GBTC)$ $23,575.90 $63.17 $iShares Bitcoin Trust(IBIT)$ $17,160.80 $40.47 $Fidelity Wise Origin Bitcoin Fund(FBTC)$ $10,026.30 $62.06 $ProShares Bitcoin Strategy ETF(BITO)$ $3,024.76 $32.30 $ARK 21Shares Bitcoin ETF(ARKB)$ $2,885.05 $70.98 $Bitwise Bitcoin ETF(BITB)$ $2,144.48 $38.71 $ARK Next Generation Internet ETF(ARKW)$ $1,731.09 $83.30 $2X BITCOIN STRATEGY ETF(BITX)$ $1,472.37 $53.25 $VanEck Bitcoin Trust(HODL)$ $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!