Bitcoin spot ETF saw net outflows for consecutive weeks, indicating a decrease in buying sentiment and causing the price of Bitcoin to retrace from its high of 73,000 to 60,000. However, this week in the United States (March 25th), there was a slight recovery in fund inflows, with a net inflow of $15.4 million. BlackRock’s IBIT saw an inflow of $35.5 million, Fidelity’s FBTC saw an inflow of $261 million, while GBTC saw an outflow of $350 million.
Source: coinglass
10x research, an analysis company known for its astonishing predictions, believes that unless the Bitcoin trading price drops below 68,000, it will remain bullish. In their recent bullish prediction, they mentioned the possibility of a 15,000-20,000 point increase.
As the end of March approaches, the trading conditions for this week may provide a glimpse into the intentions of institutional investors to showcase more Bitcoin exposure this quarter. Due to the disclosure requirements for certain-sized institutions, investment institutions with assets under management exceeding $100 million in mid-May will have to disclose their investments in Bitcoin ETFs. If well-known institutions enter the Bitcoin market, it is expected to have a positive impact on market sentiment towards Bitcoin.
Source: 10x research
ETF
Bitcoin
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