Analyst: Bitcoin ETF Sees $1.5B Cumulative Inflows Year-to-Date, Buying Pressure May Have Gradually Absorbed Selling Pressure

BlockBeats News, January 15th, Bloomberg ETF analyst Eric Balchunas wrote that "Bitcoin ETF had a strong performance yesterday with a net inflow of 843 million U.S. dollars. The net inflow in the past week has reached 1 billion U.S. dollars, and the cumulative net inflow since the beginning of the year is about 1.5 billion U.S. dollars. In terms of price, Bitcoin is currently around $97,000, and it seems to have been fluctuating around $88,000 for 'almost half a year' before.

The overall feeling is that the buying pressure may have gradually absorbed, or even exhausted, the selling pressure. Of course, the final outcome still needs to be observed."