The demand for Bitcoin through Spot ETFs is fluctuating due to concerns about rising inflation, despite a slight decline in May 2024, with the US inflation rate at 3.3%. Economic forecasts suggest a further decrease, but at a slower rate than anticipated, impacting BTC demand.

Recently, Spot Bitcoin ETFs experienced a total net outflow of $226.21 million, with a net asset ratio of 4.45%. Fidelity’s FBTC saw an outflow of $106.4 million on June 13, 2024, and Grayscale’s GBTC had a net outflow of $61.5 million.

This trend has negatively affected Bitcoin’s value, which has dropped to $66,972.67, a 0.805% decrease in the last 24 hours and a 5.895% decrease over the past week. Additionally, the 24-hour trading volume fell by 25.64%. Despite these declines, short-term predictions remain optimistic, with expectations of a surge to $87,293 within the next 30 days, a potential increase of 30.07%. In the next 5 days, Bitcoin could reach $76,000.

Technical indicators show a bearish sentiment, with volatility at 2.33% and the Fear & Greed Index at 74. Bitcoin has seen positive trading for half of the last 30 days. The market is diversifying into altcoins and Spot Ether ETFs are gaining attention.

Bitcoin's spotlight, though diminished, persists. The 14-day RSI is around 45.47, with the 50-day and 200-day SMAs at $65,842 and $55,617, respectively. Short-term sentiments are bearish, but a bullish outlook is predicted over the next 30 days.

An immediate support level is at $65,000; falling below could lead to further declines. Sustaining current values could validate predictions.

Opinions on Bitcoin vary: some investors aim to buy at lower prices, while others await further drops. It is advisable to conduct thorough research and risk assessment before investing in Bitcoin or any cryptocurrency.

Ethereum maintains neutral sentiments, expected to remain stable for the next 30 days, with a potential small increase of 2.49% from its current value of $3,568.82.