Bitcoin ETFs Hoarding BTC Like It’s Black Friday 🛒

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So, Bitcoin’s been on this little joyride lately, thanks to the U.S. Federal Reserve’s “everything’s fine, folks!” attitude. It’s hanging out above $100K like it’s some kind of VIP lounge, just chilling below its all-time high. Traders are sitting there, popcorn in hand, waiting for the next big move. 🍿

What’s fueling this? Oh, just U.S. Bitcoin ETFs hoarding BTC like it’s toilet paper during a pandemic. On-chain data shows these funds now hold 1,163,377 BTC—that’s 5.87% of the total supply. Sure, there were some minor outflows after BTC hit $100K, but hey, who doesn’t take a little profit? The trend’s still bullish, because apparently, institutions think Bitcoin is the new gold. 🪙

With ETFs bringing in new investors and on-chain metrics looking good, everyone’s wondering if BTC can break through resistance and go full-on “to the moon.” 🚀

If it holds key levels, we could see a breakout. If not? Well, get ready for some short-term drama before the next leg up. 🎭

Bitcoin’s Teetering on the Edge of Glory (or Disaster)

Bitcoin’s trading at a critical level, just below its all-time high. Analysts are like, “It could hit $110K any second!” But also, “Watch out, it might dip below $100K!” Investors are optimistic but waiting for a clear signal. Basically, it’s a classic “will they, won’t they” sitcom moment. 📺

One of the big reasons for this optimism? U.S. Bitcoin ETFs are still gobbling up BTC like it’s free pizza. CryptoQuant analyst Axel Adler shared on X that these funds are attracting new investors. 🍕

These ETFs now hold 1,163,377 BTC—5.87% of the total supply. Despite a tiny outflow after BTC hit $100K, the trend’s still strong. Institutional demand is up, and everyone’s waiting for that breakout confirmation. If it happens, we could see a wave of new demand. If not? Well, enjoy the short-term rollercoaster. 🎢

Bitcoin’s Knocking on ATH’s Door

Bitcoin’s at $104,600, just 5% away from its all-time high. It’s been on a 4-hour uptrend since Monday, which is basically Bitcoin’s way of saying, “I’m feeling good, let’s do this!” 🕺

To break ATH, BTC needs to hold above $103,600. If it pushes past $106,400, we’re looking at a breakout and probably a lot of FOMO buying. But if it drops below $103,600? Well, the rally might take a little nap before trying again. 😴

For now, Bitcoin’s in a strong uptrend, and everyone’s watching to see if it can hold key levels and make that next move toward $110K. If momentum holds, the next few days could be huge. Or, you know, it could just be another day in crypto land. 🌍

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2025-02-01 06:14