Bitcoin Bulls are facing a high challenge this week: funnel nearly $ 1 billion in the US listed stock exchangeed funds (ETFS) And prevent these publicly listed institutional investment vehicles from registering their second worst performance on the record.
In January 2024, NASDAQ erected 11 Spot Bitcoin ETFs, enabling investors to take exposure to cryptocurrency while eliminating the need for self -sufficiency of coins. Since then, these funds have collected a total of $ 53.9 billion in investor money.
However, this month has been another story. These funds have registered a net outflow of $ 972 million, which is the second largest since their start, only behind $ 3.56 billion in February, according to Data Source Sosovalue. A negative context by Friday would mark the end of the four -month influx.
The slowdown in the recording of ETFs is one of the main causes of BTC’s DOUR prize performance this month, according to analysts. The spot price peaked with a record height of over $ 124,000 early this month and last changed hands just over $ 100,000.
“This month alone could see the second highest outflow on the record compared to February’s tops of $ 3.5 billion under the US tariff baked headwinds may not be, but they are a reminder that flow and seasonal provision matter,” Matrixport said in Tuesday’s edition of Day of Day.
The company added that this remains a period to “step carefully”, although macro and liquidity drivers could eventually push BTC higher.
Consensus is that BTC will continue to win space in the year and potentially reach levels over $ 150,000. But that would require significant influxes, according to 10x research founder Markus Thielen.
“Some claim that Bitcoin’s macro narrative alone is what matters, but without real capital flows, the price cannot rise. To reach $ 150,000, Bitcoin would claim about $ 404 billion in total influx of year-down, another $ 173 billion means between now and year of the year,” Thiel said in a note to clients on Tuesday.
“That’s twice the combined awards from Bitcoin ETFs and Microstratey since the beginning of January 2024,” he added.
Note that ether ETFs have registered a net flow of $ 3.23 billion this month, which extends the winning row since April.
