Bitcoin trader warns of local BTC price top after $530M ETF inflows
BTC price “profit taking” has resulted from large ETF inflow days in the past, while both Bitcoin and Ether shrug off the latter’s ETF launch day.
Bitcoin risks a spate of “profit taking” and price weakness, even as institutional buying surges.
In his latest analysis on X on July 23, popular trader Skew warned of a “headline curse” as the United States spot Bitcoin (BTC) exchange-traded funds (ETFs) took in over $500 million.
Bitcoin ETF popularity is enjoying a renaissance this week, but the good times are far from guaranteed to stay, Skew said.
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Author: William Suberg
