More than $1.08 billion was snapped up by ETFs in just three sessions. Is this a liquidity trap, or are institutions accumulating ahead of a new rally?
The latest session saw another $528 million in net inflows, officially turning October’s flows positive again. Buying was concentrated in BlackRock and Fidelity, while selling pressure from GBTC has nearly dried up. The spot ETF mechanism requires funds to withdraw actual Bitcoin into custody wallets, shrinking the amount of freely available supply on exchanges.
Even so, at the time of writing, the price $BTC on the futures market is still fluctuating around $82,285 (-0.96% over 24 hours). When whales deploy large sums, they often don’t rush to push prices up. Instead, they’re willing to let prices drift as they scoop up the liquidity of those who are impatient. I think there’s a good chance the market will make a few more sharp moves, sweeping liquidity on both sides, before confirming its next direction. For now, traders should reduce leverage and prioritize risk management.
Do you already have a position $BTC , or are you still sitting on the sidelines? Click $BTC below to check the candles! 👇
#BTC #Bitcoin #Crypto #BinanceSquare
The latest session saw another $528 million in net inflows, officially turning October’s flows positive again. Buying was concentrated in BlackRock and Fidelity, while selling pressure from GBTC has nearly dried up. The spot ETF mechanism requires funds to withdraw actual Bitcoin into custody wallets, shrinking the amount of freely available supply on exchanges.
Even so, at the time of writing, the price $BTC on the futures market is still fluctuating around $82,285 (-0.96% over 24 hours). When whales deploy large sums, they often don’t rush to push prices up. Instead, they’re willing to let prices drift as they scoop up the liquidity of those who are impatient. I think there’s a good chance the market will make a few more sharp moves, sweeping liquidity on both sides, before confirming its next direction. For now, traders should reduce leverage and prioritize risk management.
Do you already have a position $BTC , or are you still sitting on the sidelines? Click $BTC below to check the candles! 👇
#BTC #Bitcoin #Crypto #BinanceSquare