You can’t tell whether ETF inflows have returned just by looking at the rebound.
- Last week, U.S. spot Bitcoin ETFs saw combined net outflows of $678.9 million. Adding up the daily figures, the weekly total was still negative. (Farside Investors)
- On Friday, flows turned positive, with $21.1 million in net inflows. A single-day return to inflows can coexist with net outflows for the week. (Farside Investors)
- CoinDesk reported this morning that Bitcoin had climbed back above $84,000. That was the price at the time of reporting; for the current futures price, see the snapshot below. (CoinDesk)
My take: The return to inflows on a single day is worth watching, but it isn’t enough to prove that the weekly fund-flow trend has reversed. Net ETF creations and redemptions reflect flows in this category of products only, and shouldn’t be treated as the sole reason for a price rebound.
Binance futures (as of 14:17 Beijing time)
BTCUSDT perpetual
Price: 83739.9 USDT; 24h change: 0.902%
24h range: 82916.7–84250 USDT
30-day range: 74909.4–87385.1 USDT (last 30 daily candles, including today)
Open interest: 94050.578 BTC
Long/short account ratio: 1.3425 (5-minute basis)
Funding rate: 0.000089% (latest value from the API)
Scenario 1: Moves above 84300; watch whether it can stay above that level.
Scenario 2: Falls back below 82900; watch whether the lower end of the range remains under pressure.
These are scenarios to watch; the levels are rounded from the 24h high and low.
The long/short account ratio is based on the number of accounts, not the amount of capital. Open interest is just a snapshot and cannot, by itself, establish that positions are increasing. More ETF data from subsequent trading days will be needed to judge whether the improvement in flows can last.
What do you think is more worth watching next: sustained ETF inflows, or how price reacts at the boundaries of the range?
#比特币 #ETF $BTC
- Last week, U.S. spot Bitcoin ETFs saw combined net outflows of $678.9 million. Adding up the daily figures, the weekly total was still negative. (Farside Investors)
- On Friday, flows turned positive, with $21.1 million in net inflows. A single-day return to inflows can coexist with net outflows for the week. (Farside Investors)
- CoinDesk reported this morning that Bitcoin had climbed back above $84,000. That was the price at the time of reporting; for the current futures price, see the snapshot below. (CoinDesk)
My take: The return to inflows on a single day is worth watching, but it isn’t enough to prove that the weekly fund-flow trend has reversed. Net ETF creations and redemptions reflect flows in this category of products only, and shouldn’t be treated as the sole reason for a price rebound.
Binance futures (as of 14:17 Beijing time)
BTCUSDT perpetual
Price: 83739.9 USDT; 24h change: 0.902%
24h range: 82916.7–84250 USDT
30-day range: 74909.4–87385.1 USDT (last 30 daily candles, including today)
Open interest: 94050.578 BTC
Long/short account ratio: 1.3425 (5-minute basis)
Funding rate: 0.000089% (latest value from the API)
Scenario 1: Moves above 84300; watch whether it can stay above that level.
Scenario 2: Falls back below 82900; watch whether the lower end of the range remains under pressure.
These are scenarios to watch; the levels are rounded from the 24h high and low.
The long/short account ratio is based on the number of accounts, not the amount of capital. Open interest is just a snapshot and cannot, by itself, establish that positions are increasing. More ETF data from subsequent trading days will be needed to judge whether the improvement in flows can last.
What do you think is more worth watching next: sustained ETF inflows, or how price reacts at the boundaries of the range?
#比特币 #ETF $BTC