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ETF Volumes Surge to $3.62 Billion Amid Bitcoin’s Sideways Trend

The Bitcoin halving event on April 19th has spurred divergent perspectives within the cryptocurrency community. As per Santiment, a top analytic firm, historical trends post-halving suggest a bullish sentiment. Despite the sideways movement of the market for the past 5 weeks, the Bitcoin ETF reached its daily highest collective volume of $3.62 Billion in 4 weeks. 

The trajectory towards Bitcoin’s reaching heights like $75K or $100K is nuanced, resting heavily on the behaviors of major investors, the movement of dormant coins back into circulation, and the balance of profits and losses within the network.

In the aftermath of the halving, the landscape of Bitcoin and associated markets has become a subject of intense scrutiny. On-chain indicators and social metrics are being closely monitored by traders eager to decipher the future direction of cryptocurrency markets. A key area of interest is the performance of Bitcoin exchange-traded funds (ETFs), which have seen significant activity in recent weeks.

As further highlighted by Santiment, despite sideways movement in the markets over the past five weeks, ETF volumes remain robust, underlining confidence in the broader cryptocurrency sector. Notably, U.S. spot bitcoin ETFs experienced a daily net outflow of $120.64 million, reflecting a mixed sentiment among investors. Grayscale’s GBTC saw a substantial outflow, contrasting with inflows into funds from Fidelity and Ark Invest.

Technical indicators like the TD Sequential signal caution, with Bitcoin encountering resistance within a parallel channel. The price of Bitcoin today stands at $64,284.27, down 3.73% in the last 24 hours. The 1-Day RSI at 45.91 indicates a balanced market, suggesting potential for movement in either direction. Meanwhile, the MACD showing a bearish trend prompts traders to watch closely for signs of reversal.

Bitcoin/USD 1-Day price chart, Source: Trading view

Historical patterns indicate that the next bull market peak could occur between mid-September and mid-October 2025, around 518-546 days after the halving. This forecast underscores the importance of long-term strategic planning in the volatile cryptocurrency landscape.

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