Summary
- Inflows into Bitcoin (BTC) spot ETFs have decreased, threatening the key $107,000~$108,000 support level.
- They said that after President Donald Trump's tariff announcement, US-based Bitcoin spot ETFs experienced total net outflows of $1.23 billion.
- Weakening institutional buy-the-dip demand and slowing ETF inflows suggest a possible long-term correction, but some experts maintain year-end Bitcoin rebound forecasts.
As inflows into Bitcoin (BTC) spot exchange-traded funds (ETF) cool, warnings have emerged that Bitcoin could lose support in the $107,000~$108,000 range.
On the 22nd (local time), Cointelegraph reported that Bitfinex analysts said, 'With institutional accumulation weakening, it is becoming difficult to support the $107,000~$108,000 range,' and 'After President Donald Trump's tariff announcement, spot ETFs experienced net outflows of $1.23 billion.'
According to Pasaide Investor, from October 13 to 17, US-based Bitcoin spot ETFs saw total net outflows of $1.23 billion. Bitcoin fell 3.36% over the past month, and earlier in the week it topped $113,000 before slipping back below $110,000.
Bitfinex warned in the report, 'Current ETF fund flows show that institutional buy-the-dip demand has disappeared,' adding, 'If ETF inflows do not recover, demand-side anxiety will increase.' It continued, 'Sustained institutional buying was a key driver of past Bitcoin rallies,' and 'If this trend is broken, the market is likely to enter a long-term corrective phase.'
However, the overall market outlook still places weight on the possibility of a rebound within the year. Recently, Arthur Hayes, co-founder of BitMEX, and Tom Lee, chairman of Bitmine, predicted that Bitcoin could reach $250,000 by the end of the year.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
