Bullish Bitcoin Sentiment, Raising Interests Of Institutional And Retail Investors
JAKARTA - Bitcoin broke 71,000 US dollars, along with the inflow of Bitcoin ETF funds. As reported by The Block. BlackRock's IBIT recorded a net inflow of 350 million US dollars. The price of BTC, which was at 68,500 US dollars, rose to US $ 71,000, is the highest price in the past week.
The demand for funds traded on the US spot Bitcoin ETF is what makes Bitcoin soar past the price of 70,000 US dollars. Bloomberg ETF analyst Eric Balchunas highlighted this as a tidal wave of devastating momentum.
This shows bullish sentiment, which shows positive market sentiment towards the asset. Some traders expect Bitcoin to rise further in the coming weeks, citing increased risk appetite and favorable regulatory expectations.
Oscar Darmawan, CEO of INDODAX, gave his views on this development.
The sharp rise in open interest and ETF inflows has shown a very high interest from institutional and retail investors in Bitcoin. This is a clear sign that Bitcoin is increasingly accepted as a major investment asset. In Indonesia itself, we see a similar trend to the increasing number of investors who are interested in Bitcoin and other crypto assets," said Oscar, in his statement, Monday, June 10.
Oscar also added that the growing trust of institutional investors in Bitcoin shows that these assets are increasingly recognized and trusted.
This is a positive step towards wider adoption. On INDODAX, we continue to strive to provide a safe and reliable platform for investors to transact crypto assets, "said Oscar.
Oscar also noted that clearer and more supportive regulations from the government could further encourage the growth of crypto markets around the world.
"We hope that the government will continue to pay attention to this development and provide a regulatory framework that supports growth and innovation in this sector," he explained.
In addition, Oscar said, with the increasing inflow into Bitcoin ETF, this indicates that investors are not only interested in short-term trade, but also see Bitcoin as a long-term investment.
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"This is a positive development that can bring further stability to the crypto market," he said.
Oscar closed with optimism. His party at INDODAX believes that the future of Bitcoin and other crypto assets is very bright.
"With the growing adoption and better regulatory support, we believe that Bitcoin will continue to record new achievements and provide great benefits for its investors," Oscar said.
Momentum like this is very profitable for investors who have been investing for a long time, because price spikes can occur at any time. Dollar Cost Averaging (DCA) technique is perfect for investors who want to earn profits by paying off their investments. INDODAX provides a Routine Investment' feature that can help you invest on a scheduled basis.