The U.S. Spot Bitcoin ETFs continue to witness significant inflows, with Thursday seeing the second-largest dollar-equivalent inflow in Bitcoin, amounting to $896.3 million. This follows Wednesday's inflow, which was the third largest.
As these ETFs accumulate vast amounts of Bitcoin, the supply available in the market decreases, potentially setting the stage for a major price surge. The market anticipates a "coiling up" effect, suggesting that the price of Bitcoin could potentially "explode" higher in response to these substantial purchases.
