Bitcoin (BTC) Investments Hit 3-Month High Amid Bullish Momentum

Bitcoin (BTC) Investments Hit 3-Month High Amid Bullish Momentum

  • More than $133.5 million in bitcoin has been added to the Terra Foundation’s holdings.
  • Bitcoin is up 1.43% in the last 24 hours.

On March 28, Bitcoin hit a high of $48,189, and an ascending parallel channel may have contained the whole movement. The nearest resistance would be located at $51,000 if the uptrend continues. The 0.5 Fibonacci retracement level and a long-term horizontal resistance region are located at this point. In addition, it’s just on top of the channel’s resistance line. On a daily time scale, technical indicators are positive. There is an upward trend in the MACD and the RSI indicators. Bullish trends are indicated by positive MACD readings and RSI readings over 70, both of which are now in play.

Substantial Inflows Witnessed

According to CoinShares statistics, inflows into digital asset investment products were USD 193 million last week, the highest amount since mid-December 2021. Furthermore, around 76% of the USD 147 million in new money came from Europe, while the Americans contributed only USD 45 million.

Ninety-eight million dollars were invested in Bitcoin (BTC), whereas 10 million dollars were invested in Ethereum (ETH). In contrast to the USD 17 million in outflows a week before, BTC had suffered withdrawals of USD 33 million from investment products. Solana (SOL) had the most significant weekly inflows, with USD 87 million. 

More than $133.5 million in bitcoin has been added to the Terra Foundation’s holdings. After discovering the Terra foundation’s wallet address earlier this year, OKLink revealed that it had $1.3 billion in Bitcoin. At the time of writing, the wallet has $27,784.96 Bitcoin. According to CoinMarketCap, the Bitcoin price today is $47,680.49 USD with a 24-hour trading volume of $35,227,000,089 USD. Bitcoin is up 1.43% in the last 24 hours.

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