Bitfinex analyst: BTC price has not risen significantly due to the delayed effect of ETF inflows
2024-10-21 12:35
Odaily News Despite the large inflows of funds into Bitcoin ETFs last week, BTC prices do not seem to have risen significantly. Bitfinex analysts said that the lack of a significant increase in BTC prices may be due to the delayed effect of ETF inflows, which may take a few days to affect the spot BTC price. Analysts said: "Usually, this means that a large amount of ETF inflows will have little effect within a few days. Once the enthusiasm of spot market buyers fades, the market will reverse and fall. We need continued spot market interest to push prices out of the current range fluctuations." Bitcoin ETFs have limited direct impact on prices, and it usually takes a few days to form bullish momentum. (Cointelegraph)
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