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The largest cryptocurrency by market value, BTC, is holding above $63,000 with roughly half an hour left to the daily close. There is good news from the ETF channel a few minutes ago, and the outlook for the popular Solana competitor altcoin is positive. Perhaps this altcoin will test its all-time high in the coming days? So, will there be a general rise in cryptocurrencies?
Will Cryptocurrencies Rise?
If the data that came in a little while ago had been much above $169 million, ETFs would have experienced their first net outflow week. Such a poor weekly close could have spoiled Saturday and Sunday. Fortunately, GBTC outflows remained low. EZBC inflow is close to $30 million, and on Friday, we will see the first net inflow in ETFs after a four-day nightmare.
Considering the BlackRock ETF received $233 million on Thursday, it would be a big surprise if today’s net inflow is below the necessary $139 million. So, it is very likely that BlackRock alone will turn Friday from red to green. If it can do so on its own, this could mean an increase in investor risk appetite over the weekend, potentially setting the stage for further rises.
An on-chain expert known by the nickname anlcnc1 recently wrote the following about GBTC outflows;
“The sales on the GBTC side do not make this situation irrecoverable, but if we have to comment on the current state, yes, the overall weekly picture is clearly negative. However, the reason is GBTC sales, and at some point, these outflows will start to be met, as in previous weeks. But until they are met, the downward pressure on the Bitcoin price will continue, and I think everyone is now aware that this is the pressure on Bitcoin, so I have focused a bit more here and saw that the real problem is here.
Currently, aside from GBTC, we see reduced inflows and volumes in other companies. I had hoped that the Fed risk was gone and things would improve, but we see that there is only a slight improvement in Blackrock, and we cannot say the same for Fidelity. But we can probably say that the excitement has decreased, but it’s too early to say the story is over because some conditions that need to be met for us to say that have not yet occurred.”
APT Coin Price Prediction
The price of Aptos is about 20% below its all-time high of $19.92 and is finding buyers at $16.4. The current outlook for APT Coin is positive, aiming to surpass the $19.92 ATH region and target peaks above $20, with a positive reaction coming from $15.9.
The price, continuing the day with a 10% increase, could set new highs if it maintains its current position. However, if support is lost, there could be concerns about the price retreating to $13.6 and $12.16. The potential positive mood over the weekend could support the bullish scenario.
