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BTC & ETH ETF's Extend Their Winning Streaks!
Has BTC topped at $1,00,000?
Coinsauce
December 13, 2024
Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!
💧Top headlines from the last 24 hours:
• Bitcoin Spot ETF Inflows Hit $598M With 11-Day Win Streak
• BlackRock Recommends 2% Allocation In BTC.
📕Educational :
• Has Bitcoin Topped At $100k?
Lets dive in.
📅 Today
BTC& ETH ETF’s On Fire!
Bitcoin Spot ETF inflows reached $598 million in a single day, continuing an 11-day streak, with BlackRock’s IBIT contributing $432 million.
Ethereum spot ETFs reported $274 million in inflows, marking 14 days of gains, led yet again by BlackRock’s ETHA at $202 million.
The total NAV of Bitcoin spot ETFs year-to-date has now surpassed $112.546 Billion, making it the most successful ETF launch in history.
Overall, buying pressure on Bitcoin has been extremely high over the past 2 weeks.
BTC spot ETFs average around $500 mil buy pressure a day for last 14 day, with Saylor buying a few billion per week as well, with MARA & RIOT combined buying almost $2 billion too.
BlackRock Recommends 2% Allocation in BTC!
BlackRock has recently recommended allocating 1-2% of investment portfolios to Bitcoin.
According to them, such exposure could offer investors a diverse source of risk, and superior risk adjusted returns.
Earlier this week, billionaire investor Thomas Peterffy also suggested dedicating up to 3% of one's portfolio to Bitcoin.
All of this signals increasing Tradfi acceptance towards Bitcoin, which is long-term bullish for price.
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🌎 Other News
📕 Educational
Has BTC topped at $1,00,000?
In the 2012-13 cycle, $BTC topped 367 days after the halving.
In the 2016-17 cycle, it topped 526 days after the halving.
In the 2020-21 cycle, it topped 548 days after the halving.
It's been 237 days since the 2024 halving.
If history is any indication, we still have a long way (~200+ days) to go before the bull-run ends.
📊 Stat of the day
🤣 Meme of the day
That concludes our update for today!
We appreciate you joining us for the latest news. We aim to provide the best-in-class insights and highlights that keep you well-informed and ready.
Remember to join us on Telegram and Twitter for additional updates and giveaways. Until then, see you next time!
Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.
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