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⚠️✴️#BTC #bitcoin #crypto
Strong outflows from spot $BTC ETFs have been occurring since early May, according to Farside.
Despite the first inflow last Friday after 18 days of continuous outflows, the Coinbase premium remains deeply negative, indicating ongoing selling pressure.
Many experts attribute the strong outflows from crypto products to capital shifting from crypto to giant IPOs: #SpaceX , followed by #Anthropic and OpenAI.
Analysts warn that there hasn't yet been a "large-scale capitulation" in the market, so it's too early to talk about a "bottom" in $BTC . Many expect prices to fall to the $55,000-$40,000 range.
Strong outflows from spot $BTC ETFs have been occurring since early May, according to Farside.
Despite the first inflow last Friday after 18 days of continuous outflows, the Coinbase premium remains deeply negative, indicating ongoing selling pressure.
Many experts attribute the strong outflows from crypto products to capital shifting from crypto to giant IPOs: #SpaceX , followed by #Anthropic and OpenAI.
Analysts warn that there hasn't yet been a "large-scale capitulation" in the market, so it's too early to talk about a "bottom" in $BTC . Many expect prices to fall to the $55,000-$40,000 range.
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