Bitcoin Spot Demand Crashes to $220M as ETF Inflows Decline 25% – Is the Bull Run Dead?
Bitcoin's bull run isn't necessarily dead despite the recent drop in spot demand and ETF inflows. Here's what's going on:
Key Points on Bitcoin's Current State
- *ETF Inflows Decline*: Bitcoin experienced a significant selloff in crypto ETFs, with $333 million pulled out of U.S. Spot Bitcoin ETFs in a single trading session.
- *Market Reaction*: This decline was partly triggered by weak U.S. employment data and new tariffs, leading to risk aversion in traditional markets.
- *Analysts' Views*: QCP Capital analysts say the bullish structure in the market remains intact despite the decline. They suggest dips could be buying opportunities if spot ETF inflows resume and implied volatility declines .
Bitcoin's Price and Support Levels
- *Current Price*: Bitcoin is trading around $114,389.99.
- *Support Levels*: Critical support levels are around $113,900 and $105,000, with $95,600 serving as a key invalidation point for the bullish wave structure .
What's Next?
The market's reaction to Federal Reserve uncertainty, like the resignation of Governor Adriana Kugler, could impact Bitcoin's trajectory. Traders are advised to monitor bond yields and Bitcoin's support levels .
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