Bitcoin The bulls face a high challenge this week: surrounding nearly a billion dollars in the funds negotiated on the stock market listed in the United States (ETF) And prevent these listed institutional investment vehicles from registering their second recorded performance.
In January 2024, the NASDAQ listed 11 ETF Bitcoin Spot, allowing investors to expose the cryptocurrency while eliminating the need for self-works. Since then, these funds have cumulatively raised $ 53.9 billion in investors’ money.
However, this month was another story. These funds recorded a net output of $ 972 million, which is the second largest since their creation, only behind the $ 3.56 billion in February, according to the Sosovalue data source. Friday, a negative count would mark the end of the four -month entry sequence.
The slowdown in adoption for ETFs is one of the main reasons for the BTC price performance this month, according to analysts. The cash price reached a record summit of more than $ 124,000 at the beginning of the month and changed hands for the last time more than $ 100,000.
“This only month could see the second highest release never recorded, compared to the summit of $ 3.5 billion in February during the American tariff debacle. Seasonal opposite winds may not last, but they recall that the flow and seasonality are important,” said Matrixport in Tuesday edition of Chart of the Day.
The company added that it remains a period to “walk carefully”, even if the macro and liquidity drivers could possibly push BTC above.
The consensus is that the BTC will continue to gain ground in the year, potentially reaching levels above $ 150,000. But that would require significant entries, according to the founder of 10x Research, Markus Thielen.
Some argue that Bitcoin’s macro account alone is what matters, but without real capital flows, the price cannot increase. To reach $ 150,000, Bitcoin would require around $ 404 billion in total admissions this year, which represents an additional $ 173 billion on Tuesday.
“This is double the combined allowances of Bitcoin ETF and microstrategy since early January 2024,” he added.
Note that the ETF Ether recorded a net influx of $ 3.23 billion this month, extending the victories sequence since April.
