Cryptoquant CEO Ki Young Ju believes that the Bitcoin bull cycle will last as long as demand for Bitcoin ETFs remains net positive.
On the X-Post on February 20th, Ju said they continued to outperform the outflow while the Bitcoin (BTC) ETF inflows were slowing. He warned that a long period of net negative demand would likely indicate the start of the bear market.
According to Sosovalue dataBitcoin ETF recorded a $71.07 million spill on February 19, marking its second consecutive day of net redemption. Fidelity's FBTC had its biggest withdrawal of $48.39 million, followed by Valkyrie's BRRR, Ark 21 Shares' ARKB and Vaneck's Hodl. On the other hand, no significant movement was observed in BlackRock's IBIT and the other seven ETFs. Despite the short-term outflow, total trading volume remained at $2.05 billion.
Despite the short-term leakage, institutional interest in Bitcoin ETFs is growing. On February 14, Abu Dhabi's Sovereign Wealth Fund, known as the Mubadala Investment Company, announced that it had invested $436.9 million in BlackRock IBIT shares. The company is one of the first major sovereign wealth funds to allocate a portion of its portfolio to Crypto.
Furthermore, February 13th Submit The Securities and Exchange Commission has revealed that Barclays owns 2.47 million shares of IBIT, which as of December 31st. The UK-based bank is one of other organizations, including JP Morgan and Goldman Sachs. Exposure to Bitcoin ETFs.
Bitcoin is currently hovering $97,000, a massive drop from its peak of $109,200 last month. One of the main causes of this decline may be a decline in market reliability in the Trump administration's ability to quickly establish strategic Bitcoin reserves. Many investors expected the market to move quickly after the election, but uncertainty has caused volatility to surge again.
