Crypto analyst DeFi Man predicts a bullish outlook for the cryptocurrency market despite potential hurdles. He cites several positive indicators including a recovering spot premium and negative funding levels due to heavy shorting. The analyst expects Ethereum (ETH) and Bitcoin (BTC) ETF inflows this week to further bolster the market. However, he also acknowledges challenges such as potential Bitcoin distribution from Mt. Gox and government selling. Despite these obstacles, DeFi Man remains optimistic, stating that the market has already de-risked and the selling pressure will be less than anticipated. He concludes that the market has a strong foundation for growth, and ETF inflows will change the mood and lead to a sustained upward trend.
Bitcoin and Ethereum ETF Inflows Could Push Crypto Market Up: Analyst
Summary:
Crypto analyst DeFi Man predicts a bullish outlook for the cryptocurrency market despite potential hurdles.
He cites several positive indicators including a recovering spot premium and negative funding levels due to heavy shorting.
The analyst expects Ethereum (ETH) and Bitcoin (BTC) ETF inflows this week to further bolster the market.
However, he also acknowledges challenges such as potential Bitcoin distribution from Mt. Gox and government selling.
Despite these obstacles, DeFi Man remains optimistic, stating that the market has already de-risked and the selling pressure will be less than anticipated.
He concludes that the market has a strong foundation for growth, and ETF inflows will change the mood and lead to a sustained upward trend.
Subscribe our newsletter to receive our daily digested news
Join our newsletter and get the latest updates delivered straight to your inbox.
BitcoinToday.app
Get BitcoinToday.app on your phone!
Other Latest News
Bitcoin Surges Past $91,000: What’s Driving This Rally?
Behind the Scenes: Trump Sons Partner with Controversial Figures in Bitcoin Mining Venture
Trump vs. the Fed: The Battle for America's Economic Future Unfolds
Upexi's Bold Move: Raising $100 Million to Invest in Solana Cryptocurrency
Other Latest News
Bitcoin Surges Past $91,000: What’s Driving This Rally?
Behind the Scenes: Trump Sons Partner with Controversial Figures in Bitcoin Mining Venture
Trump vs. the Fed: The Battle for America's Economic Future Unfolds
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!