March 16, according to Onchain Lens data, a certain institutional address maintained high-leverage long positions amid market recovery, with unrealized profits exceeding $23.5 million. Their holdings include 70,000.7 ETH and 700 BTC, with recent new profits reaching $15.5 million.
Bitwise Chief Investment Officer Matt Hougan predicts that Bitcoin spot ETFs will accumulate approximately $60 billion in net inflows from January 2024 to October 2025. Despite a potential 50% decline in Bitcoin price, ETF net outflows would be less than $10 billion, indicating that institutional investors remain holding positions. Hougan believes that as a non-consensus asset, Bitcoin investment requires high conviction, and capital demonstrates greater "stickiness" during volatility. He anticipates Bitcoin could potentially reach $1 million within 10 years.
Gate News report indicates that on March 16, market data shows that the leading US-listed Ethereum treasury stock Bitmine (BMNR) rose more than 11% intraday, currently trading at $22.88.
Gate News Update: On March 16, according to Lookonchain monitoring, today's US cryptocurrency ETF fund inflows are as follows: Bitcoin ETF net inflow of 2227 BTC, Ethereum ETF net inflow of 11681 ETH, Solana ETF net inflow of 88561
