Bitcoin ETF fund inflow slows down, price fluctuates in the short term but is optimistic in the long term
Recently, the inflow of funds into Bitcoin ETFs has slowed down, while the outflow of funds from Grayscale Bitcoin Trust has accelerated, showing that the market's initial enthusiasm for spot Bitcoin ETFs seems to be fading. According to statistics, as of a certain date, the overall net outflow of Bitcoin ETFs was a considerable amount of Bitcoin, among which the inflow of funds of a well-known Bitcoin fund even dropped to zero, breaking the trend of continuous increase.
At the same time, the price of Bitcoin has also suffered a decline recently. From a technical point of view, after falling below the key support level of $64,900, Bitcoin further fell below the 50-day moving average, showing downward pressure in the short term. In addition, according to analysts, the next important support level of Bitcoin is at $57,800. If this level is broken, the price of Bitcoin may fall further to around $51,500. The data of these support levels provide a reference for investors and also reflect the market's short-term view on the price of Bitcoin.
However, despite the downward pressure on Bitcoin in the short term, analysts generally believe that as large global financial institutions begin to consider strategic allocation of Bitcoin through newly launched ETFs, fund inflows are expected to increase again in the future. These institutions are conducting due diligence, and once they decide to invest, they may bring significant capital inflows, making the Bitcoin ETF one of the most successful ETF issuances in U.S. history.
In addition, Bitcoin is about to usher in an important "halving" event, which is a cyclical phenomenon in which Bitcoin mining rewards are halved, which is generally seen as a catalyst for Bitcoin price increases. Therefore, despite the short-term fluctuations in Bitcoin prices, long-term investors remain optimistic about it and look forward to its future growth potential.
