BTC is back near $84,000, but U.S. spot Bitcoin ETFs saw net outflows of $681 million last week.
The market is now debating: Is this rebound being driven by fresh buying, or is it just a recovery in positioning after the drop? I’m leaning cautious: the price is back, but that doesn’t mean the money is too.
Last week’s net outflows ended three consecutive weeks of inflows. BTC rebounded from around $80,000, but is still seesawing around the $84,000 mark. Some say ETFs recorded net inflows of about $21.1 million on October 9, but that figure has yet to be verified; even if accurate, a single day of inflows can’t erase a full week of outflows.
If inflows continue and the price breaks out of this range, then this cautious view should be revised. Do you think $84,000 proves buyers are back, or is it just a breather while money continues to flow out?
The market is now debating: Is this rebound being driven by fresh buying, or is it just a recovery in positioning after the drop? I’m leaning cautious: the price is back, but that doesn’t mean the money is too.
Last week’s net outflows ended three consecutive weeks of inflows. BTC rebounded from around $80,000, but is still seesawing around the $84,000 mark. Some say ETFs recorded net inflows of about $21.1 million on October 9, but that figure has yet to be verified; even if accurate, a single day of inflows can’t erase a full week of outflows.
If inflows continue and the price breaks out of this range, then this cautious view should be revised. Do you think $84,000 proves buyers are back, or is it just a breather while money continues to flow out?