Bitcoin has once again surged above $71,000 as spot Bitcoin ETFs saw a record $15 million in net inflows. This exciting news is accompanied by the new all-time high reached by Stacks (STX) at $3.80, which has analysts feeling bullish about its potential. Another highly anticipated project, Bitcoin Dogs (0DOG), is also nearing its market launch and has already captivated the community with its first-ever ICO on Bitcoin.
In the spot Bitcoin ETFs market, there has been a shift in flows after a streak of net outflows. On Monday, March 25, the market saw net inflows of over $15 million, breaking a five-day streak of net outflows. While Grayscale’s GBTC continued to see outflows, the rest of the ETFs turned green. Fidelity’s FBTC had the highest single-day net inflows at $261 million, beating BlackRock’s IBIT at $35.48 million.
The turnaround in the ETF market coincided with Bitcoin’s price racing above $70,000. Last week, BTC saw a dip to lows of $60,000 as net outflows increased, with over $836 million in outflows recorded in the week leading up to March 21.
As Bitcoin continues to test levels above $71,000, analysts are optimistic about altcoins taking up fresh bids and potentially exploding in the coming weeks. Muneeb Ali, the CEO of Trust Machines and co-creator of Bitcoin L2 protocol Stacks, believes this is not the time to bet against Bitcoin. He shared his opinion via a post on Twitter, pointing to the highly anticipated BTC halving and the launch of new assets on Bitcoin’s L1.
As BTC reached above $71k, Stacks (STX) also hit a new all-time high of $3.80. The token’s price movements have closely mirrored those of BTC over the past year, soaring with the market rally in January and reaching a new high above $73k earlier this month.
Investors are eagerly anticipating the market debut of Bitcoin Dogs (0DOG), a project that raised over $13.4 million in its first-ever BRC-20 presale. With the emergence of NFTs, gaming, and DeFi on Bitcoin, experts predict that the BRC-20 ecosystem could reach a market cap of $500 billion in the next few years. The excitement surrounding Bitcoin Dogs suggests that its price could skyrocket on its trading debut, and there is potential for long-term traction as the Bitcoin L2 and BRC-20 token market grows.
After the successful token sale, Bitcoin Dogs has its sights set on listing on major exchanges and launching its game and NFTs. The project’s roadmap outlines these milestones, and the team has reassured presale participants that major announcements are on the horizon.
To learn more about Bitcoin Dogs, visit their website. Share this exciting news and stay updated on the latest developments in the world of Bitcoin.
