Matrixport: Bitcoin ETFs Attract Over $45 Billion, but the Market Faces Hidden Selling Pressure
Odaily Planet Daily reports that Matrixport has released its latest weekly report, noting that Bitcoin ETFs have attracted over $45 billion in cumulative inflows, with stable corporate allocation demand and growing institutional interest. However, despite the strong capital inflows into ETFs, the market still faces hidden selling pressure risks, especially when the price of Bitcoin approaches the average holding cost of retail investors over the past year (around $45,000). At such levels, potential selling pressure may emerge, possibly creating resistance to further price increases.
The report also points out that since some funds that flowed into Bitcoin ETFs in Q2 2024 are still at a loss, the market may continue to undergo structural adjustments in the short term. The key lies in whether Bitcoin can break out of its current range and trigger a new wave of capital inflows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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