Bitcoin News: Majority of Bitcoin ETF Inflows Driven by Short-term Trading

A recent report by 10x Research has shed light on the investment behavior surrounding bitcoin exchange Traded Funds (ETFs). Here's a closer look at the key findings.

Bitcoin ETF: Majority of Inflows from Short-term Arbitrage

The introduction of Bitcoin [BTC] Exchange Traded Funds (ETFs) has reshaped the crypto landscape. However, a recent report by 10x Research reveals that much of the capital flowing into these U.S.-based ETFs is driven by short-term trading tactics rather than long-term investment strategies. Since their debut in January 2024, these ETFs have amassed around $39 billion in net inflows, with only $17.5 billion (approximately 44%) reflecting genuine long-term interest, according to Markus Thiele. Declining Funding Rates have also triggered outflows, raising concerns over Bitcoin’s rally sustainability.

Bitcoin To $13 Million? Robert Kiyosaki Backs Michael Saylor’s Bold Vision

Robert Kiyosaki, the author of “Rich Dad Poor Dad” and a Bitcoin supporter, has backed Michael Saylor’s prediction that Bitcoin can hit $13 million. This prediction was made after a podcast interview where podcaster Patrick Bet-David proposed a hypothetical scenario of Bitcoin's price surge if its adoption increases significantly.

Altvest Capital Adopts Bitcoin as Treasury Reserve Asset

Altvest Capital, the first publicly traded African company to adopt Bitcoin as a treasury reserve asset, announced this move as part of a broader treasury management strategy to strengthen financial resilience and protect its business from currency depreciation risks. Stafford Masie, chairman of Altvest Capital’s board of directors and a former head of Google for South Africa, expressed unwavering support for Bitcoin, stating that it is his preferred digital asset over any other blockchain projects.

Bitcoin Indicator Signals Potential Momentum Shift

Bitcoin is trading below the $100,000 mark for over three weeks amidst market uncertainty and volatility. The price remains above critical demand zones but has shown indecisive price action. Crucially, Bitcoin’s Short-Term Holder Spent Output Profit Ratio (STH-SOPR) on a 7-day SMA is testing the breakeven level at 1.0, indicating a potential shift in market momentum if it breaks out above this level.

VanEck Proposes Strategic Bitcoin Reserve to Offset U.S. Debt

Investment firm VanEck has introduced a proposal suggesting that the United States could significantly mitigate its national debt by establishing a Strategic Bitcoin Reserve. Inspired by Senator Cynthia Lummis' BITCOIN Act, the initiative advocates for the U.S. Treasury to acquire up to one million bitcoins over five years and hold them for at least twenty years. The goal is to leverage Bitcoin's [BTC] potential long-term appreciation to strengthen the nation's balance sheet. Institutional and state-level Bitcoin adoption is rising, with models like El Salvador showcasing national crypto accumulation.