Spot Bitcoin ETFs saw approximately $2.95 billion in net inflows over the past 30 days, with the rebound of funds accelerating again. In the same window, Bitcoin is moving toward its second-strongest September on record, having rebounded about 35% since the August lows.
Open interest denominated in Bitcoin, however, has fallen by nearly 20%, returning to the lowest levels since March. While price is trending upward, the positioning structure remains cautious. This round of gains is driven more by spot buying, not by leveraged “stacking” of contracts.
Institutional channels have reopened and the tap is back on at the monthly-candle level, which has once again moved above the historically strong range. Over the next few months, whether these net inflows can be sustained is likely more important to watch than day-to-day price moves.
#BTC #crypto market
Open interest denominated in Bitcoin, however, has fallen by nearly 20%, returning to the lowest levels since March. While price is trending upward, the positioning structure remains cautious. This round of gains is driven more by spot buying, not by leveraged “stacking” of contracts.
Institutional channels have reopened and the tap is back on at the monthly-candle level, which has once again moved above the historically strong range. Over the next few months, whether these net inflows can be sustained is likely more important to watch than day-to-day price moves.
#BTC #crypto market
