Price analysis 5/30: BTC, ETH, BNB, SOL, XRP, DOGE, TON, SHIB, ADA, AVAX
Bitcoin ETF inflows show that the investors are using the current consolidation to accumulate.
Bitcoin (BTC) remains in sideways price action, but a positive sign is that the investors have continued to buy the spot Bitcoin exchange-traded funds. Farside Investors data shows net positive inflows into the ETFs for the past 11 days.
CoinShares data shows that Bitcoin investment products saw more than $1 billion in inflows last week. Along with institutional investors, whales also seem to be accumulating Bitcoin. Glassnode analysts said in The Week On-chain report that long-term investors were “beginning to re-accumulate coins for the first time since Dec 2023.”
According to the Securities and Exchange Commission filings, more than 600 United States investment firms have invested in spot Bitcoin ETFs since January. The ETFs have bought 855,619 Bitcoin since launch, with an average of 6,200 Bitcoin per day.
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Author: Rakesh Upadhyay
