Spot Bitcoin ETFs have become a key part of the entire cryptocurrency ecosystem in just four months after they went live on US financial markets.
However, the trend started to change on a few occasions in March, but especially in late April and early May. In fact, there’s a negative seven-day streak from April 24 to May 2 when the outflows Moreover, Eric Balchunas asserted that the May inflows of $1.3 billion had covered all the losses seen in April, which is perhaps why BTC’s price has shot up by around ten grand and currently sits at $67,000.
Even though the most recent filings to the US SEC revealed numerous large entities entering the Bitcoin ETF landscape, such as Morgan Stanley, the, these products also attract a certain cohort of retail investors, which are more inclined to making emotional decisions on when to buy and sell assets.
Source: Digital Coin News (digitalcoinnews.net)
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