Hello!
As some of you know I like to track the Bitcoin ETF inflows and outflows. From time to time I check my two favorite websites to track this information. One is heyapollo.com where we can see a chart with the daily and cumulative net ETF flows (BTC) since inception and the other one is farside.co.uk/btc where we can see numerically what the inflows and outflows have been for the last 2 weeks.
Here you have the Heyapollo chart:
As you can see the chart is extremely bullish. The ETFs are accumulating Bitcoin since the inception. There are periods of consolidation of course, and there are also periods where we can see some outflows, but they are relatively small if we zoom out and see the whole picture.
The other data from Farside is more short term oriented. I like to check what is happening weekly. As you can see in the chart the last 2 weeks we have seen some outflows. Close to 1 billion in outflows the last 15 days. It's a lot of money but nothing to worry for now. Here the numbers:
At the time of writing this words Bitcoin is trading at $95,000 we have been in the same range since mid November and it's starting to get very boring. Meanwhile we can keep earning from Defi and also from Hive. I still think we will be able to break this range to the upside at some point. I'm ready to wait for 2-3 more months if necessary but I don't think we will have to wait for that long.
What are your thoughts about the current situation. Do you think Bitcoin will break to the upside too? Or do you think we will go lower to the 80k level? The sentiment in crypto twitter is not good. There are a lot of people getting burned and only a few will survive, this space is cruel sometimes. But at the end those with conviction will get rewarded.
Have a great week!
Posted Using INLEO
