Large surges in spot Bitcoin ETF inflows have historically been “followed by bearish price movements,” leading one analyst to warn that a price decline could follow.
Spot Bitcoin (BTC) exchange-traded funds (ETFs) within the United States have grabbed a significant amount of inflows in recent times, and analysts are concerned that it may lead to history repeating and Bitcoin’s price sliding.
“Historically, this kind of activity has been followed by bearish price movements, and we may be seeing the beginning of a price dip as a result,” Hyblock Capital CEO and co-founder Shubh Varma opined in an Oct. 23 analyst note viewed by Cointelegraph.
Varma pointed out that “there have been unusually large BTC ETF inflows over the past several days, with inflows exceeding $300 million on multiple occasions.”
