Summary
- It reported that an analysis found an outflow trend in U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs).
- It reported that, according to Glassnode, the 7-day simple moving average of ETF fund flows turned negative, resulting in daily net outflows of about 200–500 BTC.
- It said Glassnode assessed that while the absolute size of outflows is not large, it is a signal that institutional investor demand remains weak at current price levels.
Forecast Trend Report by Period
An analysis suggests that U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) are seeing an outflow trend.
According to Glassnode on the 31st (local time), the 7-day simple moving average of ETF fund flows turned negative from early last week, with daily net outflows of roughly 200–500 BTC.
Glassnode said, "The absolute size of outflows is not large, but a persistent trend is being observed," adding that it is "a signal that institutional investor demand remains weak at current price levels."
This trend indicates that institutional inflows are slowing even as Bitcoin prices hold at a certain level.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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