Bitcoin upside could stop at $100K despite $3B in ETF inflows

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Coin Telegraph 17h ago

Bitcoin upside could stop at $100K despite $3B in ETF inflows - Coin Telegraph

Quick Summary:

Evidence of whether the high spot Bitcoin ETFs inflows could signal that the price is getting close to a local top could be determined by analyzing historical data.

Using a Vector Autoregression model, market analytics resource FalconX demonstrated the relationship between ETF net flows and Bitcoin price, and found that inflows have short-term predictive power for price increases, not necessarily reversals.

Source: Glassnode The chart above shows that in March 2024, spot Bitcoin ETFs saw record inflows of over $1 billion on March 12, with BlackRock’s IBIT alone receiving $849 million.