{"id":417232,"date":"2024-08-23T23:30:43","date_gmt":"2024-08-23T18:00:43","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=417232"},"modified":"2024-08-23T17:04:44","modified_gmt":"2024-08-23T11:34:44","slug":"bitcoins-latest-phenomenon-how-it-impacts-etfs-and-btcs-price","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitcoins-latest-phenomenon-how-it-impacts-etfs-and-btcs-price\/","title":{"rendered":"Bitcoin&#8217;s latest phenomenon &#8211; How it impacts ETFs and BTC&#8217;s price"},"content":{"rendered":"<ul>\n<li><em>Why has Bitcoin<span style=\"font-weight: 400;\">\u00a0been selling off right before and at every U.S. market open?<\/span><\/em><\/li>\n<li><em>Bitcoin and its ETFs are set to surge.\u00a0<\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\">Bitcoin&#8217;s [BTC]<\/a> recent phenomenon during the U.S. market open has caught the attention of traders and analysts.<\/p>\n<p>The king coin has been experiencing consistent sell-offs right before and during the U.S. market open, where prices initially pump to shake out shorts followed by a gradual decline to shake out longs, before the actual market move occurs.<\/p>\n<p>This pattern may be driven by factors such as pre-market trading, market sentiment, supply and demand dynamics, and the trading behavior of institutional investors.<\/p>\n<p>This phenomenon has notably impacted Bitcoin ETFs in the U.S.<\/p>\n<figure id=\"attachment_417254\" aria-describedby=\"caption-attachment-417254\" style=\"width: 1264px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_182525.jpg\"><img decoding=\"async\" class=\"wp-image-417254 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_182525.jpg\" alt=\"\" width=\"1264\" height=\"799\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_182525.jpg 1264w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_182525-300x190.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_182525-1024x647.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_182525-768x485.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_182525-1200x759.jpg 1200w\" sizes=\"(max-width: 1264px) 100vw, 1264px\" \/><\/a><figcaption id=\"caption-attachment-417254\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<h2><b>Bitcoin cumulative dollar return since ETF launch<\/b><\/h2>\n<p>Since the launch of these ETFs, Bitcoin\u2019s cumulative dollar return has shown a distinct pattern: it tends to decline when the NYSE is open and rise when the NYSE is closed.<\/p>\n<p>Traditional finance, now heavily involved in crypto markets, has likely contributed to this trend where the price movements of <a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\">Bitcoin<\/a> during market hours are influencing the performance of ETFs.<\/p>\n<figure id=\"attachment_417255\" aria-describedby=\"caption-attachment-417255\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_210032-scaled.jpg\"><img decoding=\"async\" class=\"wp-image-417255 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_210032-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1728\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_210032-scaled.jpg 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_210032-300x202.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_210032-1024x691.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_210032-768x518.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_210032-1536x1037.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_210032-2048x1382.jpg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_210032-1200x810.jpg 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-417255\" class=\"wp-caption-text\">Source: Velo Data<\/figcaption><\/figure>\n<h2><b>Bitcoin ETF flow &amp; daily trading volume<\/b><\/h2>\n<p>Bitcoin ETFs recorded $65 million in daily net inflows yesterday, marking the sixth consecutive day of inflows.<\/p>\n<p>This trend highlighted an increase in both net flow and daily trading volumes, with total net assets now reaching $55.13B.<\/p>\n<p>For instance, the BlackRock spot Bitcoin ETF ($IBIT) recently <a href=\"https:\/\/x.com\/blckchaindaily\/status\/1826375901988212836?t=Am6oEXl1pV4r23l-o6a7qw&amp;s=19\">recorded<\/a> a trading volume of $758 million, contributing to a total daily volume of $1.4 billion for ETFs, as Bitcoin Archive <a href=\"https:\/\/x.com\/BTC_Archive\/status\/1826590185817035177?t=IbDrPPe3oCWTJXHrAqUmRQ&amp;s=19\">noted<\/a> on X (formerly Twitter).<\/p>\n<figure id=\"attachment_417244\" aria-describedby=\"caption-attachment-417244\" style=\"width: 1036px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/GVp7v3MW0AAoCFW.jpeg\"><img decoding=\"async\" class=\"wp-image-417244 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/GVp7v3MW0AAoCFW.jpeg\" alt=\"\" width=\"1036\" height=\"969\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/GVp7v3MW0AAoCFW.jpeg 1036w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/GVp7v3MW0AAoCFW-300x281.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/GVp7v3MW0AAoCFW-1024x958.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/GVp7v3MW0AAoCFW-768x718.jpeg 768w\" sizes=\"(max-width: 1036px) 100vw, 1036px\" \/><\/a><figcaption id=\"caption-attachment-417244\" class=\"wp-caption-text\">Source: SosoValue<\/figcaption><\/figure>\n<p>This surge in trading activity has supported Bitcoin&#8217;s price, allowing it to retest key levels which means if a higher low is established around $67k, the king coin could continue its upward trend, targeting $70k.<\/p>\n<h2><b>Transaction volume comparison<\/b><\/h2>\n<p>Additionally, Bitcoin&#8217;s transaction volume also remained robust, with the network processing $36.6 trillion in 2023, surpassing both Visa and Mastercard combined.<\/p>\n<figure id=\"attachment_417256\" aria-describedby=\"caption-attachment-417256\" style=\"width: 1116px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_203557.jpg\"><img decoding=\"async\" class=\"wp-image-417256 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_203557.jpg\" alt=\"\" width=\"1116\" height=\"729\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_203557.jpg 1116w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_203557-300x196.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_203557-1024x669.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_203557-768x502.jpg 768w\" sizes=\"(max-width: 1116px) 100vw, 1116px\" \/><\/a><figcaption id=\"caption-attachment-417256\" class=\"wp-caption-text\">Source: Bitcoin Archive\/X<\/figcaption><\/figure>\n<p>However, ETF holders miss out on this direct participation in Bitcoin\u2019s transactional growth, as their holdings are tied to custodians and represented by paper shares.<\/p>\n<p>This limitation in ETF structures needs addressing, but it doesn\u2019t diminish Bitcoin\u2019s long-term prospects.<\/p>\n<h2><b>Bitcoin still outperforms stocks in year-to-date returns<\/b><\/h2>\n<p>Moreover, Bitcoin continued to outperform traditional stocks in year-to-date returns, with a 34% gain compared to NASDAQ\u2019s 20%.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Bitcoin\u2019s [BTC] Price Prediction<\/a>\u00a02024-25<\/p>\n<hr \/>\n<p>Although the gap has narrowed recently, the ongoing recovery in crypto markets suggests that Bitcoin&#8217;s future gains could be substantial, especially if more bullish drivers emerge.<\/p>\n<figure id=\"attachment_417257\" aria-describedby=\"caption-attachment-417257\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-scaled.jpg\"><img decoding=\"async\" class=\"wp-image-417257 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-scaled.jpg\" alt=\"\" width=\"2560\" height=\"2560\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-scaled.jpg 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-300x300.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-1024x1024.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-150x150.jpg 150w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-768x768.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-1536x1536.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-2048x2048.jpg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-80x80.jpg 80w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-100x100.jpg 100w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/08\/20240822_201400-1200x1200.jpg 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-417257\" class=\"wp-caption-text\">Source: Econometrics<\/figcaption><\/figure>\n<p>Despite a relatively quiet year, the early boost from the ETF launch and the potential for further market catalysts indicate that Bitcoin\u2019s price could rise significantly in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recent phenomenon during the U.S. market open and market catalysts indicate potential Bitcoin price surge.<\/p>\n","protected":false},"author":98,"featured_media":417328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[35,360,66,3,4,20],"tags":[6427],"class_list":["post-417232","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin-news","category-btc-trading-view","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin&#039;s latest phenomenon - How it impacts ETFs and BTC&#039;s price - AMBCrypto<\/title>\n<meta name=\"description\" content=\"A new phenomenon during the U.S. market open has had huge impact on Bitcoin&#039;s price and ETFs, but market catalysts indicate potential 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