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Author: Admin | 2025-04-27
Bitcoin ETF inflows on Monday and Tuesday will be the "real test" for what's next for the largest crypto asset's price, Markus Thielen wrote.Updated Mar 18, 2024, 4:04 p.m. UTCPublished Mar 18, 2024, 4:02 p.m. UTCU.S.-listed spot bitcoin ETFs attracted record inflows last week, but the trend is slowing.BTC may drop to as low as $59,000 if ETF inflows fell short of expectations, 10x Research said.Spot bitcoin (BTC) exchange-traded funds (ETF) in the U.S. notched record inflows last week, but weaker demand in the next day or so could trigger the next leg down for bitcoin's price, according to crypto analytics firm 10X Research.The 10 ETFs combined pulled in $2.6 billion in fresh funds in the five days ended March 15, per data from Farside Investors, but most of the net inflows happened from Monday to Wednesday propelling BTC to new all-time highs of near $74,000. The bitcoin ETFs only booked $133 million and $198 million of net inflows on Thursday and Friday, respectively, while BTC turned sharply lower to below $65,000 over the weekend.Bitcoin's price found short-term support at those levels and stabilized at $67,000, but the "real test" will come Monday and Tuesday, with bitcoin's correction potentially continuing if ETF inflows disappoint, Markus Thielen, founder of 10X, wrote in a Monday report."While this is an unpopular narrative, it would be expected to see inflows slow down after prices experience significant intraday volatility," the report said. "Based on our reversal indicators, a retracement to $59,035 appears more likely, offering
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