Bitcoin prices climbed to $65,000 on July 16 after concerns about the German government selling bitcoins eased. Still, there are concerns that the price could fall to $58,000 after Mt. Gox began moving $6 billion worth of bitcoins from its cold wallets to other addresses.
Market analysts believe that Bitcoin's "post-halving" growth trajectory is still continuing. Data from FalconX Research shows that the Coinbase Premium Index has turned positive, indicating that spot buying activity on Coinbase Pro is increasing, which may indicate that Bitcoin prices will rise further.
In addition, the continued inflow of funds into Bitcoin investment products also supported the market's optimistic expectations. According to data from Farside Investors, the inflow of US spot Bitcoin ETFs hit a new high in the past week, totaling $16.11 billion.
Analysts believe that as demand from institutional investors increases, the price of Bitcoin is expected to continue to rise. Market strategist Juan Leon pointed out that in the six months since the launch of the Bitcoin ETF on January 11, the inflow of funds exceeded the sovereign capital inflows of any country in the second half of 2023.
