Why Is Bitcoin Stuck At Resistance Despite Record ETF Inflows?
Portfolio Pulse from Murtuza Merchant
Bitcoin remains stuck at resistance levels despite record inflows into Bitcoin Spot ETFs. Analysts suggest that broader market forces, internal selling, and profit-taking are offsetting the buying pressure from ETFs. Concerns about transparency from major institutions like BlackRock and Fidelity have also been raised.
June 07, 2024 | 4:27 pm
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Bitcoin is facing resistance despite record inflows into Bitcoin Spot ETFs. Analysts suggest that broader market forces, internal selling, and profit-taking are offsetting the buying pressure from ETFs. Transparency concerns from major institutions like BlackRock and Fidelity have also been raised.
Despite record inflows into Bitcoin Spot ETFs, Bitcoin's price remains range-bound due to broader market forces, internal selling, and profit-taking. Transparency concerns from major institutions like BlackRock and Fidelity add to the uncertainty.
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IMPORTANCE 90
RELEVANCE 100