Bitcoin - Review from August 27, 2024

Financial and commodity markets analytics


BlackRock's Bitcoin fund (ETF) recorded the largest daily inflow in the last 35 days

which may be related to buyers using a local drop in quotes below $64,000 after a recent rally, with the aim of accumulating positions to buy.

At the moment, technically, the decrease indeed looks like a correction. This does not mean that the price should start growing immediately, however, if buyers manage to confidently hold the market above $60,500, there is an extremely high probability of resuming growth in the direction of the $68,000 mark.