According to a ChainCatcher report, Bloomberg ETF analyst Eric Balchunas posted that "Yesterday, Bitcoin ETFs recorded a strong net inflow of $843 million. Over the past week, net inflows have reached $1 billion, and year-to-date net inflows are approximately $1.5 billion. In terms of price, Bitcoin is currently hovering around $97,000, having previously traded in a consolidation phase near $88,000 for nearly half a year. Overall, it seems that buying pressure may have gradually absorbed, or even exhausted, selling pressure, though the final outcome will require further observation."
Bitcoin ETF Sees $1.5 Billion Net Inflows YTD as Buy Pressure May Be Absorbing Sell Pressure
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Summary
ETF news trading accelerated as Bitcoin ETFs recorded $843 million in net inflows on January 15. Weekly inflows reached $1 billion, with year-to-date totals hitting $1.5 billion. BTC trades near $97,000 after lingering around $88,000 for six months. Technical analysis for crypto suggests that buying pressure may have absorbed or even exhausted selling pressure, although more time is needed to confirm this.
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