The spot Bitcoin ETFs have continued to attract inflows, suggesting that the long-term bullish view remains intact.
Bitcoin (BTC) is finding it difficult to sustain above $60,000 but that has not deterred buying in the spot Bitcoin exchange-traded funds (ETFs). Farside Investors data shows only two days of outflows since Aug. 7, which suggests that investors view the current level as a buying opportunity for the long term.
According to technical analyst SuperBro, Bitcoin has always bottomed out either in July or August during the United States presidential elections year. After that, Bitcoin’s price tends to rally sharply on completion of elections. If history repeats itself, Bitcoin may soar to a new all-time high in November.
Crypto market data daily view. Source: Coin360
