Editor's PiCK
"Bitcoin: Still Positive Despite Lower Price Increase Relative to ETF Inflows"
Summary
- Despite $11.2 billion of inflows into spot Bitcoin ETFs, Bitcoin's price increase was limited to just 10%%.
- Matrixport noted that some investors are showing selling activity, but emphasized the bullish scenario is still valid.
- It was also analyzed that spot Bitcoin ETFs have had almost no capital outflows and that new market entrants are increasing.
Bitcoin (BTC)'s price increase has been limited compared to spot Exchange-Traded Fund (ETF) inflows, but analysts note that the bullish scenario is still intact.
On the 17th (local time), Matrixport stated in a report, "Over the past eight weeks, spot Bitcoin ETFs have seen inflows of $11.2 billion, yet Bitcoin has risen only 10%," adding, "This could signal that some investors are selling Bitcoin despite the upward trend."
However, the report went on to say, "Nevertheless, the bullish scenario for Bitcoin remains valid," and attributed this to "the continued emergence of companies steadily accumulating Bitcoin." It further added, "Recently, spot Bitcoin ETFs have seen almost no capital outflows. Rotational trading is occurring among a diverse range of investors," and "this may be evidence that new entrants are gradually increasing in the market."
As of 4:39 PM, based on Binance USDT market data, Bitcoin was trading at $106,648, down 0.35% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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