$FF $TUT $BTC Research Briefing & News Flash｜Spot funds are “actively pushing” the market
Bitfinex’s latest analysis suggests this round of Bitcoin gains is not simply built on leverage piling up. Instead, it is driven by the steady inflow of spot demand combined with accelerated short-covering. On August 19, the U.S. Treasury expanded its long-term bond repurchase program. On the same day, the U.S. spot BTC ETF saw net inflows of $297.6 million. On August 20, the single-day inflow surged further to $606.29 million, with BlackRock’s IBIT contributing about 82%, making the institutions’ level of entry especially notable.
More importantly: while the BTC price rose by 10%—11%, open interest increased by only about 4%. This indicates the rally doesn’t have a strong “leverage flavor”—spot buying is the dominant force.
But risks are approaching as well. $68,000—$69,000 is seen as a key support zone. If a large amount of floating-profit BTC suddenly flows into trading platforms in a concentrated manner, it could trigger the largest profit-taking pullback since 2026. The uptrend is strong, but high-level positions are loosening—meaning the market could experience sharp volatility at any time. #BPI吁FinCEN扩大稳定币身份识别至二级市场 #Anthropic据报IPO或超SpaceX纪录 #英伟达AI服务器涨价超15%
🔥⭐️🐶👇👇👇👇👇
Bitfinex’s latest analysis suggests this round of Bitcoin gains is not simply built on leverage piling up. Instead, it is driven by the steady inflow of spot demand combined with accelerated short-covering. On August 19, the U.S. Treasury expanded its long-term bond repurchase program. On the same day, the U.S. spot BTC ETF saw net inflows of $297.6 million. On August 20, the single-day inflow surged further to $606.29 million, with BlackRock’s IBIT contributing about 82%, making the institutions’ level of entry especially notable.
More importantly: while the BTC price rose by 10%—11%, open interest increased by only about 4%. This indicates the rally doesn’t have a strong “leverage flavor”—spot buying is the dominant force.
But risks are approaching as well. $68,000—$69,000 is seen as a key support zone. If a large amount of floating-profit BTC suddenly flows into trading platforms in a concentrated manner, it could trigger the largest profit-taking pullback since 2026. The uptrend is strong, but high-level positions are loosening—meaning the market could experience sharp volatility at any time. #BPI吁FinCEN扩大稳定币身份识别至二级市场 #Anthropic据报IPO或超SpaceX纪录 #英伟达AI服务器涨价超15%
🔥⭐️🐶👇👇👇👇👇
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