The US spot Bitcoin Exchange-Traded Funds (ETFs) have been witnessing a historic run of inflows, marking 17 consecutive days of net additions. On a particularly notable Tuesday, these ETFs observed inflows totaling a staggering $886.6 million, ranking it as the second-highest single-day influx since their introduction. This was followed by another significant day of inflows yesterday, amounting to $488.1 million, with notable contributions from major financial players like Fidelity ($220.6 million), Blackrock ($155.1 million), and Ark ($71.4 million). Despite these hefty capital injections, the price of Bitcoin has demonstrated a relatively subdued response, inching from $68,000 to $71,000 since the beginning of the week. The muted price movement in the face of substantial ETF inflows has puzzled many market participants and analysts. Typically, such inflows are expected to exert a stronger upward pressure on Bitcoin prices. However, the observed price dynamics suggest that other counteracting factors might be at play. Why Is The Bitcoin Price Not Going Higher? Crypto trading analytics platform The Kingfisher offered an explanation via a post on X, suggesting that a carry trade strategy might be influencing the price ..
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