ETF inflows continue—why can’t the three-day price action be considered conclusive yet?
My view is: the improvement in fund subscription demand is supported by the data, but over the next 72 hours, BTC, ETH, and SOL are currently not enough to clearly bet on either a rise or a fall.
Farside data shows that on the U.S. trading day of September 22, BTC, ETH, and SOL ETFs recorded net inflows of $714.7 million, $162.2 million, and $28.9 million, respectively. All three asset classes received capital support, which is a positive development. However, the inflow into one kind of fund does not necessarily mean it can cover the sell pressure across the entire market.
As of 00:59:03 Beijing time on September 24, the latest CoinGecko quotes available indicate that all three coins have fallen by about 3% over the past 24 hours. The price movement has not confirmed the direction implied by the fund capital flows, and the time windows covered by the two sets of data are not exactly the same. Therefore, it’s not possible to conclude that “institutions are propping up prices.”
My view is: the improvement in fund subscription demand is supported by the data, but over the next 72 hours, BTC, ETH, and SOL are currently not enough to clearly bet on either a rise or a fall.
Farside data shows that on the U.S. trading day of September 22, BTC, ETH, and SOL ETFs recorded net inflows of $714.7 million, $162.2 million, and $28.9 million, respectively. All three asset classes received capital support, which is a positive development. However, the inflow into one kind of fund does not necessarily mean it can cover the sell pressure across the entire market.
As of 00:59:03 Beijing time on September 24, the latest CoinGecko quotes available indicate that all three coins have fallen by about 3% over the past 24 hours. The price movement has not confirmed the direction implied by the fund capital flows, and the time windows covered by the two sets of data are not exactly the same. Therefore, it’s not possible to conclude that “institutions are propping up prices.”