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I just noticed an interesting trend with the American Bitcoin ETFs. Last week there was quite a bit of outflow—the largest we've seen since November. Quite remarkable actually.
Many analysts say that such outflows can actually indicate a bottom in the BTC price. The logic is that if large players are reducing their Bitcoin ETF positions, the market has already priced in a lot of the bad news. So basically, a potentially bullish signal.
Bitcoin ETFs have experienced quite a bit of volatility this year. With this week's large outflow of American Bitcoin ETFs, I wonder if we're really close to a bottom now. The pattern last year was similar—large outflows, followed by a recovery.
What do others think about this? Do you also follow this kind of ETF data?