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So far this week, volatility is one of the most important elements in Cryptocurrency prices. The movements in the market have been radical, with sudden double-digit swings up and down in some tokens. However, none of this seems to affect Bitcoin spot ETF investors.
These exchange products maintain strong consistency despite the changing reality of the broader cryptocurrency market. This shows that the majority of the portfolios that invest in the shares of these funds have enormous experience in the world of investment. The latter does not prompt them to liquidate at a time of downward pressure, but quite the opposite.
While retail investors liquidated their BTC on Monday and Tuesday, flows into ETFs remained in the green. This reality extended to Wednesday, as shown by data from the Trading Different portal. During these three days recorded on the stock market, a total of $1,111 million dollars entered into these products.
As usual, BlackRock’s fund, IBIT, received the largest amount of capital. After him, Fidelity’s product, FBTC, also received a good share of flows from Wall Street portfolios this week.
Bitcoin ETFs maintained a positive pace of inflows during the crypto market pullback earlier in the week. Source: Trading Different
Bitcoin ETFs Avoided BTC Correction
At the beginning of the week, the price of the largest cryptocurrency experienced a sharp drop as a result of a pickup. Some whales got tired of waiting for a BTC consolidation above $100K and decided to take some of their profits.
This sell-off was followed by heavy selling by retailers, which led to a further collapse in the price of BTC. Despite the magnitude of the drop, Bitcoin ETF investors did not lose their composure. On Monday, positive flows continued, considering that the price of the currency plummeted after the stock market closed.
However, Tuesday was also one of positive earnings, despite the fact that liquidations in the spot market became more acute. This was a more than positive sign for both retailers and other whales that it was time to get in again, as the BTC price would not drop below $94K.
Thus, on Wednesday the recovery was absolute from the early hours of trading in the US. The catalyst for the new rally was the CPI inflation report, which points towards a new rate cut next week.
Without the buying pressure maintained by Bitcoin ETF investors, this recovery would have been difficult, at least in current terms.
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