Green Flows, Still Cautious
Bloomberg reports that Bitcoin ETF net inflows have been positive for the second week in a row. That sounds encouraging and could be a bullish signal. Maybe not enough to call the end of the bear market, but at least it could support a technical recovery after the sell-off we saw in June, which bottomed around $57k.
However, when you look at the actual numbers, it’s clear why we should remain cautious. Yes, inflows are positive, but they’re still relatively small at around $100–200M per day. That’s nothing compared to 2024/25, when we occasionally saw over $1B in daily inflows.
I’m still expecting one final washout into the mid- to low-$50k range, which would be in line with what many cycle believers are expecting. In this case, the narrative is strong and continues to drive sentiment and price action. Some even expect a drop into the $40k range, but I think that’s less likely given how bearish market positioning already is.
What do you guys think?
