This suggested a temporary decline in interest in BTC spot ETFs.supply absorption by spot Bitcoin exchange-traded fund has indicated a drop in interest in this asset class.The BTC spot ETF market witnesses a slight decline
This metric is important because increased supply absorption from spot ETFs could potentially lead to upward price pressure on BTC.Oininen_t found that the coin’s supply absorption recently turned negative and dropped to a low of -0.38. Confirming the position above, the analyst opined, However, in the current market, the retail investors who usually accumulate these coins have shifted their attention towards meme coins.-based meme coins have grown by triple-digits, leading to a significant uptick in the meme coin market capitalization.“Although retail investors have shown growing interest towards bitcoin, their focus might be on the new Solana-based tokens and “meme coins.”
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