Investor shift to Bitcoin and gold ETFs signals a move towards alternative assets, potentially impacting future market dynamics and asset valuations. Bitcoin and gold ETFs attract $7B amid fiscal concerns: Bloomberg.
Security concerns around self-custody are increasingly pushing some Bitcoin holders toward institutional custody.
Bitcoin's near-30% surge from below $65,000 to almost $80,000 was fueled in part by a short squeeze that liquidated roughly $4 billion.
"Historically, bitcoin's bull markets have 'officially' begun when price crosses above its 365-day moving average," CryptoQuant said.
Bitcoin stayed away from challenging $80,000 after July US PCE inflation data came in slightly higher than anticipated, pressuring gold and risk assets.
Bitcoin reverses from above $81,000 after July PCE data showed persistent inflation, putting renewed focus on Fed policy and Treasury yields.
Bitcoin fell below $78,000 after its breakout above $81,000 reversed, triggering a wave of long liquidations as traders took profits and bullish leverage unwound. Strong US spot ETF inflows, however, suggest underlying demand has not disappeared.
Bitcoin slipped below $78,000 on Wednesday after hotter-than-expected U.S. Personal Consumption Expenditures (PCE) inflation data raised concerns about the Federal Reserves monetary policy outlook. The pullback came only hours after BTC surged above $80,000, highlighting heightened volatility across the crypto market.
Wall Street research firm Bernstein has renewed its bullish Bitcoin price outlook, forecasting BTC could reach $300,000 by the end of 2029 as institutional adoption and concerns over currency debasement strengthen demand for the cryptocurrency. Bernstein analyst Gautam Chhugani expects Bitcoin to trade near $125,000 by the end of 2026 before climbing to a fresh high of around $150,000 by mid-2027.
Bernstein sees Bitcoin reaching $150,000 by mid-2027 as fiscal pressure supports scarce assets, while Strategy's stock target drops to $350.
Bitcoins powerful August rally has added roughly $15 billion to the estimated value of Bitcoin held by its mysterious creator, Satoshi Nakamoto, as the worlds largest cryptocurrency climbed nearly 22% over the past seven days. Bitcoin surged from a low of $62,679 on Aug. 17 to a high of $81,265 on Tuesday, marking a sharp recovery in the cryptocurrency market.
Large Bitcoin holders are increasingly moving their assets into regulated exchange-traded funds, with BlackRocks iShares Bitcoin Trust (IBIT) emerging as a major destination for whale holdings. Private in-kind exchanges through BlackRock IBIT have now surpassed $5 billion.