{"id":243302,"date":"2024-02-08T00:53:28","date_gmt":"2024-02-07T19:23:28","guid":{"rendered":"https:\/\/dripp.zone\/news\/how-miners-will-influence-btc-price-future-trend-crypto-news\/"},"modified":"2024-02-08T00:53:31","modified_gmt":"2024-02-07T19:23:31","slug":"how-miners-will-influence-btc-price-future-trend-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/how-miners-will-influence-btc-price-future-trend-crypto-news\/","title":{"rendered":"How Miners Will Influence BTC Price Future Trend – Crypto News"},"content":{"rendered":"

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Bitcoin price is struggling to recover from the sell-off triggered by the green light for 11\u00a0BTC ETFs<\/span><\/a>. The market mood is still gloomy as investors worry about the impact of these new products. However, there is hope that the Bitcoin halving in 2024 will boost the leading crypto\u2019s momentum and keep it on an upward trajectory.<\/p>\n

If that happens, investor confidence will gradually return in the coming weeks. Nevertheless, addresses with more than zero balances are falling according to blockchain data by Santiment. This bearish sentiment can be attributed to \u201ccrowd FUD, and less interest in direct BTC ownership,\u201d thanks to alternative investment vehicles.<\/p>\n

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\ud83d\udcc9 #Bitcoin<\/a>‘s wallets (with greater than 0 coins) are still declining as #crypto<\/a> nears 4 weeks since the #SEC<\/a>‘s 11 Spot #ETF<\/a> approvals. This can be attributed to crowd #FUD<\/a>, and less interest in direct $BTC<\/a> ownership due to other investment alternatives. https:\/\/t.co\/tjnjELxGw1<\/a> pic.twitter.com\/xRymU7C0ro<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) February 7, 2024<\/a><\/p>\n<\/blockquote>\n

Miners Selling Ahead of Bitcoin Halving 2024<\/h2>\n

A new trend is emerging with persistent growth in daily net inflows into BTC ETFs. According to data from\u00a0SoSoValue<\/span><\/a>, February 5 marked the largest single-day net inflow, topping $68 million.<\/p>\n

The daily total net inflow at the time of writing on Wednesday is $33 million. Cumulatively, ETF products boast $1.68 million in total net inflow. BlackRock\u2019s IBIT emerges as a formidable contender, posting $45 million in net inflow volume followed by $37 million in FBTC.<\/p>\n