⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

Bitcoin (BTC) Nearly Falls Below $50,000 – Bitcoin Spot ETF Inflows Pumps

The price of Bitcoin (BTC) continues to exhibit weakness as the month draws to a close. According to recent data, Bitcoin is still struggling to maintain its resistance level and still stuck between $50,800 to $51,100.

 

BrokerReviewRegulatorsMin DepositWebsite
🥇Read ReviewASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSAUSD 100Visit Broker >>
🥈Read ReviewFMA, FSAUSD 50Visit Broker >>
🥉Read ReviewFSCA, CySEC, DFSA, FSA, CMAUSD 0Visit Broker >>
4Read ReviewSFSA, FSCA, CySec*USD 5Visit Broker >>
5Read ReviewFCA, CySEC, FSCA, SCBUSD 100Visit Broker >>
6Read ReviewFCA, FINMA, FSA, ASICUSD 0Visit Broker >>
7Read ReviewCySEC, FCA, FSA, FSCA, Labuan FSAUSD 100Visit Broker >>
8Read ReviewNot Regulated0.001 BTCVisit Broker >>
9Read ReviewASIC, CySEC, FSCA, CMAUSD 100Visit Broker >>
10Read ReviewCySEC,MISA, FSCAUSD 20Visit Broker >>

 

It’s been more than a month since the BTC spot ETFs were approved, this had led to a massive pump in Bitcoin’s price. However as it appears, BTC spot ETF inflows have decrease in the past few days leaving investors especially the bulls in a narrow trading zone. 

Since February 20, BTC spot ETF net inflows have decreased massively. This happened after the BTC spot ETF have witnessed an increase in net outflows for the first time since the BTC ETF approval. 

According to a report from Grayscale Bitcoin Trust (GBTC), there were a total of $199.3 million net outflows coming from $137 million on Tuesday, February 20. 

On a good note, there was a stronger activity in net inflows yesterday. Data shows that over $250 million came in and this could be a good sign. 

James Van Straten, research and data analyst from CryptoSlate, stated “Normality resumed a $251M inflow into the Bitcoin ETFs,”

If this pace continues, Thomas Fahrer, CEO of Apollo predicted that huge inflows would change the BTC supply dynamics. 

At this time of writing, Bitcoin (BTC) trades at $51,192, 0.82% decrease in the last 24 hours. Market cap 

Bitcoin’s Bullish and Bearish indicators

Titan of Crypto has revealed a Bull flag formation on Bitcoin’s chart, indicating an optimistic price target of $61,000. This projection is supported by the Tenkan-Sen indicator, which shows strong signals each time BTC’s value approaches $50,700. Furthermore, as long as Bitcoin stays this indicator line, the possibility of realizing the bull flag scenario is significant.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Avatar
Sophia Cruz
Financial Writer - Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
Related Articles