(2BTC) 21Shares Bitcoin ETP - Ratings and Ratios

The 21Shares Bitcoin ETP (XETRA:2BTC) is a German-based exchange-traded product that offers investors exposure to Bitcoin, a leading digital asset. As a product listed on the XETRA exchange, it provides a regulated and transparent means for investors to participate in the cryptocurrency market.

From a technical analysis perspective, the recent price action of 2BTC indicates a bullish trend, with the short-term Simple Moving Average (SMA20) at 27.73 and the long-term SMA200 at 25.71, both of which are below the current price of 31.10. The Average True Range (ATR) of 1.01, representing a 3.24% daily volatility, suggests moderate price fluctuations. Given the 52-week high and low of 34.37 and 16.69, respectively, the current price is near the upper end of its recent range, indicating a relatively strong performance.

Fundamentally, the 21Shares Bitcoin ETP has an Assets Under Management (AUM) of 164.72M EUR, signifying a substantial investor base and liquidity. This level of AUM is a positive indicator of the products viability and attractiveness to investors seeking exposure to Bitcoin.

Combining technical and fundamental insights, a forecast for 2BTC can be derived. With the current bullish trend and moderate volatility, as indicated by the technical data, and considering the substantial AUM, a potential short-term target for 2BTC could be near its 52-week high of 34.37. However, a break above this level could signal further upside potential, driven by continued investor interest in Bitcoin exposure through regulated products like the 21Shares Bitcoin ETP. Conversely, a decline below the SMA50 at 26.72 could indicate a reversal in the bullish trend, potentially leading to a retest of lower support levels.