According to BitMEX Research’s data, although the Bitcoin spot ETF saw a net outflow of $35 million and a drop in Bitcoin price to the 50K level for over two weeks since February 21st, it recovered with a net inflow of $251 million on February 22nd. Overall, while not reaching the $400-600 million inflow seen between February 7th and 16th, the inflow is still significant. IBIT and FBTC maintained inflows in the billions of dollars, while GBTC saw an outflow of $55 million.
As of the deadline, Bitcoin has not experienced a significant recovery in response to this data and has remained at the 51K level. Some analysts believe that as long as the trading level remains below 52K, a cautious attitude should be maintained, and it could even further decline to the 47-48K level.
BitMEX
ETF
Bitcoin
Further reading:
Trading volume of nine Bitcoin ETFs hits record high, BTC reaches 53K, and ETH surpasses $3,000
Gold ETF funds flowing into Bitcoin? Is BTC digital gold or a risky asset?