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Why isn’t the BTC price moving despite billions in ETF inflows?
Spot Bitcoin ETFs in the United States have just notched their 19th day of inflows. Traders explain why it hasn’t led to a surge in the price of Bitcoin.
As of June 6, spot Bitcoin BTC tickers down $71,724
ETFs around the world held around 1.3 million Bitcoin or 5.2% of BTC circulating supply, with a big chunk of that held by the U.S. listed ETFs, according to HODL15Capital.
However, analysts say many other factors impact the price and that the ETFs don’t have enough clout.
