The price of Bitcoin has recently been under pressure due to macroeconomic factors. However, due to the stable growth of the spotal BTC-ETF, the coin remains stability.
These funds play a key role in supporting the price of bitcoin, making a bull breakthrough more likely in the coming months.
Bitcoin-ETF attract investors
Even in the days of bear moods on the crypto-ETF crypto, they continue to attract funds. Over the past few months, only three cases of outflow of funds have been recorded. In June, the spot exchange funds attracted $ 4.5 billion. Thanks to this, the total volume of revenues grew to $ 48.95 billion.
This shows that institutional investors continue to believe in Bitcoin-ETF. However, as noted in an interview with Beincrypto Mete al, the co -founder of ICB Labs, Bitcoin has not yet completely untied from the stock markets.
Bitcoin continues to remain a reliable asset, holding in the range from $ 100,000 to $ 103,000. According to IOMAP, from $ 100,668 to $ 103,876, investors purchased about 574 170 BTC for a total of more than $ 61.41 billion.
This demand zone indicates the likelihood that bitcoin will remain above $ 100,000, and the expert supports this forecast:
BTC prices can take time
At the time of writing this material, bitcoin is traded at $ 107,075 and tries to fix the level of $ 108,000 as support. This enhances the formation of a descending wedge, which has strengthened over the past month. The inability to hold $ 108,000 indicates the ongoing pressure on the bitcoin in the market.
July traditionally brings Bitcoin an average income of 8.09%. This may portend his restoration, despite the current decline. However, price drawing below $ 101,000 is possible, which will eventually create conditions for growth by $ 110,000.
If the market collapses, BTC can fall below $ 105,000 – probably up to $ 100,000. Loss of support at these levels will cancel an optimistic forecast and indicate further difficulties.
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Source: Cryptocurrency
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