$BTC
With all these ETF buys, why is it still falling?
As of 23:52 on September 28 (Beijing time), Binance BTC/USDT is at 83,251, down 1.46% over the past 24 hours. According to Farside, last week’s U.S. spot BTC ETFs saw net inflows of approximately $2.386 billion, with net inflows on all five trading days.
Putting these two sets of data together, I can’t be optimistic—at least not yet. Yes, the ETF is buying, but whether this buy order can push the price higher depends on how much selling is happening elsewhere. Just because there are net inflows doesn’t mean institutions have already propped up the bottom—I think it’s a bit early to say that.
There’s another change: net inflows were about $999 million on Monday last week, but by Friday they had dropped to only $135 million. Money is still coming in, but the momentum isn’t as strong. Of course, a few days of data can’t be directly turned into a trend, but you also shouldn’t just pick out the largest number.
My take is: if inflows decrease going forward and the price can hold steady instead, that’s worth paying closer attention to—maybe the selling pressure is also easing. If capital continues to flow in while the price keeps dropping, I’ll first suspect there are still sell orders above that haven’t been fully absorbed, and I wouldn’t rush to label every dip as “just a shakeout.”
Full ETF data for Monday hasn’t come out yet—let’s wait for this tranche first.
#比特币 #BitcoinETF
With all these ETF buys, why is it still falling?
As of 23:52 on September 28 (Beijing time), Binance BTC/USDT is at 83,251, down 1.46% over the past 24 hours. According to Farside, last week’s U.S. spot BTC ETFs saw net inflows of approximately $2.386 billion, with net inflows on all five trading days.
Putting these two sets of data together, I can’t be optimistic—at least not yet. Yes, the ETF is buying, but whether this buy order can push the price higher depends on how much selling is happening elsewhere. Just because there are net inflows doesn’t mean institutions have already propped up the bottom—I think it’s a bit early to say that.
There’s another change: net inflows were about $999 million on Monday last week, but by Friday they had dropped to only $135 million. Money is still coming in, but the momentum isn’t as strong. Of course, a few days of data can’t be directly turned into a trend, but you also shouldn’t just pick out the largest number.
My take is: if inflows decrease going forward and the price can hold steady instead, that’s worth paying closer attention to—maybe the selling pressure is also easing. If capital continues to flow in while the price keeps dropping, I’ll first suspect there are still sell orders above that haven’t been fully absorbed, and I wouldn’t rush to label every dip as “just a shakeout.”
Full ETF data for Monday hasn’t come out yet—let’s wait for this tranche first.
#比特币 #BitcoinETF