Bitcoin's price lingers below the $70,000 mark, despite reaching a significant milestone for spot exchange-traded funds (ETFs) on October 17. These ETFs accumulated $20 billion in just 10 months, a feat that took gold ETFs nearly five years. On October 21, BTC peaked at $69,487 before dropping to $68,570. Analysts note that ETF inflows can take time to influence BTC prices, often leading to muted immediate effects on the market. The current market suggests traders view these inflows as exit liquidity, resulting in a need for sustained buying interest to push prices higher. Although recent figures show considerable inflows, including $1.17 billion into BlackRock’s iShares Bitcoin Trust ETF, their impact has been limited, partly due to some trades being part of delta-neutral strategies. However, a positive signal is noted with Bitcoin closing the week above $69,000, setting the stage for potential movement towards the re-accumulation level above $71,000 since June 2024. Future ETF inflows may be aided by new regulatory approval in the U.S.

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