💥💥💥 Is #Bitcoin’s Recent ETF Inflow Surge a Setup for a Fall? What Traders Need to Know
Bitcoin Faces Potential Risks Amid Record ETF Inflows
- Recent surge in exchange-traded fund (ETF) inflows has captured traders' and analysts' attention, reflecting increased institutional engagement in Bitcoin. Popular trader Skew highlighted potential risks despite this capital influx.
"Headline Curse" and Institutional Confidence
- Skew discussed the “headline curse,” noting that while over $500 million inflows into U.S. spot Bitcoin ETFs indicate growing institutional confidence, they may also signal an impending price correction.
Record High Bitcoin ETF Inflows Signal Market Shifts
- Significant inflows, such as the $526 million into BlackRock iShares Bitcoin Trust (#IBIT ) on June 22, often precede price sell-offs. Skew suggested these inflows occur at market supply zones, where sellers typically re-enter.
Key Indicators for Sustaining Bullish Momentum
- Skew emphasized maintaining bullish momentum through consistent passive spot bids, spot buyers leveraging price dips, and spot takers continuing to bid through supply barriers. Absorbing sellers is crucial for reaching new all-time highs.
Impending Sell Pressure
- Blockchain analytics firm Arkham Intelligence revealed the U.S. government transferred $3.96 million worth of seized Bitcoin to Coinbase. Additionally, the defunct exchange Mt. #Gox might resume Bitcoin sales, adding to potential sell pressure.
Market Outlook
- Bitcoin has maintained a price above $65,000, trading at $66,981 at the time of writing. The balance between institutional inflows and sell pressures will determine Bitcoin's short-term trajectory.
Source - newsbtc.com
