According to IG analyst Chris Beauchamp, Bitcoin is stuck in a fragile phase as the market tries to climb out of a rough patch. Prices have been moving in a narrow range and investors appear cautious.
Bitcoin has been trading just above $94,000 when this report was made, which is about 3.5% higher than its opening price for the year of $88,650, but still below an early-year peak near $94,780.
Fund Flows Keep Pressure On
Reports show that fund movements have been a big drag on sentiment. Bitcoin ETFs saw $1.38 billion in outflows between January 6 and January 9. Based on CoinShares data, digital asset vehicles recorded a net outflow of $454 million in the prior week.
The year opened with strong demand — crypto-based ETPs pulled in over $1 billion in the first two trading days — but that momentum faded and ETPs retained $580 million at the end of the week of January 3.
Last week, investors withdrew $405 million from Bitcoin ETPs and $116 million from Ethereum ETPs. Those
We współpracy z: https://www.newsbtc.com/news/bitcoin/bitcoins-comeback-stalls-as-crypto-funds-bleed-capital-analyst/
