Bitcoin ETF has seen net inflows for two consecutive days, the market may take a short-term breather but be wary of subsequent corrections
Recently, BTC prices have fluctuated around the $56,000 range, showing some signs of stability. The 11 Bitcoin spot ETFs in the U.S. market achieved a total transaction volume of $711 million in the past 24 hours. Although this figure is the third lowest since its launch, the trend of capital flows reveals positive signals. Specifically, these ETFs have continued to receive net inflows of funds in the past two days, showing investors' cautious optimism about the cryptocurrency market.
At the same time, Ethereum spot ETFs are not to be outdone, recording a net inflow of $11.4 million yesterday, further confirming the subtle changes in market sentiment. However, it is worth noting that investment activities in the primary market have slowed down recently, which may indicate that the market is undergoing a period of adjustment.
At the macro level, the cryptocurrency market seems to have found a temporary balance after experiencing violent fluctuations last week. But it cannot be ignored that the market's implied volatility remains at a high level, reflecting investors' uncertainty about future trends. Tonight, the release of the Consumer Price Index (CPI) data may become a key factor in driving market trends.
Given the sharp decline in the market last week, investors remain highly vigilant about potential downside risks. Risk reversal indicators for Bitcoin and Ethereum show that the market still favors put options until October, which further exacerbates the cautious atmosphere in the market.
Although the net inflow of funds from Bitcoin ETFs has brought a glimmer of hope for a short-term rebound in the market, investors still need to remain vigilant and pay close attention to market dynamics and upcoming important events to prevent the risk of a second decline in the market.
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