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Significant Outflow Sign of Bitcoin ETF, Pompliano: Even though BTC Price is Already Cheap**
Spot Bitcoin ETF products in the United States recorded an outflow of funds amounting to US$1.17 billion in the last five days. This marks the longest period since April when the price of Bitcoin was still around US$79,625.
Nevertheless, crypto entrepreneur Anthony Pompliano believes that the current conditions actually open up opportunities. In his interview with CNBC, he stated that at the level of US$112,000 to US$113,000, Bitcoin appears to be very cheap.
Pompliano added that entering September and October, after the momentum of the April 2024 halving, buying activity tends to increase. According to him, when people believe that the end of Q3 and the beginning of Q4 are good moments, they usually start to act more actively.
Despite being optimistic, Pompliano doubts that Bitcoin can reach US$1 million in this cycle. However, he believes that this target remains achievable in the future, especially if the market reacts positively to the Fed's interest rate cut plans on September 17.
*Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).*
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