ETF Inflows Offsetting Miner Selling
Institutional ETF demand is offsetting Bitcoin miner sales, maintaining price support.
Too little corroboration in the last 3 days to call a trend (4 articles). Watching for it to gain traction.
A mix of mainstream and niche sources — coverage is broadening.
"Bitcoin struggled to gain momentum on Friday despite this week's robust spot ETF inflows. SoSoValue data shows net inflows of $233.1 million from spot Bitcoin ETFs on Thursday."
"In past market cycles, such outflows have been associated with considerable bearish pressure on prices. But currently, there has been a different development. Bitcoin continues trading at a high level despite the outflow of institutional capital from the ETFs."
"Additional analysis from Citigroup suggests ETF activity continues to play a major role in Bitcoin price performance. In a recent note, the bank estimated that spot Bitcoin ETF flows account for around 45% of weekly fluctuations in Bitcoin returns."
"Despite this, the bitcoin price holds above key support. Institutional ETF demand continues offsetting miner sales."