According to glassnode Bitcoin ETF flows & insurance exchange Netflow 7 day moving average the ETFs had significant net inflow peaks $353 & 431 million per day in February and march . As $BTC price fell to a low of roughly $57,500 the ETFs experienced a significant net outflow peak of $148 million per day .
This move served as form of micro capitulation and this tendency has reserved significantly . Last week observed inflow if $242 million per day indicating resurgof buy side interest .
Since miner's natural daily sell pressure has been $32 million per day since the halving the ETFs buying pressure is nearly eight time more . This implies increasing demand and decreasing insurance of BTC would positively affect its price.
