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Binance CEO Provides Key Insights On Bitcoin ETF
Gamza Khanzadaev
Investors Show Real Interest in Bitcoin ETFs Despite Recent Price Drops, Says Binance CEO Richard Teng
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High-profile figures in the cryptocurrency industry highlight continued investor interest in Bitcoin despite recent price fluctuations, Binance CEO Richard Teng he said in a new post by X. As evidence of this continued interest he pointed to the significant inflows into U.S.-listed stocks Bitcoin ETFs.
Over the past six months, these ETFs have attracted over $14.7 billion in net inflows, highlighting strong investor confidence in BTC and digital assets in general.
Teng’s findings are in line with recent Bloomberg data showing that investors have seen the recent price decline as a buying opportunity. Over the past two days, U.S. Bitcoin ETFs have seen a net inflow of $438 million.
This trend indicates a bullish sentiment among investors, who remain optimistic about the long-term outlook despite the market being shaken in the short term.
Bitcoin (BTC) Price Outlook
Since the beginning of June, the price of Bitcoin fell by about a quarter, mainly due to concerns over potential token sales by Mt. Gox creditors and sales by the German government.
BTC to USD via CoinMarketCap
However, Bitcoin has managed to gain 3% since Tuesday, reaching $57,600. Despite this rebound, it remains significantly below its all-time high set in March.
The steady inflows into ETFs and the recent price recovery highlight that while prices and market capitalizations fluctuate, the long-term outlook for BTC remains positive. Industry leaders including Teng advocate maintaining focus and resilience in building the digital asset ecosystem, outlining the principle of long-term fundamentals over short-term price movements.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated with a degree in finance and credit with a focus on securities and financial derivatives. He then completed a master’s degree in banking and asset management.
He wants to contribute to the discussion of economic and fintech topics, as well as inform more people about cryptocurrencies and blockchain.