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Bloomberg Analyst: Bitcoin ETF Attracts Another $500 Million in a Single Day; Spot Prices Have Risen 12% Since the Start of the Middle East Conflict
Svmuu News: Eric Balchunas, a senior ETF analyst at Bloomberg, posted on X that the Bitcoin ETF saw another $500 million in inflows in a single day, with 10 out of 11 U.S. Bitcoin ETFs attracting investor interest.Furthermore, since the escalation of the Middle East conflict, the Bitcoin has risen by approximately 12%, while gold has declined over the same period.This performance has sparked market discussions regarding the safe-haven attributes of both assets, as it is relatively rare for Bitcoin to strengthen while gold declines. It has also led some investors to rethink the roles of traditional “safe-haven assets” and “digital gold.” Does this mean that gold has failed to serve as a safe haven in the current environment, or does it conversely suggest that Bitcoin is gradually assuming some of the functions of a safe-haven asset?However, long-term market opinions remain divided. Some analysts believe that gold remains the primary safe-haven asset during traditional times of crisis, while the market performance of Bitcoin tends to be more volatile.
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