Bloomberg: Significant fluctuations in Asian crypto markets may be caused by algorithms tracking Bitcoin spot ETF fund flows

Odaily News In Asian markets, Bitcoin investors faced significant volatility, possibly caused by automated trading protocols reacting to fund flow data from U.S. ETFs holding the cryptocurrency. Daily demand level data for these Bitcoin spot ETFs is spread throughout the cryptocurrency market during Asian time after U.S. stock markets close. Bitcoin suffered its biggest drop in a month on Tuesday amid data showing investors were pulling money. Shiliang Tang, president of Arbelos Markets, said: From an algorithmic trading perspective, robots can automatically crawl and buy and sell based on this data, and it seems that this is what is happening now. (Bloomberg)