ETF Bitcoin inflows

Hello!

As you can see in the image below, we have been in the consolidation range since the beginning of July. With some ups and downs we are currently at the +300,000 level. This means that the Bitcoin ETFs have bought a net of 300,000 Bitcoin since the beginning of January.

The numbers are big considering that the actual daily inflation is 450 new Bitcoin a day. The overall net buy pressure for the Bitcoin ETFs is approximately 1,000 Bitcoins each day.

The last days stopped a positive 3 week streak of positive inflows, in fact, we could say that last week was negative in terms of inflows.

What will happen with the Bitcoin price before the 2024 ends? I see no signs of exhaustion here, even though the price is now trading at the $61,000 level the sentiment of the market has shifted to bullish.

It’s just a matter of time, everyday I’m more convinced that we will break this pattern of consolidation before the end of this year. The pump will come, and will be massive. Some analysts are saying that we will see 10k daily candles this cycle, I’m not sure about that.

What I am sure of is that the pump will be epic. Keep pushing my boys!

I hope you had a great day

Posted Using InLeo Alpha