Bitfinex Blog/
ETF Outflows And Spot Selling Test Bitcoin’s Recovery
Bitcoin's recent recovery is being tested by significant US spot ETF outflows totaling $1.16 billion and a lack of demand from spot buyers, with price support is primarily underpinned by perpetual futures positions rather than spot demand.
Read the original report at Bitfinex BlogWhy It Matters
The shift from spot demand to leverage-driven support is a risk to price stability, especially as ETF outflows and short-term holder loss-taking are short-term holder cost basis (STH-CB) at $75,839.