All articles tagged with #etf inflows
Gold has reached a historic milestone, breaking its inflation-adjusted record from 1980 and experiencing its best year since 1979, driven by geopolitical uncertainty, investor inflows into gold ETFs, and its status as a safe haven asset, with prices continuing to rise and surpassing previous records.
Ether's price dropped 6% after hitting a record over the weekend, erasing gains from a rally driven by Federal Reserve rate cut hints and increased institutional interest, while Bitcoin also declined, with both cryptocurrencies experiencing significant ETF outflows.
Canary Capital CEO Steven McClurg predicts a greater than 50% chance that Bitcoin could reach $150K before entering a bear market, citing economic concerns and ETF inflows as key drivers, while other industry leaders like Michael Saylor and Matt Hougan remain optimistic about continued growth and a strong market in the coming years.
Bitcoin reached a new all-time high of $118K driven by significant ETF inflows, especially from BlackRock, with daily inflows of $1.18 billion. The strong demand suggests potential for further rallying to $120K or higher, although miner profit-taking and market support levels are important factors to watch.
Despite nearly $11 billion in ETF inflows and significant institutional buying, Bitcoin's price remains range-bound below $110K due to selling pressure from long-term holders and whales, with some large OTC transactions not impacting the market price. Analysts suggest that while demand is high, the offloading by long-term holders and whale activity are keeping the price subdued, although some believe a squeeze higher could still occur, with optimistic forecasts like Chamath Palihapitiya's predicting a $500K BTC by October.
Ethereum has reached a new all-time high of 148.38 million holders, indicating strong long-term interest despite recent price dips. The network also saw record staking inflows and continued ETF investments, suggesting confidence from institutional investors and a bullish outlook for ETH's future, although short-term caution remains due to market volatility.
Goldman Sachs predicts that gold prices will remain above $2,000 an ounce for the next 12 months due to the surge in safe-haven demand caused by the current banking crisis. The investment bank also reiterated its bullish outlook for the commodity sector, expecting a broad-based gain of 28%. Goldman Sachs believes that gold will be well supported by ETF inflows and a weaker US dollar caused by the end of the Federal Reserve's tightening cycle. However, a significant shift in the Federal Reserve's monetary policy would be required to push prices above $2,100 an ounce.