QCP Capital: Crypto Rally Extends, Supported by ETF Inflows.
Bitcoin (BTC) and ether (ETH) surged for a third consecutive day, supported by strong inflows into spot exchange-traded funds (ETFs), according to a weekend analysis by QCP Capital. The firm reported that bitcoin retested the $64,000 mark, while ether reclaimed $2,500 during the rally.
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QCP Capital has reported that Bitcoin ETFs are experiencing substantial inflows, with estimates suggesting that between 10,000 to 13,000 Bitcoins are being added daily. This influx is contributing to bullish sentiment in the market, with QCP Capital projecting that Bitcoin could potentially reach new all-time highs by the end of March 2025 . The firm notes that the resurgence in the U.S. equity markets is also playing a crucial role in supporting this crypto rally
Significant ETF Inflows: Over a two-day period, Bitcoin ETFs recorded a net inflow of $250.30 million, indicating robust investor interest and confidence in the market Market Performance: The rally reflects a broader positive sentiment in the cryptocurrency market, with both BTC and ETH benefiting from the influx of capital into these financial products.
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