Bitcoin has continued to still range in price despite record inflows from spot Bitcoin ETFs. Experts have given reasons why this is happening.Exchange Traded Funds , the expected corresponding rise in Bitcoin’s price has yet to materialize, puzzling investors and analysts alike.
In the past few weeks, these ETFs have experienced a record inflow, marking the longest streak of positive flows since their inception, with BlackRock’s IBIT leading the pack with substantial net inflows. Over the last 24 hours, the cryptocurrency has struggled to gain further momentum, with its price hovering just above $71,000.The current stagnation in Bitcoin’s price, despite substantial ETF inflows, raises questions about the actual impact of these financial instruments on the cryptocurrency’s market value.According to Christopher Inks, a seasoned crypto trade, the market dynamics of Bitcoin are complex, influenced by an amalgamation of spot trading, futures, options, and now ETFs.
This phenomenon is often described as ‘buy the rumor, sell the news,’ where market anticipation of an event drives up prices temporarily, only to stabilize or drop once the event materializes.that while ETFs now hold approximately 5% of the total circulating Bitcoin supply, the remaining 95% is controlled by a diverse group of investors, including whales, whose trading activities significantly sway the market.
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