- Last week, approximately $3.1 billion flowed into Bitcoin Spot ETFs, suggesting that Bitcoin may have reached a short-term peak.
- The large inflow into Bitcoin spot ETFs does not necessarily indicate an unconditional trend reversal, and it was noted that there were significant corrections after past increases.
- An analyst from AlphaBTC stated that continuous ETF demand could enable Bitcoin to reach $100,000, but there is a high possibility of a significant correction afterward.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Last week, approximately $3.1 billion flowed into Bitcoin (BTC) spot exchange-traded funds (ETFs), suggesting that Bitcoin may have reached a short-term peak.
On the 28th (local time), Cointelegraph reported, "Last week, $3.06 billion flowed into Bitcoin. This is the largest amount since December last year," but also stated, "The large inflow into Bitcoin spot ETFs does not necessarily indicate an unconditional trend reversal." It added, "This is one of the factors suggesting a short-term peak."
The media pointed out that after past increases in Bitcoin spot ETF inflows, there were significant corrections. According to the data, on March 12 and June 3 last year (local time), the daily inflow into Bitcoin spot ETFs was $1 billion and $917 million, respectively. Afterward, Bitcoin rose, forming a short-term peak, and then fell by more than 20%. It continued, "Large spot ETF inflows occurred before a short-term peak."
A similar analysis was also presented. An analyst from AlphaBTC stated on X (formerly Twitter), "Continuous demand for Bitcoin spot ETFs could achieve a $100,000 reach," but also assessed, "There is a high possibility of a significant correction after $100,000."
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