The Bitcoin parabola broke, leading some analysts to predict an 80% drawdown in BTC price. Will growing demand from traditional finance and strategic crypto reserves nullify all bearish predictions? Bitcoin (BTC) price is under scrutiny again as veteran trader Peter Brandt is cautioning that BTC has violated its parabolic trendline, a technical feature that preceded deep drawdowns in previous bull markets. While the signal is bearish, the current market structure reflects a key difference from previous market cycles. Key takeaways: Peter Brandt said that Bitcoin has broken its current parabolic advance, a bearish signal that has previously led to drawdowns of more than 80%. Read more
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Bitcoin and Ether accounted for the largest allocations, while short-Bitcoin products posted net outflows, according to CoinShares data. Crypto exchange-traded products (ETPs) recorded about $864 million in inflows last week, according to a report on Monday by European digital asset manager CoinShares. The United States led regional inflows with about $796 million, followed by Germany with roughly $68.6 million and Canada with about $26.8 million. Together, the three countries account for approximately 98.6% of year-to-date (YTD) inflows into digital asset investment products. Switzerland-listed crypto ETPs recorded about $41.4 million in weekly outflows, while YTD net flows were about $622.4 million, according to the data. Read more