Bitcoin grabs attention with its recent price action. Spot bitcoin ETF recently saw a massive surge, however, the BTC price remained restricted to the $96,000 level. While experts anticipated a rapid ascent to the $100,000 mark, the BTC price actions, despite the Spot Bitcoin ETF surge, have left analysts perplexed. Dogecoin (DOGE) and DTX Exchange (DTX) experience a massive inflow of money as they continue attracting investors!
Spot Bitcoin ETF Inflows Surge 90%
Inflows into U.S. spot Bitcoin ETFs surged by over 90% on Dec. 3 compared to the previous day, bringing their total holdings closer to matching the Bitcoin stash attributed to founder Satoshi Nakamoto. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $675.97 million inflows on Tuesday, nearly doubling the $353.67 million seen earlier.
These investment vehicles have now enjoyed four consecutive days of net inflows, totaling over $1.45 billion within that span. BlackRock’s IBIT led the pack for the third consecutive day, with $693.25 million in inflows to the fund. Notably, BlackRock’s spot Bitcoin ETF achieved a significant milestone last week, surpassing 500,000 BTC in its holdings.
It now accounts for 2.38% of Bitcoin’s total supply. However, not all ETFs were shared in the influx; ARK and 21Shares’ ARKB were the sole funds to report outflows, losing $93.47 million during the day. Despite the strong inflows, the total trading volume for these ETFs dropped to $2.93 billion, a significant decline from the $3.91 billion recorded the previous day.
BTC Price Stalls Despite Inflows
Interestingly, despite the surge in ETF inflows, BTC prices remained relatively flat. The flagship crypto asset rose by only 1.1% over the past 24 hours to trade at $96,517 at the time of writing, falling short of the highly anticipated $100,000 milestone.
This sideways trading suggests that while institutional interest in the BTC price trajectory continues to soar, the broader market remains cautious as investors await further catalysts to push the asset into uncharted territory.
The BTC price has registered a minor gain of 1.53% on the daily charts with a complete domination of green candles. BTC price was low at the beginning of the day with the coin trading at $95.04k, while the current trading price is $96,517.
Dogecoin (DOGE) Final Wave: Analysts See Potential For 4x Surge Soon
Based on past patterns, Bluntz further speculates that Dogecoin (DOGE) would witness a parabolic movement, maybe multiplying 4x during the last month of a bull run. He does observe, though, that only the most attentive “diamond handers” will catch the finest aspect of such a move.
Meanwhile, Dogecoin (DOGE) is trading at about $0.4221 at the time of writing, showing gains of 2.08% over the last 24 hours, 6.54% over the last 7 days, and 179.54% over the last 30 days.
The recent performance of Dogecoin (DOGE) fits a larger increase in meme coins following the U.S. presidential election last month. With Dogecoin (DOGE) outperforming Bitcoin and drawing major interest from traders, these internet-inspired cryptocurrencies have sharply increased in value.
Building on the trend, Dogecoin (DOGE) has attracted fresh interest from unusual sources. Elon Musk and Vivek Ramaswamy have revealed the “Dogecast” podcast, which aims to outline their attempts to cut U.S. government expenditures by $2 trillion under the recently formed Department of Efficiency (D.O.G.E.).
DTX Exchange’s $9.4 Million Presale Revenue Grabs Headlines
DTX Exchange has garnered significant attention by achieving $9.49 million in presale revenue. Designed as a peer-to-peer network, it emphasizes decentralization and user autonomy. This technical strategy aligns perfectly with the core principles of blockchain technology, minimizing risks associated with centralized security vulnerabilities.
Additionally, by enabling the tokenization of real-world assets, DTX opens up a multitude of opportunities for a wide range of modern traders with diverse profiles. DTX Exchange is a complete platform that has new tools for trading. These tools let traders make bigger trades and maybe earn more money.
The platform shows information right away with special charts and data, helping users make smart choices. With a strong focus on security, DTX Exchange is poised to attract retail traders, professional investors, and anyone seeking a novel trading experience. The DTX presale is currently in its sixth stage, with the token priced at $0.12.
Key Takeaways
Experts are astonished by the enormous rise in spot Bitcoin ETFs, although the BTC price has not changed significantly. On the contrary, a significant amount of money enters the DTX Exchange and Dogecoin (DOGE) due to the increasing popularity of these coins in the crypto realm.
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