Bitcoin Price Prediction: Fidelity and BlackRock Bitcoin ETF Inflows Beat Grayscale Outflows in Market Shift as Bitcoin Minetrix Presale Ends with $10 Million Raised.

bitcoin price went up It’s up more than 2% in the last 24 hours, trading at $43,191.35 as of 9:10 a.m. ET.

Potential changes in the market could benefit BTC

data BitMEX Research’s totals are as follows: outflow For Grayscale’s Bitcoin Trust (GBTC), outflows slowed to $192 million on Jan. 29, the lowest outflow since the fund’s inception outside of the first day.

Fidelity and BlackRock each saw inflows exceeding GBTC’s outflows. Fidelity Wise Origin Bitcoin Fund (FBTC) was the best performer in this regard, recording inflows of $208 million on its 12th day of trading. BlackRock’s IBIT recorded inflows of $198 million.

This could indicate a significant market shift for the BTC price. As outflows of GBTC become easier, it may only be a matter of time before inflows from newly launched spot Bitcoin ETFs coalesce to support the BTC price..

Bitcoin price remains in positive order

BTC/USDT daily chart (Source: TradingView)

that much bitcoin Prices have hit a series of highs and lows over the past week, forming a rising price channel. If this bullish momentum continues, BTC may soon attempt to turn the $44,430 resistance level into support.

A move beyond this point could pave the way for the leading cryptocurrency to rise to $47,930 in the next few days.

This bullish argument could be invalidated if the Bitcoin price does not close above $44,430 within the next 72 hours. In this alternative scenario, the cryptocurrency could retest the immediate support level of $42,450. Continued selling pressure could push BTC below this key level towards $40,000.

Bitcoin price could continue to rise due to increased purchasing power

technical indicators BTC According to the daily chart, bulls currently have an advantage over bears. Both Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators are showing strength.

The MACD line is breaking above the MACD signal line. This could indicate that BTC’s positive trend shows no signs of slowing down and the Bitcoin price may continue to rise in the coming days. RSI also sits above the simple moving average (SMA), which is generally considered a sign that buyers are stronger than sellers.

With the Bitcoin price expected to continue its positive trend, Bitcoin Minetrix has continued to attract investors over the past few weeks as pre-sales quickly reached the $10 million mark.

Investors are rushing to get involved in this promising project.

Bitcoin Minetrix It is a decentralized cloud mining platform that aims to significantly lower the barrier to entry for anyone looking to get started with Bitcoin cloud mining. Through the split, the project will allow investors who stake its native token, BTCMTX, to claim a portion of the ecosystem’s cloud mining power.

Bitcoin Minetrix not only reduces costs and removes the complexities associated with starting BTC cloud mining, it also opens up the possibility for investors to earn passive income paid in Bitcoin.

🚀 @black stonethe world’s leading asset manager, has significantly increased its stake in leading companies. #Bitcoin like a mining company @RiotPlatforms and @MarathonDH.

with their confidence $BTC Mining is soaring, what do you foresee for the future of the agency’s interest? #Cryptocurrency mining?… pic.twitter.com/tWud4CEtMd

— Bitcoin Minetrix (@bitcoinminetrix) January 30, 2024

Investors are scrambling to get an early start on this promising project, having currently raised over $9.9 million in funding.

Set to benefit from BTC’s increasing scarcity

Bitcoin entered the mainstream financial market on January 11 with the launch of a spot Bitcoin ETF (Exchange Traded Fund) in the United States. This, along with the halving event scheduled for April, will not only drive institutional demand for BTC but also increase Bitcoin’s scarcity.

This could distort the supply and demand ratios and push up the prices of major cryptocurrencies. Potential bullish momentum could spill over into Bitcoin derivative projects such as Bitcoin Minetrix.

As a result, analysts say BTCMTX has the potential to deliver a 10-fold return for early-stage investors upon launch.

BTCMTX available for purchase here.

Related articles:

A new cryptocurrency mining platform – Bitcoin Minetrix

• Thanks to Coinsult
• Decentralized, secure cloud mining
• Get free Bitcoin every day
• Native token currently in pre-sale – BTCMTX
• Staking Rewards – APY 100% or more