Last Friday, the data for the $BTC spot ETF was still mediocre. Although there was a net inflow, the amount was less than 1,900 coins, especially since BlackRock's investors only had a three-digit purchase, which was already the highest in the market. The FOMO sentiment among investors is still not apparent. Of course, the drop in Bitcoin prices on Friday was mainly due to issues with ancient whales, and this week there is a large amount of macro data to consider. Let's see how it goes after this week.
This is the 80th week since the birth of the BTC spot ETF. Since there were three working days this week with net outflows, the purchasing power of net inflows is significantly lower compared to the 79th week. In reality, the purchasing power of American investors is less than three digits of BTC, but there has been no data indicating sell-offs.
Therefore, the main reason BTC is still maintaining a high level is that the selling investors are still at lower levels.
Data address: https://docs.google.com/spreadsheets/d/1N8YIm1ZzDN197hMAlkuvH3BgFb8es0x1y4AJLCbDPbc/edit?usp=sharing
This article is sponsored by #Bitget | @Bitget_zh
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