Spot Bitcoin ETF inflows can have a delayed effect on the BTC price, which takes a couple of days to materialize, according to market analysts.
The Bitcoin price remains unable to cross the $70,000 mark, despite last week’s record milestone for spot Bitcoin exchange-traded funds (ETFs).
On Oct. 17, the US-based spot Bitcoin (BTC) ETFs crossed $20 billion in total net flows, just 10 months after their debut. This same milestone took gold ETFs nearly five years to achieve.
BTC rose to a nearly three-month high of $69,487 on Oct. 21 before pulling back to trade at $68,570 as of 8:25 am UTC, according to Cointelegraph data.
