Popular Analyst Reveals Trading Alert for Bitcoin ETF, BTC Price To $80K?

Varinder Singh
May 18, 2024
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Bitcoin ETF Records $287M Outflow Amid BTC Dip To $94K, What's Next?

Highlights

  • Markus Thielen revealed a new trading alert for Bitcoin ETFs has been triggered for Bitcoin price rally.
  • GBTC flashed a buy signal that could led to massive inflow in spot Bitcoin ETF.
  • Bitcoin price likely to hit new ATH after bull flag breakout.

Popular analyst Markus Thielen, who accurately predicted BTC price ATH timeline and crash below $60K, has forecasted another key event, this time for Bitcoin ETFs. In a new research report, he revealed that a new trading alert for Bitcoin ETFs has been triggered. Thielen, who is also the CEO of institutional crypto research 10x Research, said Bitcoin price to rally faster soon amid massive buying by institutional and retail investors.

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Markus Thielen Says Bitcoin ETF Signals About BTC Price Rally

Markus Thielen, CEO of 10x Research, on May 18 revealed that a new trading alert for Bitcoin ETFs has been triggered. The last time the model was triggered on January 30 this year, following which spot Bitcoin ETFs in the U.S. saw massive inflow. In fact, Bitcoin holdings of BlackRock ETF surpassed Grayscale’s GBTC.

“Many have asked us to run our trading signals for crypto-related stocks, such as Bitcoin miners, and diversified crypto stocks, such as Coinbase. Not every trading signal will be successful, but generally, with a 70-80% probability, they provide us with timely reminders when a dull trading range might end” he added.

GBTC flashed a buy signal on Friday, similar to past events that saw massive buying. After the GBTC saw inflows this week, it has renewed bullish sentiment for Bitcoin price, coupled with cooling CPI inflation in the U.S. Moreover, the trading signals for GBTC should also be effective for the newer ETFs such as BlackRock’s IBIT. This could give institutional investors and analysts a clue as to where the price of Bitcoin might be going.

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Also Read: Binance Pushes For SHIB, USTC, AGIX Liquidity and Trading Boost

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Bitcoin Price to Rally?

BTC price surpassed $67,000 this week amid bullish sentiment, with a weekly run of more than 10%. The 24-hour low and high are $66,289 and $67,459, respectively. Moreover, the upsurge amid low trading volumes indicates whales and big investors turned bullish on Bitcoin, along with the short liquidation of high-leveraged positions.

CME Bitcoin futures open interest saw a 5% increase in the last 24 hours, indicating huge buying from futures traders. The total BTC futures open interest soared by 2% in the past 24 hours.

Another popular analyst Rekt Capital predicts Bitcoin price only needs to drop 1% to perform the post-Bull Flag breakout retest attempt in an effort to secure trend continuation to the upside.

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Also Read: BlackRock CIO Hints At Fed Rate Hike But There’s A Positive Note

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.