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Crypto financial services platform Matrixport announced in its latest weekly report that there has been more than $45 billion of net inflows into Bitcoin spot ETFs to date.
Matrixport: Bitcoin ETF Inflows Surpass $45 Billion, But Stealth Selling Pressure Continues
According to the report, increasing institutional interest and a steady portfolio allocation by companies to Bitcoin were the main drivers of these inflows.
However, Matrixport noted that despite the positive outlook for ETF flows, there is still a risk of “hidden selling pressure” in the market.
It was stated that especially when the Bitcoin price approaches the average cost of individual investors in the last year (approximately $45,000), the probability of investors at these levels to switch to sales increases and this situation may limit the upward movements.
Bitcoin Breakout Expected
The report also highlighted that some capital channeled into ETFs was still at a loss in the second quarter of 2024, and therefore a short-term structural correction process may continue in the market.
Matrixport analysts stated that the key factor that will determine the direction of the market will be whether Bitcoin can break out of its current trading range and trigger new investor inflow.
Corporate Demand Remains Strong
While the increase in institutional investments made through ETFs shows that the influence of traditional finance in the crypto market is strengthening, it is also pointed out that these inflows are playing an increasingly decisive role in Bitcoin pricing.
However, analysts emphasize that in the short term, investors' profit realization, psychological levels and macroeconomic factors should also be taken into account.
Matrixport’s warnings suggest that Bitcoin investors should be more careful when positioning, especially at key technical levels.
*This is not investment advice.