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Crypto Financial Service Platform Matrixport has Released a Bitcoin ETF Report! Here are the Details
The crypto financial services platform Matrixport announced in its latest weekly report that there has been a net inflow of over 45 billion dollars into Bitcoin spot ETFs to date.
Matrixport: Bitcoin ETF Inflows Exceed 45 Billion Dollars, But Hidden Selling Pressure Continues
According to the report, the increase in institutional interest and the steady continuation of companies' portfolio allocations towards Bitcoin have been the main driving force behind these entries.
However, Matrixport pointed out that despite the positive outlook for ETF flows, there is still a risk of "hidden selling pressure" in the market.
It was noted that especially when the price of Bitcoin approached the average cost of individual investors over the last year, around 45,000 dollars, the likelihood of investors at these levels selling has increased, and this situation could limit upward movements.
Expectation of Breakout in Bitcoin
The report also emphasized that some of the capital flowing into ETFs in the second quarter of 2024 is still at a loss, and therefore a short-term structural correction process in the market may continue.
Matrixport analysts stated that the key factor determining the direction of the market is whether Bitcoin can break its current trading range upwards and trigger new investor inflow.
Institutional Demand Remains Strong
The increase in institutional investments made through ETFs indicates that the influence of traditional finance in the crypto market is strengthening, and it also points out that these entries are playing an increasingly decisive role in Bitcoin pricing.
However, analysts emphasize that in the short term, investors should consider profit realization, psychological levels, and macroeconomic factors.
Matrixport's warnings indicate that Bitcoin investors need to take more cautious positions, especially at key technical levels.
*This is not investment advice.
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