Breaking Crypto News – What Could Explain the Lack of BTC Price Movement Despite the 19th Day of ETF Inflows?

Breaking Crypto News – Possible Explanations for the Lack of BTC Price Movement Amidst ETF Inflows

Breaking Crypto News – Many are questioning why the price of Bitcoin hasn’t risen above its all-time high of $73,679 established in March, despite a record 19-day stretch of inflows into spot Bitcoin ETFs headquartered in the United States. Experts assert they know the answer.

ETF flows are fantastic, but they are not strong enough to exceed the entire ecosystem selling (yet),

Charles Edwards, Capriole Investments founder

According to HODL15Capital, as of June 6, 2017 Bitcoin ETFs had about 1.3 million Bitcoin, or 5.2% of the total amount of Bitcoin in circulation. A significant portion of that amount was held by U.S. listed ETFs. Analysts contend that the price is influenced by a wide range of other factors and that the ETFs lack sufficient influence.

You do realize the market is made up of spot, futures, ETFs, and options, right? Price at any point in time is a product of all of these, not just one of them,

crypto trader Christopher Inks

Increase in Inflows is Still Insufficient for Price Increase

A total of $217.7 million was inflowed into the Bitcoin ETF on June 6, per Farside statistics. Over $15.5 billion in inflows have been made into spot Bitcoin ETFs since their inception; however, some traders feel that this amount is still insufficient to have a meaningful impact on prices until new markets open up.

There are still no spot Bitcoin ETFs in the U.K. or Japan, two major markets. There is lots of room to grow,

Cane Island Alternative Advisors founder Timothy Peterson

FAQ

For more up-to-date crypto news, you can follow Crypto Data Space.