Although the long-term prospects for Bitcoin seem bright, its positive correlation with the altcoin industry suggests a rising confidence in the altcoin sector.
The case against Durov has drawn significant public and media attention, partly due to his reputation as a staunch advocate of privacy and freedom of expression.
So far in 2024, US spot Bitcoin ETFs have had $17.95 billion flow into them.
Bitcoin traders who anticipated further bullish trends based on last week’s dovish comments from the US Federal Reserve were liquidated earlier today.
Polymarket data shows a 78% chance of release before October, with shares trading at 78 cents, promising a $1 USDC payout if predictions are correct.
Several technical indicators combined with fundamental aspects have shown that Ethereum price has low midterm bullish sentiment.
The eight-day streak in net inflows is a strong indicator that investors are increasingly viewing Bitcoin ETFs as a strategic addition to their portfolios.
With the ongoing EU focus on regulating big tech, Durov’s arrest could push Telegram into a more collaborative stance with government regulators, something the company has fiercely resisted until now.
This was the highest net inflow recorded by the funds in a single day since July 23.
Bitcoin has made a comeback, especially after falling below $50,000 in the first week of August.