Bitcoin (BTC) Spot ETFs Post Record $730,000,000 Inflow Matching Pre-Top Patterns
Bitcoin (BTC) spot exchange-traded funds (ETFs) are recording their largest daily inflow in nearly eight months.
Analyst TedPillows tells his 314,300 followers on X that the funds bought $730.87 million worth of Bitcoin on September 3rd.
He warns that on the two prior occasions when daily ETF inflows topped $700 million, Bitcoin formed a local top shortly afterward.
“The last two times, Bitcoin ETFs had a $700,000,000+ in daily inflow; BTC shortly formed a top. Yesterday, ETFs bought $730,870,000 in BTC, the largest inflow in almost eight months. Is the local top close for Bitcoin?”
On-chain analyst Alex Adler Jr. says Bitcoin ETFs account for a large share of the net flows over the last 30 days.
“Of the ~105K BTC equivalent net capital inflow over the past month, US spot ETFs contributed ~42.8K BTC in net flows, equivalent 41% of that amount.”
Meanwhile, the pseudonymous analyst DonAlt, who has a long history of accurately timing Bitcoin moves, believes BTC is in bull territory as the largest crypto asset by market cap refuses to initiate a deep corrective move.
… Continue reading the full article at the original source below.
