Bitcoin Selling Pressure Weakens as U.S. Spot ETFs Draw in $506M

💡 DMK Insight

Bitcoin’s recent demand surge, driven by $506M in ETF inflows, is a game changer for traders. This uptick in inflows marks a critical shift in sentiment, suggesting institutional interest is reigniting. The positive Coinbase premium indicates that buyers are willing to pay a premium for Bitcoin, which often signals bullish momentum. Traders should keep an eye on key resistance levels; if Bitcoin can hold above recent highs, it could pave the way for further gains. However, it’s worth noting that this rebound comes after a prolonged downturn, and volatility could spike as traders react to this news. Watch for potential pullbacks as profit-taking might occur. The flip side is that while ETF inflows are promising, they can also lead to overexuberance. If Bitcoin fails to maintain upward momentum, we could see a rapid correction. Keep an eye on the daily chart for signs of consolidation or reversal patterns. The next few days will be crucial to determine if this rally has legs or if it’s just a flash in the pan.