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I saw news that last Friday, the US Bitcoin ETF saw more than $240 million flowing in, which is a positive sign for BTC. Currently, the price is hovering above $77,700. BlackRock's IBIT led with an inflow of $137.6 million, followed by Fidelity's FBTC with $78 million, indicating that institutions are continuously buying Bitcoin ETFs.
However, analysts have differing opinions. Ted Pillows said that the BTC price is at a crossroads. He believes that if it recovers to $73,000–$74,000, it might then pull back. Michael van de Poppe stated that speculators are in net long positions, similar to the situation before the big surge in 2023. But he also warned about the high volatility risks.
The key level is $72,000–$74,000. If it breaks through, we might see Bitcoin ETFs continue to attract funds because institutions are increasing their BTC holdings. Now, we need to carefully consider whether the inflow of Bitcoin ETF money will sustain the upward price movement.