Matrixport: Bitcoin ETF attracts over $45 billion, but the market faces hidden selling pressure

ChainCatcher news, Matrixport released its latest weekly report indicating that Bitcoin ETFs have cumulatively attracted over $45 billion in inflows, with stable corporate allocation demand and continued institutional interest. However, despite the strong inflow into ETFs, there remains a hidden selling pressure risk in the market, especially when the Bitcoin price approaches the average retail holding cost over the past year (around $45,000), where potential selling pressure may emerge and pose some resistance to the upward movement.

The report also noted that due to some funds being in a loss position since flowing into Bitcoin ETFs in Q2 2024, short-term market structure adjustments may continue. The key factor is whether Bitcoin can break through the existing range and drive a new round of capital inflows.