Predictions from Santiment Indicate #Bitcoin #ETF Trades Will Remain Strong Prior to Halving

It is anticipated that spot Bitcoin ETF flows would remain elevated until the forthcoming Bitcoin halving event.

High ETF activity is expected to persist until the Bitcoin halving, according to on-chain analytics company Santiment.

The on-chain analytics company Santiment has predicted that spot Bitcoin ETF flows would be rather strong right up to the next Bitcoin halving.

After Bitcoin hit a new all-time high in the middle of March, Santiment noted that the volume of Bitcoin ETF has not decreased. Since individual trading started to surge in late February, the business has also seen that trader activity has remained much higher.

It is anticipated that the Bitcoin halving event will take place in around two weeks, and Santiment further anticipates that the strong ETF activity will likely persist until then. As is customary every four years, April 20 is when Bitcoin is expected to undergo its halving event.

Daily volume among the top seven ETFs has been $3.19 billion, according to Santiment. It remains to be seen, however, if the number of ETFs and on-chain transactions immediately follows.

Spot Bitcoin ETF activity almost tripled from February to March, reaching $111 billion. This exemplifies the unwavering fascination with these items.

Towards the week's close, inflows into Bitcoin ETFs increased, with a net inflow of almost $200 million on April 4 and 5. On April 1, there was an outflow of $85.7 million, which followed a couple of days of poor activity earlier in the week.

Since converting to a spot ETF in mid-January, Grayscale has consistently pulled down the aggregate data with daily withdrawals, despite the large inflow. The firm's GBTC fund lost $738 million last week, for a grand total of 294,313 BTC lost from the product.

The crypto sector continues to inspire optimism from Ripple CEO Brad Garlinghouse. He forecasted that spot ETFs and the Bitcoin halving would lead to a doubling of the overall market value of cryptocurrencies this year.

$BTC