[16/5] Bitcoin ETF: Not plunging sharply, but not yet a wave
I just reviewed the overall Bitcoin ETF market today, and the general feeling is that it is in a state of 'running, but not breaking out.' Volume is low, money flow is trickling in, and the price drops of the funds are quite light, mostly under 1%. The issue is not the decline – but the lack of any fund showing upward movement to create expectations for a wave.
BITO still dominates
With over 141 million USD in volume for the day and AUM near 2.76 billion USD, BITO remains the dominant Bitcoin ETF in terms of scale.
However, the price has hardly changed (-0.05%), indicating that the inflow is sufficient to maintain but not enough to push the price. This is the picture of a large fund on the defensive, not proactively leading.
Smaller funds show caution
BTF, BETH, BETE, BITS have all dropped over 1.5% but with very low volume – BTF only had 214 thousand USD in trades, BETE even less than 50 thousand USD.
This not only reflects the caution of institutional investors but also indicates that the ETF has not really established a position of smart money flow as expected.
ARKA and DEFI – names that once had hype – are now quiet
Both have recorded extremely low volumes, and the price drops are not enough to become attractive buying points.
Personal opinion:
Bitcoin ETFs at this moment are like the market holding the rhythm for the next wave. The fact that prices are not dumping is good, but the lack of any fund proactively breaking out is also a sign of 'waiting.'
I will not judge negatively, but I am also not rushing to expect a bounce. Only when funds like BITO, BTF see a sudden spike in volume along with stable prices – then it will be a real signal.
