Spot Bitcoin ETFs Register $35M Net Inflow On First Post-Halving Trading Day

Bitcoin BTC/USD spot exchange-traded funds (ETFs) continued to attract investor interest on Monday, with $62.09 million in total net inflows.

What Happenedb: According to data from SoSoValue, Grayscale's Bitcoin Trust GBTC saw a net outflow of $34.993 million. The Fidelity Wise Origin Bitcoin Fund FBTC showed a robust performance with a net inflow of $34.8334 million.

The cumulative net inflow into Bitcoin spot ETFs has now reached $12.384 billion.

This financial activity comes shortly after Bitcoin’s fourth halving, which occurred on April 19. Traditionally, halvings tend to influence Bitcoin prices positively, a pattern observed in the weeks and months following past halvings.

Historical data suggest that Bitcoin's price typically begins its upward trajectory approximately 50-100 days post-halving.

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Why It Matters: If this pattern holds true, Bitcoin bulls may still have time to fortify their positions in anticipation of potential gains.

QCP Capital analysts noted that while the immediate aftermath of the halving saw minimal price movement, the potential for a short-term increase driven by altcoins and meme coins is present.

These coins have experienced persistent negative funding, some to extremes of -100% annualized rates.

With Ethereum ETH/USD risk reversals normalizing and speculative sentiment improving, there might be a short covering and a resurgence in leveraged longs in the near future.

For investors looking to capitalize on this trend, QCP Capital suggests a bullish stance on Bitcoin, highlighting the attractiveness of buying BTC calls expiring at year’s end and beyond. Specifically, ERKO options for December 2024 and March 2025 offer significant payout potentials at adjusted risk levels, reflecting a positive long-term outlook for Bitcoin prices.

Moreover, investors are advised to consider accumulating Bitcoin positions at discounted prices, notably at the $55,000 level, ahead of the expected post-halving surge.

Such strategic positioning could capitalize on the typical exponential rise seen in previous cycles, providing substantial returns as market dynamics evolve.

What’s Next: This evolving landscape of digital assets and the strategic responses by investors will be a key topic of discussion at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

The event is set to explore the broader implications of these market movements and the sophisticated financial strategies now being employed within the cryptocurrency sector.

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