☑️NEW Bitcoin Spot ETF trading volume tripled in March to $111 billion, but Bitcoin dropped to $65k

[FXOcrypto]

According to Cointelegraph, the Bitcoin Spot ETF trading volume tripled in March to $111 billion. This was nearly three times the trading volume recorded in February, as Grayscale and BlackRock ETFs dominated the market.

According to Bloomberg ETF analyst Eric Balchunas, Bitcoin ETF spot trading volume reached $111 billion in March, compared to $42.2 billion recorded in February.

However, today's Bitcoin price is seen dropping at the $65k level. The market may still be waiting for the Bitcoin halving for future Bitcoin value projections. The $70k level still appears to be solid resistance for several weeks of trading.

 

[Riberet19]

I suppose that ETFs in the long term will have very bearish and very bullish effects, because just as they bring in a lot of liquidity, the same thing will happen downwards, for these entities to be able to buy Bitcoin very cheaply, since they know how profitable it is.

 

[FXOcrypto]

Yes, I think so too, the market moves due to various factors, mainly demand, and supply, in this case, the Fear and Greed Index indicator is often used to analyze market interest in crypto assets. Currently, there is a decline in the index value from previously above 80 to now at 71. This reflects a decline in market interest in crypto assets including Bitcoin

 

[Riberet19]

Yes, I think so too, the market moves due to various factors, mainly demand, and supply, in this case, the Fear and Greed Index indicator is often used to analyze market interest in crypto assets. Currently, there is a decline in the index value from previously above 80 to now at 71. This reflects a decline in market interest in crypto assets including Bitcoin

Well I guess it's time to correct a bit, because we've been 7 consecutive months in the positive, and only once this happened and that was in 2012, we're in one of the most bullish times in the history of Bitcoin, so a slight correction like the one we're seeing is normal I think, On the other hand, money doesn't stop coming into ETFs and there's still a lot of hype with Bitcoin, we can see more upside, plus now comes the halving and the decision on Ethereum ETFs in May, I think.

 

[FXOcrypto]

Well I guess it's time to correct a bit, because we've been 7 consecutive months in the positive, and only once this happened and that was in 2012, we're in one of the most bullish times in the history of Bitcoin, so a slight correction like the one we're seeing is normal I think, On the other hand, money doesn't stop coming into ETFs and there's still a lot of hype with Bitcoin, we can see more upside, plus now comes the halving and the decision on Ethereum ETFs in May, I think.

Yes, maybe, bullish momentum is still open, I also see some Bitcoin investors optimistic about Bitcoin being bullish with an aim of reaching 80k or 90k. In recent news from Bitcoin dot com, there has been a slight increase in the inflow of Bitcoin ETF funds on the US spot market Bitcoin ETF. US spot bitcoin exchange-traded funds (ETFs) saw a slight increase in positive inflows, collecting a total of $113.5 million on a trading volume of $2.31 billion.