Institutional Bitcoin flows through ETFs now dominate price movements, with normalized data offering consistent insights into market sentiment and positioning.
EFIS reveals how sustained ETF inflows or outflows forecast accumulation or distribution phases among large institutional investors.
Since early 2024, capital flows from spot Bitcoin ETFs in the United States have taken over the market. This isn’t just a new story in the crypto industry, but a reality that’s increasingly difficult to ignore.
Observing this trend, on-chain analyst Crazzyblockk on CryptoQuant highlighted a particularly interesting metric: the ETF Flow Impact Score (EFIS).
This model is designed to measure the extent to which institutional funds from ETFs can move the Bitcoin price, with surprisingly high accuracy.
Source: CryptoQuant
The EFIS is built from 663 days of inflow and outflow data on 11 active spot Bitcoin ETFs in the US. However, Crazzyblockk doesn’t simply count dollar inflows and outflows.
