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Despite an outflow of $169.9 million from GBTC on March 22, inflows from other funds accounted for the first day of net inflows. With more investors evaluating these developments over the weekend, an optimistic mood for Monday and the expectation of a price increase are increasing.
Despite the massive outflows from GBTC, there was a net inflow of $29.6 million from the Franklin fund (EZBC) alone. Including IBIT and Fidelity entries, Bitcoin price could move towards the $68,000 target.
As a result, the decline in ETF outflows and inflows into certain funds are signaling that the price of Bitcoin may be bullish. In particular, outflows in GBTC and inflows into other funds contribute to the formation of optimism in the market...