Viewpoint: Bitcoin's current rebound should be treated with caution, long-term demand recovery can be expected around $57,000.

BlockBeats News, February 3rd, according to analyst @alicharts, yesterday stated that since January 19th, the flow of funds into the crypto ETF has remained negative. During the week of January 19th, about 17,400 bitcoins were sold off via ETF. In the following week, another 9,540 bitcoins were sold.

This marks two consecutive weeks of outflows after the price broke below the ETF's cost basis. The analyst therefore believes that the recent rebound should be approached with caution. Without new fund inflows, the uptrend may be merely a retracement rather than a trend reversal.

If selling pressure continues to strengthen, the next key level to watch is the 200-week moving average, currently close to $57,000. Historically, this level has played a critical macro support role during prolonged pullbacks and could also be a potential area for a strong long-term demand recovery.

BlockBeats notes that as of the time of writing, the first trading day of the week in the United States crypto ETF saw a net inflow, with no signs yet of the market concern-induced ETF investor panic selling.