Bitcoin ETF are strong, but the price
Bitcoin remained below $70,000 despite news of substantial holdings by the BlackRock ETF. While ETF inflows continued last week, they failed to drive the price up. The presence of willing sellers, miners, and a lack of short liquidations have kept BTC within a narrow trading range. The Bitcoin ETF narrative has once again taken center stage, overshadowing altcoins and other protocols. In 2024, there were high hopes for new all-time highs driven by demand for physical coins. The introduction of various Bitcoin-based spot products sparked optimism for increased direct demand. However, despite indications of buying and holding, the BTC market price remains stagnant.
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