Bitcoin looks far from overbought as ‘stars are aligned’ for ETF surge

Bitcoin is not in overbought conditions and is on a stable upward trajectory, having reached over $126,000 on Monday. Analysts note it is halfway through its four-year price cycle and the current technical indicators reflect balanced momentum. The 30-day moving average is under $116,000, suggesting a steady trend without volatility. The recent upward trajectory of Bitcoin suggests it is in a critical window that could lead to significant bull markets. Bitwise's Chief Investment Officer, Matt Hougan, predicts that inflows into Bitcoin ETFs will surge in Q4, potentially exceeding last year’s record of $36 billion. He pointed out that higher Bitcoin prices often attract more ETF investments as attention from media and investors increases. Furthermore, the ability of wealth managers to engage with Bitcoin ETFs is improving, as illustrated by a recent Morgan Stanley report, which allows advisors to allocate funds into cryptocurrency for their clients. With a strong start in Q4, analysts believe achieving significant inflows is feasible and necessary for setting new records.

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