Bitcoin ETF apathy is pressuring a key Bitcoin support level
Lack of sustained Bitcoin ETF inflows is weakening the $107,000 to $108,000 support level, according to Bitfinex analysts.Summary
Analysts from Bitfinex warn that Bitcoin risks breaking a crucial support level around $107,000 to $108,000 due to a lack of sustained institutional accumulation via US spot Bitcoin ETFs, especially following recent market volatility and net outflows. Between October 13 and 17, spot Bitcoin ETFs saw approximately $1.23 billion in net outflows. While overall net flows remain positive for the current week, the data highlights an absence of meaningful dip-buying from institutional investors. If this weakness persists and ETF inflows do not recover, it suggests growing demand-side fragility, which could undermine the institutional accumulation that previously fueled rallies and lead to a more prolonged consolidation phase. Despite this, some market participants still predict a year-end upswing, though figures like Mike Novogratz suggest reaching $250,000 is unlikely, maintaining a worst-case expectation above $100,000.
(Source：Cointelegraph)