BTC Spot ETF Inflows Trigger Reversal, Signaling a Potential Rebound
CryptoNewsTerminal Staff10 Sep, 2024
BTC Spot ETF Inflows Trigger Reversal, Signaling a Potential Rebound
Ali Martinez, a prominent cryptocurrency analyst and trader, recently observed a significant inflow of $28.7 million into the BTC spot ETF on September 9th. This influx follows a period of eight consecutive trading days marked by outflows amounting to $1.2 billion. Coinciding with this inflow reversal, the price of BTC experienced a surge of 6%, suggesting a shift in investor sentiment. Traditionally, September has been a challenging month for BTC. However, this recent reversal in ETF inflows could potentially challenge this notion and serve as an early indicator of a market turnaround.
