The demand for Bitcoin via Spot ETF is fluctuating due to inflation concerns, despite a slight decline in May 2024, with US inflation at 3.3%. Economic forecasts suggest a slower-than-expected decrease in inflation, affecting BTC demand.

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

This trend has impacted Bitcoin’s value, which has dropped to $66,972.67, reflecting a 0.805% decline in the last 24 hours and a 5.895% decrease over the past week. Both market cap and 24-hour trading volume have fallen by 25.64%. However, near-term predictions remain strong, with an anticipated surge to $87,293 within 30 days, marking a 30.07% increase. In the next 5 days, BTC might exceed $76,000.

Technical indicators show a bearish sentiment, with 2.33% volatility and a Fear & Greed Index score of 74. Bitcoin has traded positively for 50% of the past 30 days. The market is diversifying into altcoins, with some attention shifting to Spot Ether ETFs as well.

Bitcoin remains in the spotlight, with a 14-day RSI of 45.47, and 50-day and 200-day SMAs at $65,842 and $55,617, respectively. Short-term sentiment is bearish, but a longer-term surge is predicted. The immediate support level is $65,000; falling below this could lead to further declines, while maintaining current levels could validate the bullish predictions.

There are mixed strategies regarding Bitcoin: some investors are accumulating at lower prices, while others are waiting for further drops. It's advisable to conduct thorough research and risk assessment before investing in Bitcoin or any other cryptocurrency.

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