Bitcoin Enters Accumulation Phase Post ETF
price has been range bound over the past week, trading between $42K and $43.5K as the excitement around the spot ETF approvals continued to cool down.
However, it’s noteworthy that net daily inflows have remained positive for the last seven consecutive trading days, with BlackRock and Fidelity taking the lead.
Not too shabby for ETFs that launched less than a month ago!
The Supply Shock Will Come…
While it is still too early to predict precisely when the institutional adoption of BTC will have a significant and long-term positive impact on the price, industry experts — the latest being ARK Invest — seem to agree that Bitcoin might be finally ripe for institutional adoption.
Bitcoin has outperformed every major asset over longer term horizons
Bitcoin’s correlation with traditional assets is low (0.27 over the past five years)
Bitcoin could play a major role in maximising risk-adjusted returns
Source: ARK Invest