Crypto market maker QCP Capital said in its latest market report that despite the limited volatility of Bitcoin prices over the past week, market sentiment is turning bullish on Bitcoin, mainly based on the following 5 reasons:
1. Bitcoin spot ETF inflows have increased significantly in recent days, reaching $232 million on Thursday;
2. Traditional financial giants such as Citadel, Goldman Sachs, UBS, and Citi will be authorized participants in the BlackRock Bitcoin ETF, which is good news;
3. The market continues to buy a lot of Bitcoin call options (and there is a large sell-off of Ethereum

Shiba Inu set to rise to $0.0001: Crypto analysts reveal what's driving the rally
Over the past few months, there has been a surge in the price of Shiba Inu as there has been a surge in activity and interest in meme coins. This price action has prompted traders and analysts to ponder when SHIB will be able to reach the coveted $0.0001 mark, a price level that has largely failed to reach despite the impressive price action.
Cryptocurrency analyst Micheal_EWPro published an analysis of when SHIB could reach the $0.0001 price level. According to him, the current dynamics could push SHIB above $0

Data: SHIB exchange holdings hit a two-year low
Data from crypto analytics firm Glassnode shows that the amount of SHIB held by exchanges has fallen to its lowest level since March 2022. This highlights the bullish sentiment among SHIB investors, as the decline in exchange supply inevitably means that these investors choose to hold for the long term rather than sell their holdings immediately.

What determines the price of Bitcoin?
The market forces of supply and demand affect the price of Bitcoin. When there are more sellers, the price usually goes down and vice versa. Bitcoin prices are also affected by factors such as media coverage, investor sentiment, and regulatory news, resulting in rapid price fluctuations. The market dynamics of supply and demand, which affect the prices of other goods and services, also determine the price of Bitcoin.

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Bitcoin rose to a record high for the third time in five days, and traders seem to have taken the opportunity to cash in some of its recent gains. Bitcoin hit an all-time high of $72,968 on Tuesday before falling back below $70,000. Previously, CoinShares reported that $2.7 billion flowed into crypto assets last week, most of which went to Bitcoin. Since the beginning of this year, the prices of both Bitcoin and the 100 largest coins have increased by about 70%. Some analysts believe that $80,000 is the next possible Bitcoin target. The success of the spot bitcoin exchange-traded fund (ETF) la

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