GBTC - Spot Bitcoin ETF Saw Two-Month High Of $948M Net Inflows Last Week | Benzinga
Week 19 of spot Bitcoin ETF trading saw a net inflow of $948 million with a trading volume of $8.5 billion.
What Happened: This marks a positive weekly inflow compared to the past eight weeks, with the weekly Bitcoin (CRYPTO: BTC) candle closing above the middle line of the current correction phase.
Week 19 Spot Bitcoin ETF — Trader T (@pivfund2100) May 20, 2024
Net flow: $+948 million
Trading Volume: $8.5 billion
Key Facts
– Weekly inflow gets positive comparing to passed 8 weeks.
– Volume is descent as weekly candle closed above middle (dotted) line of current correction.
– Intrinsically, #Bitcoin is still in… https://t.co/sQBK7Ythus pic.twitter.com/bPXjwFynbu
Despite this, Bitcoin still in a correction phase, suggesting that the price might not see significant highs in the near term.