The Bitcoin ETF market began the week positively, with more than $237 million inflows recorded by all eleven spot Bitcoin ETFs on Monday, May 20. In the past 24 hours, the Bitcoin price has also surged by 7%, soaring all the way up to $72,000 amid favorable developments surrounding the spot Ethereum ETF approval. On the other hand, WienerAI stands at the forefront of crypto innovation, harnessing the power of predictive technology alongside an intuitive AI interface to unlock hidden opportunities within the crypto market.
With the ever-expanding landscape of digital assets, navigating the plethora of investment options can be daunting. However, WienerAI simplifies this process by offering a sophisticated yet user-friendly platform that empowers users to identify lucrative trades with ease.
Bitcoin ETF Inflows Exceed Daily BTC Mined
On May 20, Bitcoin spot ETFs witnessed a significant net inflow totaling $241 million, according to data from Farside Investors. Conversely, ETF GBTC received $9.35 million in a single day, despite the news of Grayscale CEO Michael Sonnenshein stepping down from his position. This marked the fifth consecutive day of GBTC recording net inflows. Moreover, the ETF ARKB, managed by Ark Invest and 21Shares, attracted $68.28 million, while BlackRock’s ETF IBIT saw inflows of $66.35 million.
The recent daily inflows into spot Bitcoin ETFs are nearly 6-7 times the daily BTC supply generated through mining. On May 20, 2024, Bitcoin ETFs acquired over 3,400 BTC, significantly outpacing the daily mining rate of 450 BTC.
This contributed to the final U.S. Bitcoin ETF inflows of $235 million for the day, translating to 3,518 BTC against a weekly mining total of 3,150 BTC, according to data from HODL15Capital. Interestingly, the Hong Kong Bitcoin ETFs were also the net buyers on Monday.
Bitcoin (BTC) Price Poised for Rally to $100?
Institutional interest in Bitcoin is once again soaring, with the Bitcoin investment products witnessing over $932 million worth of inflows last week. Meanwhile, At the present moment of writing, Bitcoin’s trading price stands at $71,090.
As reported yesterday, the Bitcoin price has been consolidating for weeks within the range of $60,000-$70,000. This presented investors with a prime opportunity to accumulate Bitcoins before the pre-halving rally commences.
According to data from CryptoCon, Bitcoin remains on course for a layer 7 price target of $149,000 by the end of 2024. This projection is based on the Log Regression Curves, renowned for their accuracy in predicting the 2021 cycle tops. A more moderate layer 6 target, which aligns with the 2013 cycle top, estimates Bitcoin reaching $108,000 by year-end.
WienerAI’s Advanced Predictive Technology
By leveraging WienerAI’s predictive technology, users gain access to comprehensive market analysis that provides valuable insights into emerging trends and potential investment opportunities. Whether you’re a seasoned trader or new to the crypto space, WienerAI equips you with the tools and information needed to make informed decisions and optimize your trading strategy.
One of the key advantages of WienerAI is its seamless integration with decentralized exchanges, offering users the ability to execute trades without the constraints of Maximum Extractable Value (MEV). This ensures a fair and transparent trading environment, free from the manipulation often associated with centralized exchanges.
Staking and Trading Platform
To get started with WienerAI, simply connect your MetaMask or preferred wallet using the intuitive widget provided on the platform. From there, users can easily acquire $WAI tokens using a variety of cryptocurrencies such as ETH, BNB, MATIC, USDT, or even a bank card, providing flexibility and accessibility to users worldwide. Moreover, once you’ve funded your purchase, you can seamlessly swap tokens for $WAI directly within the platform. With transactions authorized through your wallet, users can rest assured that their assets are secure throughout the process. Additionally, WienerAI offers the option to stake $WAI tokens, allowing users to earn passive income through the platform’s high Annual Percentage Yield (APY).
WienerAI is not just a trading platform; it’s a gateway to the future of crypto trading. With its advanced predictive technology and user-centric approach, WienerAI empowers users to navigate the crypto market with confidence and precision, unlocking the full potential of their investments. Join WienerAI today and embark on a journey towards financial freedom and success in the world of cryptocurrency.
