Quick Take
Since June 10, Bitcoin has experienced a notable decline, dropping from approximately $72,000 to as low as $65,200. This drop coincides with significant activity in Bitcoin exchange-traded funds (ETFs), which have seen around $580.6 million in outflows, according to Farside data.
This starkly contrasts the previous record-setting 19 consecutive trading days of inflows, amounting to roughly $4 billion, which coincided with Bitcoin’s price from around $60,000 to $72,000 between May 13 and June 7.
The recent outflows represent approximately 4.3% of the total inflows, aligning with a roughly 10% correction in Bitcoin’s price.
Bitcoin ETF Flow Table: (Source: Farside)
This discrepancy has led to questions about why Bitcoin’s price didn’t rise despite the substantial inflows. One plausible explanation is the “basis trade,” a strategy employed by hedge funds and investors.
In this strategy, investors go long on the underlying spot ETF products and short the futures mark
We współpracy z: https://cryptoslate.com/insights/bitcoin-price-reflects-basis-trade-dynamics-not-suppression/
