CandleFocus Bitcoin is poised for a bullish reversal
2024-10-14
Author: Content Editor
The net inflows for US bitcoin ETFs have turned positive for the first time this month, with $348.5 million of inflows recorded at the end of the week. This is seen as a potential indicator of directional trends for bitcoin prices. Bitcoin is up 5% today, nearing its daily high set on September 28. The surge in venture capital-backed cryptocurrencies is seen as a signal of confidence in institutional adoption of blockchain technologies. Ethereum's decentralization preservation has improved for solo stakers since the Dencun hard fork in March 2024. Ethena Labs Research has proposed onboarding SOL as a backing asset to its synthetic stablecoin USDe.
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