- The upward price trend of Bitcoin in late May to early June 2024 -
coincides with significant ETF netflow, suggesting increased
investment and activity in Bitcoin ETFs.
- The large net flows might be a contributing factor to the rising price,
as substantial inflows generally indicate increased buying interest.
- The timing of these net flows (around May 24) aligns with key points
in the price chart, supporting the idea that ETF activity is influencing
market prices.
- We saw the same activity in Bitcoin ETF netflows on June 5,
indicating that institutions are still interested in buying Bitcoin.
Observations:.
The charts suggest a strong correlation between Bitcoin ETF netflow and the price movement of Bitcoin. Increased ETF netflow likely contributed to the upward price trend observed from late May to early June 2024.
Written by Amr Taha
