Bitcoin ETFs attract $1.08 billion in 3 days but it may not be enough for a steep rally

Bitcoin ETFs attract $1.08 billion in 3 days but it may not be enough for a steep rally

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

Bitcoin BTC$84,459.46 exchange-traded funds (ETFs) are back in favor, but not yet at the pace that has historically fueled steep rallies.

These U.S.-listed funds have pulled in over $1 billion in investor money this week, according to SoSoValue data.

Analysts are calling it a sign of renewed institutional bid for the cryptocurrency, with a warning that the pace must remain robust for a sustained uptick in bitcoin’s price.

“Institutional demand shows tentative improvement.

However, flows remain volatile and sustained inflows are needed to confirm a stronger recovery,” Vikram Subburaj, CEO of India-based Giottus, said in an email.

Steep uptrends have been characterized by average daily net inflows of over $200 million.

Since the funds launched in January 2024, bitcoin has had three steep rallies, a stretch in which bitcoin gained more than 50% without ever falling more than 20% from its highest point along the way.

23 to March 14, 2024, bitcoin rose 79% from about $39,900 to $71,400.

Analiz: Piyasa hareketliliği devam ediyor.