Analyst: Crypto Market Still in Consolidation Phase, Institutional Demand Yet to See Structural Shift
BlockBeats News, January 9th, according to The Block, the Bitcoin ETF saw a net outflow of $398.95 million yesterday, with a cumulative net outflow of $1.12 billion over the past three trading days. The outflow for three consecutive days almost offset the net inflow in the first two trading days of the year.
Nick Ruck, Managing Director of LVRG Research, stated: "The recent outflow of funds from the Bitcoin ETF mainly reflects portfolio rebalancing, profit-taking on rebounds, and short-term cautious sentiment during a market consolidation period, rather than a fundamental shift in institutional demand. The crypto market is still in a consolidation phase, with Bitcoin hovering above $90,000, supported by potential ongoing institutional accumulation."
Nick Ruck pointed out: "Traders should closely monitor ETF fund flow trends, Bitcoin's key resistance level near $95,000, and macroeconomic signals such as changes in Fed policy to assess potential breakouts or further volatility."
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