Bitcoin Demand and Price Analysis Post-US Election

US BTC-Spot ETF Inflows Impact BTC Demand

Following the recent US presidential election and the Federal Reserve interest rate decision, the focus now shifts to the impact on Bitcoin demand. Inflows into the US BTC-spot ETF market surged, reflecting investor optimism in BTC potentially becoming a strategic reserve in the US. This influx of capital could significantly affect the supply and demand dynamics for Bitcoin in the market.

Key Inflows in the US BTC-Spot ETF Market:

• Recent data shows Fidelity Wise Origin Bitcoin Fund (FBTC) attracting a notable $190.9 million in net inflows.
• Grayscale Bitcoin Mini Trust (BTC) also saw strong investor interest with $108.8 million in net inflows.
• Bitwise Bitcoin ETF (BITB) and ARK 21Shares Bitcoin ETF (ARKB) had inflows of $13.4 million and $17.6 million, respectively.

Combined, excluding certain funds, the US BTC-spot ETF market received a total of $253.9 million in net inflows.

Bitcoin (BTC) Price Movement

Bitcoin experienced a 0.80% increase on Thursday, adding to its recent winning streak that now spans three sessions. After a significant breakout the day before, BTC closed at $75,777, showcasing continued strength in the market.

Market analysts are closely watching the impact of the upcoming Michigan Consumer Sentiment data and Federal Reserve speeches on BTC demand. Positive sentiment and support for further rate cuts could propel BTC towards $80,000. Conversely, a more cautious approach post US election results may lead to a dip, possibly testing the $70,000 level.