“I interpret the recent actions as an indication that the ETF proposal from September hasn’t yet regained enough momentum to counteract the renewed macroeconomic pressures. Achieving ETF inflows exceeding about $300 million per session for several consecutive days (this threshold is my own rather than a market standard) would serve as a significant signal of returning institutional interest,” remarked Oliver Carding, marketing head at Tesseract Group, in an email.
Martin Lee, who oversees content and data insights at DWF Labs, emphasized that substantial daily inflows hold more weight than prolonged streaks of lesser inflows that only accumulate a few hundred million dollars.
“Throughout the year, we’ve experienced 93 out of 190 (48%) trading days that were down, yet we still saw a net inflow of $1.2 billion. The overall flow size over a week or month proves to be more significant than daily figures, which have been quite unpredictable this year, but it’s definitely something to keep an eye on as developments unfold,” he noted.
In the meantime, different types of investors are continuing to build their positions.
“It seems that investors are taking advantage of downturns to accumulate assets and dollar-cost average alongside institutional players,” said Paul Howard, senior director at Wincent. “Many participants in the market are still eyeing Bitcoin at $100,000 or more.” Stay vigilant!
For more insights into today’s altcoin and derivative activities, check out Crypto Markets Today. For a detailed schedule of events this week, visit CoinDesk’s Crypto Week Ahead.