Bitfinex analysts warned that if Bitcoin ETFs don’t see consistent inflows soon, the cryptocurrency’s spot price could enter a more extended consolidation phase.
Bitcoin is at risk of breaking a crucial support price level as US-based spot Bitcoin ETFs have continued to bleed red after the recent crypto market crash, according to analysts from Bitfinex. “The lack of institutional accumulation has made the $107,000 to $108,000 zone increasingly difficult to defend as support,” Bitfinex analystsin a report on Tuesday, noting significant net outflows after US President Donald Trump’s tariff announcement earlier this month.
This week has seen outflows on two of three trading days; however, strong inflows on Tuesday have kept overall net flows positive so far at $335.4 million.Bitfinex analysts said Bitcoin’s price is at a crucial point where it may “serve as a key warning signal” of a more prolonged consolidation period if it moves any lower.The analysts said that this may happen if ETF inflows don’t hold strong. “If weakness persists or ETF inflows fail to recover meaningfully in the coming weeks, it would point to growing demand-side fragility,” the analysts explained, adding: “Such a scenario could undermine one of the primary forces behind previous rallies —consistent institutional accumulation, heightening the risk of a more prolonged consolidation phase.” However, the consensus among market participants is that Bitcoin will see an upswing before the end of the year, with the likes of BitMEX co-founder Arthur Hayes and BitMine chair Tom Lee still predicting Bitcoin could reach $250,000 by year-end.CZ calls Peter Schiff’s tokenized gold a ‘trust me bro’ asset
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin whales quietly embrace BlackRock ETF following SEC rule changeEarly Bitcoin whales are converting holdings into ETFs such as BlackRock’s IBIT, marking a shift from self-custody to institutional finance.
Read more »
BlackRock helping Bitcoin whales transition their holdings toward ETFsBitcoin (BTC) whales are reportedly shifting their portfolios from their on-chain wallets to Wall Street through exchange-traded funds (ETFs) from asset managers like BlackRock (BLK).
Read more »
Bitcoin Whales Getting Back Into TradFi Via ETFs Says BlackRockLarge Bitcoin bagholders are starting to swap their assets for shares in exchange-traded funds, according to BlackRock.
Read more »
Why Bitcoin Whales Are Increasingly Swapping Their BTC for ETF Shares: BloombergBitcoin whales are using a July 29 SEC decision to convert (without selling) coins into spot BTC ETF shares, like BlackRock’s IBIT. Why give up decentralization?
Read more »
Bitcoin, Ethereum, XRP steady amid ETF inflowsBitcoin (BTC) steadies above $108,000 at the time of writing on Wednesday, after facing rejection from resistance at $114,000 the previous day. However, a resurgence of BTC spot Exchange Traded Funds (ETFs) inflows supports a short-term bullish outlook.
Read more »
Spot Solana (SOL) ETF Gets Regulatory Green Light in Hong KongHong Kong investors will soon access Solana via ChinaAMC's first spot ETF, which joins the company's existing Bitcoin and Ethereum ETFs.
Read more »